Real Estate Investing in Springfield, Ohio (45505)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 45505 (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.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- High vacancy: 13.4% of homes vacant — above national norms.
- Elevated poverty: 21.5% poverty rate — can affect rent collection.
What’s happening in Springfield, OH (45505)?
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Market Analysis: 45505 Springfield
Investors eyeing 45505 need to respect the fundamentals at play. Home values of $130K come alongside slower price movement and elevated management overhead.
The investment case in 45505 is robust only for operators who understand what they are buying. A $130K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 45505 among OH's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
From an investor standpoint, 20,299 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 45505 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Springfield:
Property Strategy for 45505
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $104,888 | $1,070 | 7.3% | +14.1% | $52,444 |
| 3BR | $138,360 | $1,310 | 6.8% | +11.4% | $46,120 |
| 4BR | $173,288 | $1,520 | 6.3% | +8.5% | $43,322 |
| 5BR | $192,266 | — | — | +8.6% | $38,453 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 45505 Compare?
| Metric | 45505 | Springfield | Springfield, OH | Ohio |
|---|---|---|---|---|
| Home Value | $130,360 | $164,132 | N/A | $237,530 |
| 5-Year CAGR | 8.5% | 7.2% | N/A | 7.4% |
| Avg Rent | $1,198 | $1,150 | N/A | - |
| Cap Rate | 7.2% | 5.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 45505 (Springfield, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $130,360 |
| Monthly Rent | $1,198 |
| Price-to-Rent | 9.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 11.0% |
| Cap Rate | 7.2% |
| 5-Year IRR | 15.7% |
📈 Home Appreciation
| 1-Year | +8.3% ▲ |
| 3-Year CAGR | +8.1% ▲ |
| 5-Year CAGR | +8.5% ▲ |
| 10-Year CAGR | +9.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (7.2%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 45505
Population: 20,299
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 45505
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 2,589 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?
Working renters make up the core of the Springfield, OH tenant base. The pool is reasonable for investors targeting long-term holds.
Does Springfield, OH favor landlords or tenants?
For rental operators, Springfield, OH rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What price range are homes in Springfield, OH?
Homes in Springfield, OH typically sell near $130K. Prices have moved at a 0.0% 5-year CAGR, which consistent long-term demand.
What is the typical vacancy rate in Springfield, OH?
Rental vacancy in Springfield, OH is elevated. Investors should budget normal turnover but not chronic empty units.
What is the average monthly rent in Springfield, OH?
The typical rental in Springfield, OH commands about $1,198/mo monthly. That rent profile consistent cash flow against the $130K purchase basis.
You know 45505 now. You don’t know where it ranks.
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How 45505 ranks in Springfield, OH
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