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Springfield, OH—45503

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$197,000
4.4% YoY Growth
Household Income
$54,600
18.0% YoY Growth
Days on Market
39
18.0% Longer YoY
Home Price Forecast
3.1%
Median Rent
$1,200
2.6% YoY Growth
1-Bed Rent
$825
6.0% YoY Growth
2-Bed Rent
$975
4.7% YoY Growth
3-Bed Rent
$1,450
8.7% YoY Growth

Other Zip Codes in Springfield, OH

45502455064550445505
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Springfield, OH

As of May '26, the median home price in Springfield, OH is $197,000, with a year-over-year change of 4.4%. This indicates that home prices in Springfield, OH are increasing. According to Zillow, the 1-year price projection is 3.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$197,0004.4%
Single Family $198,0004.8%
Condos $188,0000.5%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $88,000
    4.8%
    2 Bed
    		$155,0002.6%
    3 Bed
    		$211,0004.5%
    4 Bed
    		$274,0004.2%
    5 Bed $287,5225.0%
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    % of Housing Stock

    Studio
    0.7%
    1 Bedroom
    10.9%
    2 Bedrooms
    34.2%
    3 Bedrooms
    39.3%
    4 Bedrooms
    12.6%
    5+ Bedrooms
    2.1%

    Rental Trends — Springfield, OH

    As of July '25, Rentcast reports the average rent in Springfield, OH is $1,190, with a year-over-year rent change of 2.6%. Per bedroom, the median rent as of July '25 in Springfield, OH is studios: $617, 1-bedrooms: $832, 2-bedrooms: $1,000, 3-bedrooms: $1,500, 4-bedrooms: $1,720. The most common rental property sizes in Springfield, OH are 2-bedroom and 1-bedroom, accounting for 44.7% and 25.8% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,200$1,190
    Studio Rent $650$617
    1 Bed Rent $825$832
    2 Bed Rent $975$1,000
    3 Bed Rent $1,450$1,500
    4 Bed Rent $1,770$1,720
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    % of Rental Stock

    Studio
    1.7%
    1 Bedroom
    25.8%
    2 Bedrooms
    44.7%
    3 Bedrooms
    20.4%
    4 Bedrooms
    7.1%
    5+ Bedrooms
    0.3%

    Property Listings — Springfield, OH

    As of May '26, Realtor.com reports that the median days on market for a home in Springfield, OH is 39. This is a increase of 18.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$200,0005.0%
    Listing Count
    		105-12.0%
    Listings as % of Homes0.4%-12.0%
    Days on Market
    		3918.0%
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    Demographics — Springfield, OH

    As of the latest ACS Survey released in 2023, Springfield, OH has a population of 32,700, which has remained stable by 1.0% over the past 5 years. Springfield, OH is a moderately popular place for families, as children make up 23.2% of the population. The area has a poorly educated workforce, with 17.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		32,7001.0%
    % Under 18
    		23.2%9.4%
    % Seniors
    		21.9%-0.9%
    % WFH
    		6.0%130.8%
    % w/ College Degree
    		17.5%-7.9%
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    As of the latest ACS Survey released in 2023, Springfield, OH is a predominantly white area, with 83.6% of the population identifying as white. The white population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Springfield, OH is black, making up 8.6% of the population. Foreign-born residents account for 1.9% of the population in Springfield, OH, and this percentage has increased by 18.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		83.6%-1.8%
    % Black
    		8.6%26.5%
    % Hispanic
    		2.1%23.5%
    % Asian
    		0.9%-10.0%
    % Foreign Born
    		1.9%18.8%
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    Mortgage and Risk — Springfield, OH

    According to HUD data as of 2023, there were 528 mortgage originations in Springfield, OH, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Springfield, OH. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		528
    % Conventional Loans
    		73.0%
    % Government Loans
    		27.0%
    % Investor Loans
    		3.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		13.0%
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    Rentals and Section 8 — Springfield, OH

    As of 2024, the percent of homes in Springfield, OH under the Section 8 program is 13.3%. 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 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Springfield, OH, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		908
    Total Units Section 8
    		734
    % Rentals under Section 8
    		13.3%
    % Occupied Section 8
    		72.9%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$25$825$850
    2 Bedroom$135$975$1,110
    3 Bedroom-$100$1,450$1,350
    4 Bedroom-$230$1,770$1,540

    Affordability — Springfield, OH

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.9
    Median Home Price$197,000
    Median Household Income$54,600

    Springfield, OH — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Springfield, OH

    45505

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    Springfield, OH

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    Frequently Asked Questions