Housing shortages, disparity in building versus buying. Renting feels like a trap we’ll never get out of and buying a house feels nearly impossible for the younger generations. So let’s talk about it!

Affordable Housing

The data provided by Ohio Senate shows that Columbus, and Ohio is in a severe housing deficit. It has even been called a “Housing Crisis” by some. Regardless how how you frame it, Ohio is in need of 260,000 homes.

Columbus alone needs over 58,000 affordable units. The current plans are not working fast enough. By the end of 2025, we will still be in need of roughly 55,000 homes.

I would put forth a plan to not only build more Extremely Low Income - Affordable Housing Units such as Duplexes, Triplexes, and Townhomes in areas near the city. I would also propose that we reclaim old municipal and old school buildings that have been closed or are slated for demolition. By claiming those lands, we would have ample space to build new Duplexes, Triplexes and Townhomes in those places.

I would also propose the $1 House Plan that has helped Minnesota revitalize their communities and neighborhoods. This would allow individuals and families (NOT BIG RENTAL COMPANIES) who want to revilitise our neighborhoods that have suffered from houses being left derelict and uninhabitable to take on the renovation of those houses for $1, which will officially transfer the title of the home to new owners, and allow them to make those homes livable again. This would encourage families who want to turn an empty shell of a house into a home and encourage more small construction companies to stay in Columbus. This will also encourage the growth of our trades because Ohio will need more skilled laborers in order to meet the demand for these renovations.

To add to this, I would also like to propose a RENT CAP and RENT FREEZE throughout Columbus and also throughout the entire State of Ohio. There is a HUGE gap in what Rent and Mortgage Costs are versus what our Earnings can keep up with due to stagnant wages throughout the state. If we can freeze Rent prices so that more people can afford to stay in their homes rather than being forced out because their rent increased so much year over year that they can no longer afford the place they have been living, hopefully, it will create more stability in our communities.

Building vs. Buying a home in 2026: Even when you think you’ve got it all figured out and you’re about to go to the bank or credit union to secure a loan, there is what feels like a million things you have to think about and just as many questions you’re going to have to answer. The 1st question most lenders ask you when you’re looking at getting a new home, “Are you going to buy or build a new home?” and that can be a daunting question to answer right off the bat. With the housing shortage we just talked about above, many people have been forced to seriously consider buying land and building a new home.

The only problem most people face in these cases are Finances. Financing Term, Financing Amount, and Interest Rates are all really big and important things to discuss and determine what can you afford without having to get a 2nd or 3rd job just to support the purchase of a new home even if you’re legally qualified for the amount based off of your debt-to-income ratio and your credit score. So now you’re left with the thought, well, the bank offered me a $300,000 home loan but that means if I buy a house that costs that much,I’m at the top of my budget with no wiggle room in my finances for things like gas, groceries, or even fun money to just go to the movies.

Building a house in Ohio generally costs between $170 to $300 per square foot, with total project costs often falling in the $290,000 to $350,000 range for an average home. We’re talking a 2-3 bedroom 1-2 bath, home with 1,000-2,000 square feet.

Buying a house in Ohio generally costs between $200,000 to $300,00 based on your location and other certain special features of the home. In Columbus, the average price to buy a home is $279,900 as of 2025. So while the average is roughly only $10,000 less to buy a new home, many people want to update and renovate the new homes they move into. The average cost of update and renovate a newly purchased home varies WIDELY. One house may need all new appliances due to age. Another may just need new paint and door knobs. Another might need all new electrical or plumbing or HVAC. But, within the first few months, most homeowners spend a few thousand dollars to make their new house their home. So now we’re in the same price range as if we were to build a new house.

The average income for a single person in Ohio is $39,000 a year. The average household income (usually meaning a family) is $60,000 (conservatively - other estimates put it as high as $80,00). With those numbers in mind, generally speaking, what can you expect as far as purchasing power with the average household income? With a $60k salary, you can generally afford a home in the $190,000 to $290,000 range. If you make $70K, can generally afford a home in the $210,000 to $350,000 range. If you make $80K, you can generally afford a home between $240,000 and $360,000. Let’s say you have 10% saved up as a downpayment and you have a 7% interest rate on a 30 year home loan for all these examples. That means your average mortgage payment is going to be between (roughly) $1,600 - $2,700 a month.

There are plenty of factors that go into that and play a huge part in what you can actually get for a loan BUT, my point remains the same.

In Ohio, the REAL cost to buy, update and renovate is JUST as expensive as building a new home.

To many, including my family, this feels like a trap. We’re stuck because there is no good option, no less expensive option… So we are stuck renting until we save up at least a 10% Down Payment, which, there are some smaller down payment options and there are also some down payment assistance programs at the local, state, and federal levels based on your area. BUT, usually, just to be safe, 10%. And even this is hard to work with at times because traditionally, lending institutions want home buyers to have 20% as a down payment saved up.

NOW, when you are living paycheck to paycheck like 39% of Ohioans like you and me, we can’t even save up any more than a few dollars at the end of every month for a down payment if we’re lucky. A huge part of the reason why more nearly half of us are living paycheck to paycheck that is the fact that our housing costs are so high. According to Zillow, here’s how much we’re spending to rent an apartment:
Studio: ~$995 - $1,225
1-Bedroom: ~$1,100 - $1,500
2-Bedrooms: ~$1,350 - $1,700
3-Bedrooms: ~$1,750 - $1,900+
Also, according to Zillow, here’s how much we’re spending to rent a house:
2 Bedrooms: $1,450 - $1,480
3 Bedrooms: $1,916 - $1,928
4 Bedrooms: $2,437 - $2,852

NOW! Let’s go back and revisit how much you could expect a mortgage to cost every month if you were to own a home. That was $1,600 to $2,700 a month.

When it cost your family just as much to rent as it does to own a home. I don’t know about you, but to me, that feels an awful lot like a trap.