Rankings/Columbus, GA-AL

Columbus, GA-AL

NeutralTier 1CBSA 17980Compare

Risk Rank: #106 of 274Month: 2026-05Score change (12m):— -4

53score

Composite risk percentile vs 274 metros (higher = higher risk)

Executive Summary

Columbus's housing market shows average risk, ranking 106th of 274 metros. The market recently entered Recession. The market shows signs of liquidity stress with elevated inventory. Deep correction with severe liquidity stress — significant risk remains.

Columbus experienced a market correction from late 2025 through late 2025.

Inventory has surged +33% YoY with days on market up +11% — significant supply buildup indicating market stress.

Rent growth is roughly keeping pace with price appreciation, suggesting valuations are not stretched.

Cycle Phase

RecoveryExpansionHypersupplyRecession

1 month in current phase

Demand contraction with rising inventory pressure

Key Dynamics

Risk is primarily driven by price momentum and migration, while permits per capita provides the most support.

Top Drivers

Price Momentump80

12-month HPI change

Migrationp75

Net AGI migration (risk inverted)

Employmentp57

12-month employment change (risk inverted)

Market Signals

Inventory has surged +33% YoY with days on market up +11% — significant supply buildup indicating market stress.

Liquidity

Stress↑

Active Listings YoY

+33.3%p82

Days on Market YoY

+11.4%p70

Months in status1

Data through May 2026

Valuation

Balanced—

Rent vs. Price Growth

-0.8%p53

Months in status1

Data through May 2026Rent growth vs price growth (rent support). Note: Affordability and Valuation measure different structural dimensions and can diverge.

Factor Details

Lower riskHigher risk

Low RiskBelow AvgNeutralElevatedHigh Risk

Price MomentumElevated

+2.8%p80

12-month HPI change — higher = overheating

Permit GrowthBelow Avg

-8.3%p39

YoY permit change — higher = supply pressure

Permits per CapitaLow Risk

1.86p16

Permits per 1,000 residents — higher = overbuilding risk

AffordabilityNeutral

0.28p49

Mortgage payment / income — higher = more burdened

EmploymentNeutral

-0.1%p57

12-month employment change (risk inverted)

MigrationElevated

-$28Kp75

Net AGI migration (risk inverted)

National Context

Credit Conditions

Credit Regime

Stable—

Active correction with weak transactions but available credit. Buyers can borrow — they're choosing not to at current prices.

Bank Lending Standards

-3.7Normal

Rate Change (YoY)

-38 bpsNormal

Mortgage Risk Premium

+199 bpsElevated

Stable for 9 quartersData through 2026-Q2

Supply Pipeline

Supply Regime

Accumulating—

Supply pipeline is building up while credit remains available. New units are accumulating in the system — watch for delivery pressure in coming quarters.

Pipeline Ratio

0.90Elevated

Completion-Permit Divergence

-5.9 ppNormal

Accumulating for 5 quartersData through 2026-Q2

Local Signals

Metro Permit Activity

Permit Activity

Normal

YoY Permit Growth

-8.3%Within norm

Raw signal — not the composite percentile

Relative to 2016–2019 norms for this metro

Normal permit activity but demand has deteriorated significantly. The stress is from existing inventory and slowing absorption, not new construction.

Employment Concentration

Employment

Limited data

Largest SectorGovernment 57.6%

4 of 20 sectors disclosed · QCEW 2024 annual averages

Internal Structure

Columbus's counties diverge significantly — Harris County (High Risk) contrasts sharply with Russell County, making the metro average potentially misleading.

High18.4Limited data

4 of 7 counties scored

Columbus, GA-AL shows High internal divergence — the metro composite may obscure significant county-level differences. Harris County contributes the most structural risk (High Risk, driven by price momentum), while Russell County anchors the lower end (Low Risk).

Within-metro factor percentiles (0 = lowest risk, 100 = highest risk)

County	Score ▼	Band	Pop %	Price	Permits	Afford
Harris CountyRisk Driver	92	High Risk	11.8%	100	100	67
Stewart CountyUnscored	50	Average	—	—	—	—
Chattahoochee CountyUnscored	50	Average	—	—	—	—
Talbot CountyUnscored	50	Average	—	—	—	—
Muscogee County	46	Average	66.5%	50	33	100
Marion County<5%	33	Below Average	2.5%	—	67	0
Russell CountyStabilizer	25	Low Risk	19.2%	0	0	33

Score History

Month	Phase	Score	Price	Permits	Afford	Employ	Migr
2025-12	Rec	43	79	15	42	29	75
2025-10	Rec	53	73	57	48	34	83
2025-09	Ress	52	76	57	48	28	83
2025-07	Ress	54	77	57	48	40	83
2025-06	Hyp	56	74	57	45	58	83
2025-04	Ress	57	75	57	45	59	83
2025-02	Ress	46	10	57	38	65	83
2025-01	Hyp	47	10	57	38	71	83
2024-11	Hyp	63	79	57	43	95	83
2024-08	Ress	63	79	57	42	94	83
2024-06	Ress	62	72	57	41	94	83
2024-03	Ress	66	94	57	46	97	83
2024-01	Hyp	64	82	57	46	96	83
2023-12	Exp	56	45	57	46	84	83
2023-10	Exp	58	70	57	46	70	83
2023-08	Rec	60	83	57	51	67	83
2023-06	Rec	58	50	57	46	91	83
2023-03	Hyp	58	60	57	47	76	83
2023-02	Ress	60	61	57	47	93	83
2022-12	Ress	52	16	57	34	99	83
2022-11	Exp	51	11	57	34	99	83
2022-10	Ress	50	9	57	34	98	83
2022-09	Exp	51	14	57	38	93	83
2022-07	Exp	50	17	57	38	83	83
2022-06	Ress	52	21	57	41	89	83
2022-05	Exp	53	22	57	41	91	83
2022-03	Exp	52	17	57	40	95	83
2022-02	Rec	52	14	57	40	99	83
2021-12	Rec	54	34	57	35	92	86
2021-10	Exp	55	39	57	35	90	86
2021-08	Exp	53	25	57	34	96	86
2021-05	Exp	51	13	57	33	97	86
2021-04	Rec	51	14	57	34	93	86
2021-02	Rec	50	49	57	38	48	86
2021-01	Exp	52	65	57	38	45	86
2020-11	Exp	45	38	57	44	33	75
2020-10	Rec	43	27	57	44	32	75
2020-08	Rec	47	52	57	45	32	75
2020-05	Exp	51	87	57	46	19	75
2020-03	Exp	47	45	57	43	43	75
2020-02	Rec	49	51	57	43	47	75
2019-12	Rec	58	82	57	46	70	69
2019-11	Exp	55	67	57	46	72	69
2019-09	Exp	54	44	57	46	85	69
2019-08	Rec	53	46	57	47	79	69
2019-06	Rec	51	22	57	44	95	69
2019-03	Rec	46	15	57	42	75	69
2019-01	Rec	44	9	57	42	69	69

Data Vintages

Price (HPI)2026-Q1

Permits2026-05

Income2024

Employment2026-05

Migration2023