Springfield housing market
Typical home value
$200K
▲ 3.2% 1 yr
Typical rent
$1,199/mo
▲ 8.5% 1 yr
12-month forecast
+3.4%
#97 of 546 metros
Gross rent yield
7.2%
#104 of 546 · U.S. 6.3%
Days to pending
27 days
▼ −8 days 1 yr
Listings with a price cut
32%
▲ +0.3 pts 1 yr
Key takeaways
- 1The typical home is worth $199,688, up 3.2% in a year and up 39% over five years.
- 2Zillow forecasts home values rising 3.4% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,199/mo (+8.5% YoY), a 7.2% gross yield, above the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,097/mo in principal and interest, $102 less than renting.
- 5Homes go under contract in 27 days (−8 days vs last year); 32% of listings have had a price cut.
Market temperature
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 41/100, #265 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Springfield compares
| Measure | Springfield | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +3.2% | +1.2% | #181 |
| Home value, 5-yr change | +38.6% | +19.7% | |
| 12-month forecast | +3.4% | +1.1% | #97 |
| Rent, 1-yr change | +8.5% | +2.7% | #23 |
| Gross rent yield | 7.2% | 6.3% | #104 |
| Price-to-rent ratio | 13.9 | 15.8 | |
| Mortgage P&I on typical home | $1,097 | $2,012 | |
| Income needed to buy | $58,623 | $100,902 | |
| Days to pending | 27 | 56 |
Cities in the Springfield metro
1 cities with home value and rent data.
| Springfield | $188K | ▲ 3.2% | $1,222 | ▲ 9.5% | 7.8% |
Run the numbers
Rental property calculator
Cash flow on a typical Springfield rental ($200K, $1,199/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Springfield home.
Rent vs buy
Is it cheaper to rent or buy in Springfield?
Renting out a property in Ohio? See deposit limits, late fee rules and notice periods.
Other Ohio metros
Cincinnati, OH
$306K home$1,522 rent6.0% yield
▲ 2.2% 1 yr
Columbus, OH
$327K home$1,525 rent5.6% yield
▲ 1.3% 1 yr
Cleveland, OH
$250K home$1,440 rent6.9% yield
▲ 3.9% 1 yr
Akron, OH
$240K home$1,306 rent6.5% yield
▲ 4.0% 1 yr
Toledo, OH
$202K home$1,264 rent7.5% yield
▲ 3.3% 1 yr
Youngstown, OH
$175K home$1,047 rent7.2% yield
▲ 4.8% 1 yr
Canton, OH
$218K home$1,141 rent6.3% yield
▲ 4.5% 1 yr
Huntington, WV
$166K home$1,086 rent7.8% yield
▲ 1.5% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.