Real Estate Investing in Springfield, Oregon (97478)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97478 (Springfield, OR)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
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.
What’s happening in Springfield, OR (97478)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97478 Springfield
ZIP 97478 inside Lane County looks affordable on the surface — median value of $438K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $1,758/mo on a $438K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 97478 sits below the stated 0.0% once reality is priced in.
Within OR, ZIP 97478 trails on several market indicators that neighboring Lane County submarkets outperform. The gap is real and impressive enough to shape underwriting.
Demographically, 97478 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 97478 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 97478
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $357,873 | $1,310 | 2.6% | +4.0% | $357,873 |
| 2BR | $343,582 | $1,720 | 3.6% | +5.7% | $171,791 |
| 3BR | $416,601 | $2,390 | 4.1% | +5.9% | $138,867 |
| 4BR | $508,147 | $2,890 | 4.1% | +6.0% | $127,037 |
| 5BR | $541,652 | — | — | +6.4% | $108,330 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97478 Compare?
| Metric | 97478 | Springfield | Eugene-Springfield, OR | Oregon |
|---|---|---|---|---|
| Home Value | $437,611 | $422,099 | N/A | $493,884 |
| 5-Year CAGR | 3.1% | 2.9% | N/A | 4.9% |
| Avg Rent | $1,758 | $1,690 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
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 97478 (Springfield, OR). Anonymous, moderated, never written by AI.
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Property managers serving Lane County
Manage rentals here? List your business →Preferred Northwest Property Management offers comprehensive property management services to make managing properties easy, effortless, and affordable. summary from their website
Trio Property Management Inc. provides property management services in Eugene, Springfield, Veneta, Coburg, Junction City, Creswell, and Elmira, helping owners protect rentals and increase returns. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $437,611 |
| Monthly Rent | $1,758 |
| Price-to-Rent | 20.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 6.2% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +3.1% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | -3.4% ▼ |
| 3-Year CAGR | +1.6% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). 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 97478
Population: 39,267
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 97478
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 5,790 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average monthly rent in Springfield, OR?
Expect rents around $1,758/mo per month in Springfield, OR. With home values at $438K, the yield math works out to reasonable levels for rental investors.
How tight is the rental market in Springfield, OR?
Springfield, OR carries elevated vacancy risk. Expect measured absorption at market rents of $1,758/mo.
How does Springfield, OR stack up for property investment?
Yes - Springfield, OR a 3.0/5 investability score. With $438K home prices against $1,758/mo monthly rent, the market delivers a reasonable entry point for new investors.
Is Springfield, OR suited for a house hack?
The a challenging house-hack environment in Springfield, OR reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Is Springfield, OR a friendly market for rental owners?
For rental operators, Springfield, OR rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 97478 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97478 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 97478 ranks in Eugene-Springfield, OR
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