Lush farmlands dotted with gorgeous new brick homes, a vibrant but quaint downtown, and one of the best school districts in Central Ohio have helped to make New Albany into one of the fastest growing Columbus, Ohio suburbs. We recommend investing in this community now — getting in on the ground floor of a housing boom that will surely net great future returns in home values.
Historically speaking New Albany, Ohio was known primarily as a farming community. Settlers came to the area around 1796, when the federal government began giving the lush farmland to Revolutionary War veterans. The New Albany-Plain Township Historical Society states that for a time, the crops from this vibrant landscape went to whiskey production. True to the American melting pot, the area was later settled by German immigrants in the mid-1800s, as wells as British transplants.
This small farming community hit the big time when Les Wexner took an interest in the lovely area, building a home and horse farm on more than 300 acres. Wexner is the found of The Limited brands including Victoria’s Secret, Bath & Body Works and The White Barn Candle Company, among others.
Yet it is his philanthropic nature that resonates with fellow Ohioans. An Ohio State University graduate, Wexner’s contributions fostered a hospital system rebrand to the Wexner Medical Center at The Ohio State University. He also had a hand in retail centerpiece Easton Town Center. Each fall the Wexner’s host The New Albany Classic, which is much more than an exhibition of horses; for the past 19 years it has raised money for the victims of domestic violence. Wexner can afford this generosity; Forbes tells us the Wexner net worth hovers around $7 billion.
Why Live Here?
But Wexner isn’t the real reason new residents are flocking to New Albany, Ohio. This is an elite community that is in no way snobbish; residents retain their Ohio warmth while enjoying some of the most expensive and sought-after homes in the region. The Columbus Dispatch says this affluent suburb is one of the wealthiest in the entire state, with median home values of $485,200, and an average income of $185,000, nearly four times the state median.
The New Albany Plain Local Schools is in one word: Outstanding. Consistently achieving “A” ratings fro the Ohio Department of Education and on all other measures of academic success. The four-year graduation rate is nearly 97% and the five-year rate is 99%. The facilities are very new and overall excellent, but homeowners pay an average of $2,902 in taxes per $100,000 of home value, with $1,851 of this amount going directly to the school district, according to the Columbus Dispatch.
Residents agree that the price of living here is well worth it. The Columbus Board of Realtors shows that new home sales are up by more than 15% in the first quarter of 2016, and new properties are being built constantly to keep up with consumer demand. Contact Ryan Grover at The Grover Group to help you with your buying and selling needs in New Albany, Ohio.