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Springfield, OR—97477

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$391,000
0.8% YoY Growth
Household Income
$63,600
53.2% YoY Growth
Days on Market
84
33.0% Longer YoY
Home Price Forecast
0.6%
Median Rent
$1,550
12.0% YoY Growth
1-Bed Rent
$1,020
16.2% YoY Growth
2-Bed Rent
$1,500
7.9% YoY Growth
3-Bed Rent
$1,900
7.6% YoY Growth

Other Zip Codes in Springfield, OR

97478
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Springfield, OR

As of Dec '25, the median home price in Springfield, OR is $391,000, with a year-over-year change of -0.8%. This indicates that home prices in Springfield, OR are flat. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$391,000-0.8%
Single Family $394,000-0.8%
Condos $234,000-1.3%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $265,000
    2.7%
    2 Bed
    		$312,000-1.6%
    3 Bed
    		$401,000-0.7%
    4 Bed
    		$451,000-0.9%
    5 Bed $493,087-0.1%
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    % of Housing Stock

    Studio
    2.6%
    1 Bedroom
    14.0%
    2 Bedrooms
    31.7%
    3 Bedrooms
    41.4%
    4 Bedrooms
    9.0%
    5+ Bedrooms
    1.3%

    Rental Trends — Springfield, OR

    As of July '25, Rentcast reports the average rent in Springfield, OR is $1,680, with a year-over-year rent change of 12.0%. Per bedroom, the median rent as of July '25 in Springfield, OR is studios: $1,140, 1-bedrooms: $1,110, 2-bedrooms: $1,500, 3-bedrooms: $2,130, 4-bedrooms: $2,650. The most common rental property sizes in Springfield, OR are 2-bedroom and 1-bedroom, accounting for 45.0% and 26.4% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,550$1,680
    Studio Rent $1,080$1,140
    1 Bed Rent $1,020$1,110
    2 Bed Rent $1,500$1,500
    3 Bed Rent $1,900$2,130
    4 Bed Rent $2,700$2,650
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    % of Rental Stock

    Studio
    4.9%
    1 Bedroom
    26.4%
    2 Bedrooms
    45.0%
    3 Bedrooms
    20.2%
    4 Bedrooms
    3.2%
    5+ Bedrooms
    0.3%

    Property Listings — Springfield, OR

    As of Dec '25, Realtor.com reports that the median days on market for a home in Springfield, OR is 61. This is a increase of 34.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$445,0005.0%
    Listing Count
    		832.0%
    Listings as % of Homes0.3%2.0%
    Days on Market
    		8433.0%
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    Demographics — Springfield, OR

    As of the latest ACS Survey released in 2023, Springfield, OR has a population of 37,800, which has increased by 2.2% over the past 5 years. Springfield, OR is a moderately popular place for families, as children make up 19.3% of the population. The area has a poorly educated workforce, with 22.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.4% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		37,8002.2%
    % Under 18
    		19.3%-1.5%
    % Seniors
    		18.3%13.7%
    % WFH
    		10.4%181.1%
    % w/ College Degree
    		22.6%12.4%
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    As of the latest ACS Survey released in 2023, Springfield, OR is a predominantly white area, with 77.1% of the population identifying as white. The white population has shrunk by 6.7% in the last 5 years. The second most common race or ethnicity in Springfield, OR is hispanic, making up 13.4% of the population. Foreign-born residents account for 6.2% of the population in Springfield, OR, and this percentage has decreased by 4.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		77.1%-6.7%
    % Black
    		0.9%12.5%
    % Hispanic
    		13.4%65.4%
    % Asian
    		1.3%-27.8%
    % Foreign Born
    		6.2%-4.6%
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    Mortgage and Risk — Springfield, OR

    According to HUD data as of 2023, there were 622 mortgage originations in Springfield, OR, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Springfield, OR. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		622
    % Conventional Loans
    		81.0%
    % Government Loans
    		19.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		7.0%
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    Rentals and Section 8 — Springfield, OR

    As of 2024, the percent of homes in Springfield, OR under the Section 8 program is 9.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Springfield, OR, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		959
    Total Units Section 8
    		695
    % Rentals under Section 8
    		9.5%
    % Occupied Section 8
    		97.7%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$20$1,020$1,040
    2 Bedroom-$130$1,500$1,370
    3 Bedroom$20$1,900$1,920
    4 Bedroom-$400$2,700$2,300

    Affordability — Springfield, OR

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio6.1
    Median Home Price$391,000
    Median Household Income$63,600

    Springfield, OR — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Frequently Asked Questions