Real Estate Investing in Springfield, Ohio (45504)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 45504 (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: 11.3% vacancy may signal weakening demand.
What’s happening in Springfield, OH (45504)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 45504 Springfield
This part of Clark County is not an easy win. The 45504 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $215K asset, 45504 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 45504 sits on the difficult end of the OH spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 45504 includes headwinds that any investor should price in. Income distribution skews lower than Springfield averages, and tenant stability requires active management.
The right play in 45504 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Springfield:
Property Strategy for 45504
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $156,091 | $1,150 | 5.3% | +10.6% | $78,045 |
| 3BR | $221,087 | $1,410 | 4.6% | +8.8% | $73,696 |
| 4BR | $310,135 | $1,630 | 3.8% | +8.5% | $77,534 |
| 5BR | $383,386 | — | — | +8.2% | $76,677 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 45504 Compare?
| Metric | 45504 | Springfield | Springfield, OH | Ohio |
|---|---|---|---|---|
| Home Value | $215,444 | $164,132 | N/A | $237,530 |
| 5-Year CAGR | 7.1% | 7.2% | N/A | 7.4% |
| Avg Rent | $1,141 | $1,150 | N/A | - |
| Cap Rate | 4.1% | 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 45504 (Springfield, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $215,444 |
| Monthly Rent | $1,141 |
| Price-to-Rent | 15.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.1% |
| 5-Year IRR | 11.2% |
📈 Home Appreciation
| 1-Year | +6.5% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 (4.1%). 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 45504
Population: 16,654
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 45504
Schools in This ZIP Code
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
Shawnee Middle School/High School
Shawnee Elementary School
Northwestern Elementary School
Northwestern Junior/Senior High 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
Is Springfield, OH better for rentals, flips, or BRRRR?
A careful cash-flow rentals with hands-on management strategy Springfield, OH best. The market produces consistent results for that approach at the $215K price point.
What kind of tenants rent in Springfield, OH?
Expect a solid tenant pool in Springfield, OH. The rental market absorbs $1,141/mo rents without meaningful friction.
How much should I expect to pay for a home in Springfield, OH?
The median home value in Springfield, OH is roughly $215K. That puts it reasonable relative to the OH statewide average.
Is house hacking profitable in Springfield, OH?
The house hack math a challenging in Springfield, OH. Owner-occupant buyers benefit from the $1,141/mo rents and $215K home values.
How strict are landlord regulations in Springfield, OH?
OH law landlord-friendly for landlords, and Springfield inherits those rules. Investors should still review local ordinances for rental licensing.
You know 45504 now. You don’t know where it ranks.
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How 45504 ranks in Springfield, OH
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