Springfield, OH
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.56×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Ohio
- 2.67×-0.11
- vs U.S.
- 3.43×-0.87
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
21.8%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Ohio
- 21.2%
- vs U.S.
- 23.3%-1.5
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
5.53%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Ohio
- 4.97%+0.56
- vs U.S.
- 4.35%+1.19
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.03%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Ohio
- -0.03%=
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
2.01
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Ohio
- 1.63+0.38
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
4.3%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Ohio
- 4.3%=
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+63.7%
homeValues.yearOverYear
+7.0%
Median home value
$155,900
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $843 | $10,116 | 16.6% |
| 2 BR | $1,106 | $13,272 | 21.8% |
| 3 BR | $1,355 | $16,260 | 26.7% |
Labor market direction
Unemployment
4.3%
Median household income
$60,846
What's being built
Total TTM
273
+131.4% YoY
Single-family
235
2–4 unit
4
5+ unit
34
All 1 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Clark County | 135,877 | $155,900 | $60,846 | 273 | +131.4% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Springfield | 135,877 | $60,846 | 2.56× | 5.53% | +63.7% | 2.01 | 4.3% |
| Battle Creek, MI | 134,011 | $60,385 | — | — | +58.4% | — | 5.1% |
| Morgantown, WV | 140,194 | $62,394 | — | — | +38.9% | — | 3.8% |
| Wheeling, WV-OH | 139,287 | $58,705 | — | — | +35.3% | — | 4.5% |
| Manhattan, KS | 133,834 | $64,096 | — | — | +35.6% | — | 3.2% |
| Hammond, LA | 133,953 | $57,256 | — | — | +39.7% | — | 4.7% |
Where people are moving in from
Net migration
-37
-0.03% of population
| Origin county | Tax returns |
|---|---|
| Montgomery County, OH | 477 |
| Franklin County, OH | 346 |
| Greene County, OH | 336 |
| Champaign County, OH | 254 |
| Miami County, OH | 130 |
| Madison County, OH | 114 |
Who lives in Springfield
- Median age
- 41
- Bachelor's+
- 18.5%
- Owner-occupancy
- 69.2%
- Vacancy rate
- 9.4%
- Rent burdened (30%+)
- 41.5%
- Median household income
- $60,846
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.