Real Estate Investing in Springfield, Ohio (45506)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 45506 (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 balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 13.7% of homes vacant — above national norms.
What’s happening in Springfield, OH (45506)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 45506 Springfield
ZIP 45506 inside Clark County looks affordable on the surface — median value of $115K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 45506 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 45506 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 45506 includes headwinds that any investor should price in. Income distribution skews lower than Springfield averages, and tenant stability requires active management.
The 45506 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Springfield:
Property Strategy for 45506
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $84,346 | $1,120 | 9.6% | +13.3% | $42,173 |
| 3BR | $128,894 | $1,370 | 7.7% | +12.1% | $42,965 |
| 4BR | $130,345 | $1,590 | 8.8% | +9.5% | $32,586 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 45506 Compare?
| Metric | 45506 | Springfield | Springfield, OH | Ohio |
|---|---|---|---|---|
| Home Value | $114,852 | $164,132 | N/A | $237,530 |
| 5-Year CAGR | 7.5% | 7.2% | N/A | 7.4% |
| Avg Rent | $963 | $1,150 | N/A | - |
| Cap Rate | 6.5% | 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 45506 (Springfield, OH). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 45506 (Springfield, OH)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $114,852 |
| Monthly Rent | $963 |
| Price-to-Rent | 9.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.1% |
| Cap Rate | 6.5% |
| 5-Year IRR | 14.0% |
📈 Home Appreciation
| 1-Year | +2.4% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +10.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.5%). 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 45506
Population: 13,339
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 45506
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 2,589 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do home prices stand in Springfield, OH?
Expect median prices around $115K in Springfield, OH. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
Can I house hack in Springfield, OH?
House hacking in Springfield, OH is a challenging. With home values around $115K and rents at $963/mo, owner-occupants can offset a meaningful share of PITI.
Is the tenant base reliable in Springfield, OH?
Springfield, OH offers a reliable renter base at the $963/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is Springfield, OH a good place for real estate investing?
The 4.0/5 investability rating in Springfield, OH reflects its $115K prices and $963/mo rents. Investors generally consider it a solid option within OH.
Does Springfield, OH favor landlords or tenants?
Springfield, OH falls under OH landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
You know 45506 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 45506 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 45506 ranks in Springfield, OH
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 45506 (Springfield)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 45506 (Springfield, OH).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.