Thinking about buying or selling in New Albany and wondering how Intel’s expansion could change your plans? You’re not alone. A multi-billion-dollar manufacturing project brings new jobs, construction, and services that ripple through housing for years. In this guide, you’ll learn who is moving in, how supply might respond, what it could mean for prices and rents, and how to position yourself for success. Let’s dive in.
Intel’s project and why it matters
Intel announced plans in 2022 to build advanced semiconductor manufacturing capacity on a mega-site in the New Albany and Licking County area. This is a multi-year effort with large construction phases followed by permanent hiring. Each phase affects housing differently.
In the near term, you can expect increased demand for rentals and flexible-term housing from construction teams and vendor staff. Over time, permanent employees and supplier firms tend to seek single-family homes and higher-end rentals close to schools, parks, and amenities. These waves of demand show up on different timelines and often overlap.
Who is driving demand and when
Direct Intel employees
Many permanent roles are skilled and higher-income. Employees often look for move-in-ready single-family homes or higher-end rentals with convenient commutes and access to community amenities. Some will buy right away, while others rent first to learn the area.
Supplier and contractor firms
Vendors that support chip manufacturing add a wide range of jobs. Their teams may rent apartments, townhomes, or single-family homes and look for starter-home options when buying. This group grows in parallel with Intel’s ramp-up.
Construction workforce
During peak buildout, temporary workers increase demand for short-term rentals, extended-stay options, and multifamily units. This can tighten vacancy rates near job sites and along major corridors.
Service-sector growth
More workers mean more restaurants, retail, medical services, and personal services. Those new jobs add steady demand across rental tiers and entry-level for-sale homes.
Hybrid and commuter households
Not everyone will relocate full-time. Hybrid schedules can create a market for second-home arrangements, monthly furnished rentals, or commuter-friendly locations.
What limits new housing supply
Land and zoning
New Albany has historically favored controlled, lower-density growth. Limited vacant residential land inside the city boundary can shift new supply to nearby communities. That shapes where and when you see new listings appear.
Permitting and infrastructure
Homes follow infrastructure. Sewer, water, roads, schools, and utilities must scale to support growth. Even when demand is strong, approvals and build times create lag, which can tighten inventory.
Builder capacity and materials
Regional builder bandwidth and materials availability affect how quickly new neighborhoods and townhome communities reach the market. These constraints can keep inventory tight longer than expected.
Multifamily pipeline
The pace and location of new apartment projects can influence rental prices, vacancy, and availability for both residents and temporary workers. If the pipeline is slow, rents may rise faster.
Price and rent outlook
Short term: 0 to 2 years
You may see an inventory squeeze as demand arrives before supply. That can reduce days on market and create upward pressure on both prices and rents, especially for flexible-term rentals used by contractors.
Medium term: 2 to 5 years
As subdivisions and multifamily developments come online, new supply can help moderate price growth. Higher-income hiring can still keep pressure on well-located, move-in-ready homes in New Albany and nearby suburbs.
Long term: 5+ years
A permanent bump in local employment and amenities can lift the baseline for home values over time. Outcomes depend on how much housing gets built and where. Regional coordination matters as much as local planning.
Where demand is likely to concentrate
In and near New Albany
Neighborhoods close to parks, paths, and retail remain popular. Proximity to employment centers and convenient commutes adds appeal for both buyers and renters.
Nearby east and north suburbs
Communities across Franklin County and the broader east-of-Columbus corridor, including Plain Township and suburbs to the north and east, can absorb spillover demand. Many buyers will compare options across multiple school districts and municipalities.
Commute trade-offs
Some shoppers will extend their commute to balance budget and home features. As demand radiates outward, areas with good highway access often see increased interest.
Guidance for buyers
- Get fully underwritten pre-approval. In a tight market, a strong file helps you compete on timing and certainty.
- Broaden your search map. Consider nearby communities with similar amenities or shorter build timelines for new construction.
- Be flexible on terms. Early possession, rent-backs, or longer closings can help you win without overextending on price.
- Weigh new build vs. resale. New construction can offer predictable timelines, while resales can shorten your move-in window.
- Plan for interim housing. Short-term rentals or month-to-month leases provide flexibility if you need to align with a new job start.
Guidance for sellers
- Time the market thoughtfully. Listing when similar homes are scarce can improve showings and leverage.
- Price with precision. Competitive pricing backed by local comps attracts more qualified buyers and reduces days on market.
- Prep for first impressions. Focus on curb appeal, neutral paint, flooring touch-ups, and professional photos to widen your buyer pool.
- Highlight commuter convenience and flexible spaces. Home offices, finished basements, and outdoor living areas often resonate with relocation buyers.
- Expect relocation activity. Many prospects will be new to Central Ohio and value clear disclosures, pre-list inspections, and flexible possession.
Community impacts to watch
Schools
Growing employment centers often bring enrollment growth. The New Albany-Plain Local School District will continue to evaluate capacity and timing. Watch for planning updates that address facility needs and transportation.
Infrastructure
Traffic patterns, road improvements, and water and sewer expansions are common focus areas. These investments take time and usually coincide with new developments and annexation decisions.
Affordability and policy choices
Rising demand can create affordability gaps for some residents. Local decisions on zoning, density, and incentives for workforce housing can help balance growth and protect community stability.
Three possible scenarios
- Low-supply scenario: Permitting lags and builders face capacity limits. Expect steeper price and rent increases, faster sales, and more buyers commuting from farther away.
- Balanced-growth scenario: A steady pipeline of single-family and multifamily homes arrives regionally. Price growth moderates and options expand for a range of budgets.
- Managed-growth scenario: Policies encourage mixed-income housing, coordinated infrastructure, and targeted density. The community adds homes while maintaining accessibility and services.
How to stay informed
- Follow city planning and council updates for annexation, zoning, and infrastructure projects.
- Track building permits and multifamily announcements to gauge when new supply will hit the market.
- Watch local market reports for shifts in median price, days on market, and inventory across Franklin County and nearby suburbs.
- Review school district planning materials for enrollment trends and capacity timelines.
Market conditions evolve, and Intel’s timeline can shift with broader economic cycles. The most confident decisions come from real-time data, neighborhood-level insight, and a plan tailored to your goals.
Ready to position your next move with a data-forward strategy and local expertise? Reach out to Kim Kovacs and Partners, Coldwell Banker Realty for on-the-ground guidance, custom comps, and a clear plan to buy or sell with confidence.
FAQs
Will home prices in New Albany skyrocket because of Intel?
- Upward pressure is likely, especially if supply lags demand, but the magnitude depends on how much new single-family and multifamily housing is permitted and built across the region.
Is New Albany short on housing supply today?
- The city has limited vacant, developable residential land within its boundaries, so nearby communities will play a major role in adding new homes and apartments.
Can I still find an affordable option near New Albany?
- Options may be tighter, but expanding your search radius, watching new townhome and apartment projects, and considering nearby suburbs can open more choices.
How will local schools be affected by the growth?
- Enrollment often rises near major employers; watch district planning and capacity updates for timing and scale of any facility changes.
Is this a good time to sell a home in New Albany?
- If your home is in a desirable location and well-prepared, you may see strong buyer interest; precise pricing and professional marketing can help you maximize results.
