Investment metrics, interactive calculators, and data-driven analysis for Springfield rental properties.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
Pre-filled with Springfield medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Springfield.
Springfield, OH has a population of 50,000 and has been growing at 0.2% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $195,000 paired with median rents of $1,120/mo produces an estimated cap rate of 4.05%.
Property taxes at 1.58% are notably high and represent a significant drag on cash flow — model this expense carefully, as it can make or break a deal. The vacancy rate of 6.7% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 4.1x, homes cost about 4.1 times the local median income of $47,711. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 2.2% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Springfield presents moderate opportunities. Cap rates near 4.05% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.