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Springfield city, OH

ZIP 45505 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 45505

Median Home Value
$87,500
Median Rent
$582
Affordability Snapshot
$24,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$562/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.1x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

12.5 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 45505 in Springfield city, OH, a household would need roughly $24,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $562. That sits below the local median household income ($42,409), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 13% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
53.2%-19% vs US avg
x
Vacancy Rate
13.1%+27% vs US avg
x
Broadband Access
87.9%+1% vs US avg
x
4+ Bedrooms
1.3%-91% vs US avg
x
Built Pre-1939
11.7%-9% vs US avg
x
Built Post-2014
0.1%-98% vs US avg
x
Rent Burden >30%
20.5%-59% vs US avg
x
Mortgage-Free
42.7%+12% vs US avg
x
$87,500
Home Value
$582
Rent
1949
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached70.6%
  • 1-unit attached10.3%
  • 2-9 units11.6%
  • 10+ units7.1%
  • Mobile home & other0.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$87,500
Median rent$582
Owner-occupied53.2%
Vacant13.1%
Price-to-income2.1x
Est. income to buy$24,000