Real Estate Investing in Springfield, Ohio (45502)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 45502 (Springfield, OH)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Springfield, OH (45502)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 45502 Springfield
ZIP 45502 inside Clark County looks affordable on the surface — median value of $316K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 45502 stands at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
From an investor standpoint, 45502 offers a low basis, the region around Springfield has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 45502 includes headwinds that any investor should price in. Income distribution skews lower than Springfield averages, and tenant stability requires active management.
Experienced landlords with local relationships tend to find 45502 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Springfield:
Property Strategy for 45502
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $201,264 | $1,220 | 4.4% | +8.0% | $100,632 |
| 3BR | $298,503 | $1,490 | 3.6% | +8.8% | $99,501 |
| 4BR | $370,650 | $1,730 | 3.4% | +8.2% | $92,663 |
| 5BR | $422,880 | — | — | +8.8% | $84,576 |
Market Trends
Home Value History (with trend line)
📊 How Does 45502 Compare?
| Metric | 45502 | Springfield | Springfield, OH | Ohio |
|---|---|---|---|---|
| Home Value | $315,897 | $164,132 | N/A | $237,530 |
| 5-Year CAGR | 6.7% | 7.2% | N/A | 7.4% |
| Avg Rent | $1,098 | $1,150 | N/A | - |
| Cap Rate | 2.7% | 5.2% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 45502 (Springfield, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $315,897 |
| Monthly Rent | $1,098 |
| Price-to-Rent | 24.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.4% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 45502
Population: 17,076
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 45502
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Clark Early Learning Center
Perrin Woods Elementary School
Snyder Park Elementary School
Fulton Elementary School
Snowhill Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,555 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in Springfield, OH?
Median home price in Springfield, OH is near $316K, with a 5-year CAGR of 0.0%. Prices have been steady and supportive of buy-and-hold strategies.
Is Springfield, OH a good market for buy-and-hold investors?
Our data puts Springfield, OH at 3.0/5 for investability. Home prices of $316K and rents around $1,098/mo create a solid backdrop for investor activity.
How high is vacancy risk in Springfield, OH?
Vacancy risk in Springfield, OH is elevated. That supports reliable cash flow for typical rental holds.
Is Springfield, OH landlord-friendly?
OH ranks as a landlord-friendly state for landlord-tenant law. Springfield generally follows the statewide framework, so landlords face reasonable operating rules.
How qualified is the tenant pool in Springfield, OH?
Expect a solid tenant pool in Springfield, OH. The rental market absorbs $1,098/mo rents without meaningful friction.
You know 45502 now. You don’t know where it ranks.
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How 45502 ranks in Springfield, OH
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