Springfield, OH—45504
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 $205,000, with a year-over-year change of 4.8%. 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 | $205,000 | 4.8% |
| Single Family | $210,000 | 5.0% |
| Condos | $167,000 | 5.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $156,000 | 7.6% |
3 Bed | $221,000 | 4.7% |
4 Bed | $310,000 | 4.7% |
| 5 Bed | $383,000 | 4.6% |
% of Housing Stock
Rental Trends — Springfield, OH
As of July '25, Rentcast reports the average rent in Springfield, OH is $1,020, with a year-over-year rent change of 8.3%. Per bedroom, the median rent as of July '25 in Springfield, OH is 1-bedrooms: $804, 3-bedrooms: $1,390. The most common rental property sizes in Springfield, OH are 2-bedroom and 3-bedroom, accounting for 42.6% and 29.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $1,020 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $795 | $804 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,250 | $1,390 |
| 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 60. This is a increase of 49.0% 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 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $259,000 | -6.0% |
Listing Count | 51 | 2.0% |
| Listings as % of Homes | 0.5% | 2.0% |
Days on Market | 60 | 49.0% |
Demographics — Springfield, OH
As of the latest ACS Survey released in 2023, Springfield, OH has a population of 16,700, which has decreased by -5.6% over the past 5 years. Springfield, OH is a moderately popular place for families, as children make up 21.0% of the population. The area has a moderately educated workforce, with 27.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,700 | -5.6% |
% Under 18 | 21.0% | 1.9% |
% Seniors | 20.7% | 7.8% |
% WFH | 8.5% | 44.1% |
% w/ College Degree | 27.2% | 2.6% |
As of the latest ACS Survey released in 2023, Springfield, OH is a predominantly white area, with 85.2% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Springfield, OH is black, making up 4.9% of the population. Foreign-born residents account for 2.1% of the population in Springfield, OH, and this percentage has decreased by 25.0% 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 | 85.2% | -3.5% |
% Black | 4.9% | 11.4% |
% Hispanic | 3.1% | 29.2% |
% Asian | 0.7% | -41.7% |
% Foreign Born | 2.1% | -25.0% |
Mortgage and Risk — Springfield, OH
According to HUD data as of 2023, there were 338 mortgage originations in Springfield, OH, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Springfield, OH. Investor activity is low, as 4.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 338 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
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 | 129 |
Total Units Section 8 | 96 |
% Rentals under Section 8 | 5.6% |
% Occupied Section 8 | 62.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $45 | $795 | $840 |
| 2 Bedroom | N/A | N/A | $1,100 |
| 3 Bedroom | $90 | $1,250 | $1,340 |
| 4 Bedroom | N/A | N/A | $1,530 |
Affordability — Springfield, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $205,000 |
| Median Household Income | $67,300 |