Springfield, OH—45502
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Springfield, OH
As of Oct '25, the median home price in Springfield, OH is $302,000, with a year-over-year change of 3.8%. This indicates that home prices in Springfield, OH are increasing. According to Zillow, the 1-year price projection is 3.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $302,000 | 3.8% |
| Single Family | $307,000 | 3.7% |
| Condos | $231,000 | 4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $201,000 | 4.7% |
3 Bed | $299,000 | 4.2% |
4 Bed | $371,000 | 4.2% |
| 5 Bed | $423,000 | 4.4% |
% of Housing Stock
Rental Trends — Springfield, OH
As of July '25, Rentcast reports the average rent in Springfield, OH is $1,420, with a year-over-year rent change of 34.0%. Per bedroom, the median rent as of July '25 in Springfield, OH is 2-bedrooms: $1,780, 3-bedrooms: $1,310. The most common rental property sizes in Springfield, OH are 2-bedroom and 3-bedroom, accounting for 31.8% and 26.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,420 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,780 | $1,780 |
| 3 Bed Rent | $1,100 | $1,310 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Springfield, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Springfield, OH is 41. This is a increase of 8.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $340,000 | 2.0% |
Listing Count | 48 | -6.0% |
| Listings as % of Homes | 0.6% | -6.0% |
Days on Market | 41 | 8.0% |
Demographics — Springfield, OH
As of the latest ACS Survey released in 2023, Springfield, OH has a population of 17,100, which has increased by 8.2% over the past 5 years. Springfield, OH is a moderately popular place for families, as children make up 20.8% of the population. The area has a poorly educated workforce, with 23.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,100 | 8.2% |
% Under 18 | 20.8% | 4.0% |
% Seniors | 21.5% | 0.5% |
% WFH | 10.3% | 68.9% |
% w/ College Degree | 23.1% | -15.7% |
As of the latest ACS Survey released in 2023, Springfield, OH is a predominantly white area, with 93.7% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Springfield, OH is black, making up 1.9% of the population. Foreign-born residents account for 0.6% of the population in Springfield, OH, and this percentage has decreased by 53.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.7% | -1.2% |
% Black | 1.9% | -13.6% |
% Hispanic | 1.0% | 400.0% |
% Asian | 0.2% | -75.0% |
% Foreign Born | 0.6% | -53.8% |
Mortgage and Risk — Springfield, OH
According to HUD data as of 2023, there were 382 mortgage originations in Springfield, OH, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Springfield, OH. Investor activity is low, as 1.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 382 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Springfield, OH
Springfield, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 68 |
Total Units Section 8 | 68 |
% Rentals under Section 8 | 8.3% |
% Occupied Section 8 | 66.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $910 |
| 2 Bedroom | -$580 | $1,780 | $1,200 |
| 3 Bedroom | $360 | $1,100 | $1,460 |
| 4 Bedroom | N/A | N/A | $1,660 |
Affordability — Springfield, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $302,000 |
| Median Household Income | $87,400 |