ZIP Code · OH

ZIP 43123

Part of Grove City, OH

Pop. 67,626·Franklin County·71st most expensive ZIP in Ohio

Median rent (all units)

$1,556/mo

Year-over-Year

+5.5%

Month-over-Month

+0.4%

vs US Median

-$376

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 43123 · $1,556

More affordable than 69% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,110

1 BR

$1,190

2 BR

$1,430

3 BR

$1,710

4 BR+

$1,930

Research median

$1,430/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in ZIP 43123 usually run 0.7% below trend in December and 1.1% above it in August, about $28 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 43123 is at its highest level since Zillow's records here began in May 2021.

Past year vs. the rest of Ohio

Rent in ZIP 43123 changed +5.5% over the year to September 2026. Across the 190 Ohio ZIP codes Zillow tracks, the typical change was +3.8%.

Recent direction

Rent has risen 9 months in a row, and rose in 11 of the last 12 months.

What a typical income covers

30% of the median household income ($91,008) is $2,275 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,930).

Cheaper nearby

ZIP 43223, 6 miles away, rents for 19% less ($1,255/mo), about $3,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 43123. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,672/yr

At $1,556/mo median

Location

CityGrove City

StateOH

CountyFranklin County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 5.5% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+5.5% YoY, +0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 43123 (Grove City, OH) is majority owner-occupied, has a median income above the national average, 31.1% of residents hold a bachelor's degree or higher.

Population

67,626

Median income

$91,008

Median age

40.2

Renters

26.1%

Age distribution

23.6%

19.5%

26.3%

13.6%

17%

Under 1823.6%

18–3419.5%

35–5426.3%

55–6413.6%

65+17%

Gender

49.7%

50.3%

Male49.7%

Female50.3%

Race & ethnicity

85%

White85%

Black4.8%

Hispanic5.2%

Asian2%

Other3%

Education (25+)

30.2%

31.1%

No HS diploma8.5%

HS diploma30.2%

Some college30.2%

Bachelor's+31.1%

Housing tenure

73.9%

26.1%

Owner73.9%

Renter26.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How ZIP 43123 in Grove City, OH has changed in 5 years

Rent

$1,250 → $1,556

up 24.5%

Income

$82,308 → $91,008

up 10.6%

Population

66,351 → 67,626

up 1.9%

Renter share

26.7% → 26.1%

-0.6 pts

Bachelor's+

28.2% → 31.1%

+2.9 pts

Since 2022, the typical rent in ZIP 43123 in Grove City, OH has climbed from $1,250 to $1,556, a 24.5% change over five years. Census figures show median household income at $91,008 today, compared with $82,308 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 1.9% since 2021, moving from about 66,351 residents to roughly 67,626. College-educated residents now make up 31.1% of adults here, versus 28.2% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

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Local insights

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About renting in ZIP 43123

Last updated: October 17, 2026

ZIP code 43123 covers Grove City, OH. The median rent here is $1,556/mo as of October 2026. A 1-bedroom rents for a median of $1,190/mo. A 2-bedroom rents for a median of $1,430/mo.

At 21% of local median household income ($91,008/yr), ZIP 43123 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 43123?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (about $30/hour full-time) to afford the median rent of $1,556/mo in ZIP 43123. The local median household income is $91,008/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 43123?

Rent in ZIP 43123 has risen 5.5% over the past year as of September 2026. That is the highest level since Zillow's records here began in May 2021.

When is the cheapest time to rent in ZIP 43123?

Asking rents in ZIP 43123 are usually lowest in December, about 0.7% below their yearly trend, and highest in August, about 1.1% above it. At today's median that is a gap of roughly $28 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 43123 compare to other ZIPs in Ohio?

ZIP 43123 is one of the pricier among Ohio ZIP codes for rent, ranking #71 of 229 at $1,556/mo. Over the year to September 2026, rent in ZIP 43123 changed +5.5%, against a typical +3.8% across the 190 Ohio ZIP codes Zillow tracks.