The Intel Effect: What New Albany's $28B Chip Campus Means for Homebuyers Nearby

If you've driven through New Albany lately, you've probably noticed the construction cranes. Intel's $28 billion investment in two leading-edge chip factories is the single largest economic development project in Ohio's history — and it's already reshaping the housing market for miles around it.

Whether you're actively house-hunting near New Albany or just curious what all the buzz is about, here's what's actually happening and what it means for you.

What Intel Is Building, and Why It Matters

Intel's New Albany campus is expected to bring thousands of direct jobs with an average salary around $135,000, plus thousands more indirect jobs across the supply chain — from construction and logistics to tech firms and support services moving into the area to be close to the action. The full build-out timeline has shifted toward 2030, but construction is currently at its peak, and the ripple effects are already visible in the surrounding real estate market.

This isn't just a New Albany story. Supply chain businesses, tech firms, and logistics companies are setting up across Central Ohio to support the project, which means housing demand is spreading well beyond the immediate area — into Westerville, Gahanna, New Albany's surrounding townships, and beyond.

How It's Already Affecting the Housing Market

The clearest impact so far has been on executive and move-up housing within a short commute of the New Albany International Business Park. As highly paid Intel employees, contractors, and supply-chain executives relocate to the area, demand for larger homes and luxury properties near New Albany has climbed noticeably faster than the broader Central Ohio market.

New Albany itself is responding: local leadership has signaled a shift toward more housing density and new development to keep supply from falling too far behind demand. That's a meaningful change for a suburb that has historically prioritized larger lots and lower-density development.

The honest short-term picture: new construction takes time to catch up to a jobs boom like this one. That mismatch is a big part of why homes near the Intel site have seen sharper price growth than homes elsewhere in Central Ohio over the past couple of years — and why it's worth having a strategy if you're planning to buy in this submarket.

What This Means If You're House-Hunting Near New Albany

Expect more competition for well-located homes. Properties within an easy commute of the business park are seeing above-average interest, especially from relocating professionals who may be less price-sensitive than the typical local buyer.

Look slightly outside the bullseye. Westerville, Gahanna, and parts of New Albany's surrounding townships are absorbing some of the overflow demand, often at a better price point than homes closer to the campus itself.

Get ahead of new construction. With New Albany opening the door to more housing development, new-build communities are likely to keep coming online over the next few years. Getting in early on a new development can sometimes mean better pricing than waiting for a resale market that's already adjusted upward.

Don't panic-buy. A hot submarket is not a reason to skip due diligence or overpay. The Intel timeline stretches out to 2030 — this is a multi-year story, not a six-month sprint, and there will be more opportunities to buy in as new inventory comes online.

Should You Be Watching This Even If You're Not Buying Near New Albany?

Yes — and here's why. Job growth of this scale doesn't stay contained to one suburb. As Intel-related employment ripples outward, it adds to the broader demand pressure we're already seeing across Central Ohio's housing market (more on that in our last post). If you're buying or selling anywhere in the region over the next few years, this is one of the biggest economic stories shaping your local market, whether or not it's in your immediate neighborhood.

The Bottom Line

New Albany is in the middle of a once-in-a-generation economic shift, and the housing market around it is adjusting in real time. If you're considering a move near the Intel campus — or just want to understand how it might affect your own neighborhood's home values — I'd love to walk you through what I'm seeing on the ground.