Real Estate Investing in Springfield, Ohio (45503)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 45503 (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.
- Elevated vacancy: 8.8% vacancy may signal weakening demand.
What’s happening in Springfield, OH (45503)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 45503 Springfield
ZIP 45503 in Springfield, OH carries a durable set of headwinds. Home values near $197K and rents of $1,007/mo sit inside a market where underwriting has to be tight.
The investment case in 45503 is sturdy only for operators who understand what they are buying. A $197K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 45503's metrics run below Clark County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 45503 ZIP's population of 32,673 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reports the need for careful underwriting.
Experienced landlords with local relationships tend to find 45503 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 45503
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $87,224 | $880 | 7.3% | +13.7% | $87,224 |
| 2BR | $150,906 | $1,160 | 5.5% | +10.7% | $75,453 |
| 3BR | $201,159 | $1,420 | 5.1% | +9.1% | $67,053 |
| 4BR | $262,915 | $1,650 | 4.5% | +8.9% | $65,729 |
| 5BR | $279,045 | — | — | +8.1% | $55,809 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 45503 Compare?
| Metric | 45503 | Springfield | Springfield, OH | Ohio |
|---|---|---|---|---|
| Home Value | $196,691 | $164,132 | N/A | $237,530 |
| 5-Year CAGR | 7.6% | 7.2% | N/A | 7.4% |
| Avg Rent | $1,007 | $1,150 | N/A | - |
| Cap Rate | 4.0% | 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 45503 (Springfield, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $196,691 |
| Monthly Rent | $1,007 |
| Price-to-Rent | 16.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 4.0% |
| 5-Year IRR | 11.6% |
📈 Home Appreciation
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +7.6% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 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 (4.0%). 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 45503
Population: 32,673
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 45503
Schools in This ZIP Code
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
How qualified is the tenant pool in Springfield, OH?
The tenant pool in Springfield, OH is solid, supported by local employment and population fundamentals. Rents of $1,007/mo are well-absorbed by the market.
What strategy should investors use in Springfield, OH?
Investors usually favor careful cash-flow rentals with hands-on management in Springfield, OH. With home values at $197K and rents near $1,007/mo, other strategies can work but produce measured rather than outsized returns.
What are vacancy rates like in Springfield, OH?
Vacancy in Springfield, OH is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,007/mo.
Is house hacking profitable in Springfield, OH?
House hacking works a challenging in Springfield, OH. Rents of $1,007/mo against $197K acquisition make the strategy solid for owner-occupants.
How much does a house cost in Springfield, OH?
Homes in Springfield, OH typically sell near $197K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
You know 45503 now. You don’t know where it ranks.
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How 45503 ranks in Springfield, OH
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