Springfield, OH Housing Market
AI-powered market intelligence for the Springfield, OH metro area.
PropertyIQ Scores
Springfield, OH Market Analysis
Market Overview
Springfield’s PropertyIQ Score of 53 out of 100 places the market in a moderate range, with relative housing affordability balanced against softer economic and momentum signals. The median home value is $202,115, compared with the Ohio state average of $248,803. That lower price level may help buyers, but the local median household income is $60,846, below the state average of $69,680. The unemployment rate is 4.4%, higher than the state average of 3.4%. Meanwhile, the rent index is $1,197, above the state benchmark of $988, suggesting comparatively strong rental market pricing.
The market’s top score drivers highlight both past momentum and recent cooling. Home value momentum over 12 months is 7.20%, while the 3-month momentum is -0.38%. The year-over-year change in median home value is -$2, essentially flat. Median days on market is 46 days, and 24.5% of listings have a price cut. These readings point to a market that appreciated over the past year but is now flattening or softening slightly. With 248 homes for sale, inventory gives buyers some choice, though the data does not provide a direct benchmark for local inventory levels. Population growth is not available, which limits a full demand-side view.
Key Trends
One trend is cooling home value momentum. The 12-month home value momentum of 7.20% shows appreciation over the past year, but the 3-month momentum of -0.38% and the year-over-year change of -$2 suggest values have flattened and may be softening in the near term. A price-cut share of 24.5% reinforces that some sellers are adjusting expectations.
A second trend is relative housing affordability compared with the state. Springfield’s median home value of $202,115 is well below the state average of $248,803. Local incomes are also lower, with median household income at $60,846 versus $69,680 statewide, but the gap in home values is larger in dollar terms. That can make buying more accessible relative to the state benchmark, especially for households with stable incomes.
A third trend is stronger rental pricing relative to the state. The rent index of $1,197 is above the state average of $988. Combined with a lower median home value, this may support investor interest, although the data does not include vacancy, property taxes, or operating costs.
A fourth trend is a moderate sales pace. Median days on market is 46 days, and there are 248 homes for sale. Combined with the 24.5% price-cut share, this suggests a balanced market rather than a fast-moving seller’s market.
Who Is This Market For
Springfield may appeal to first-time buyers and budget-conscious households because the median home value of $202,115 is lower than the state average of $248,803, and 24.5% of listings have had a price cut. The local median household income of $60,846 is below the state average, so affordability is still a constraint for some, but the lower home prices create an entry point for buyers who can qualify for financing. With the rent index at $1,197, above the state benchmark of $988, renting may not automatically be the cheaper fallback, which could push some residents toward ownership.
The market may also suit investors looking for rental income. The rent index is above the state average, while median home values are below it, a combination that may support cash-flow strategies. A median days on market of 46 days and a 24.5% price-cut share give investors some room to negotiate. Move-up buyers may find less near-term equity momentum because 3-month home value momentum is -0.38% and the year-over-year change is -$2, but those already selling and buying within the same market are still trading at relatively moderate price levels. The higher unemployment rate of 4.4% and missing population growth data suggest that long-term demand assumptions should be cautious.
Outlook
The near-term outlook is balanced to slightly soft. The 3-month home value momentum of -0.38%, the year-over-year change of -$2, and the 24.5% share of listings with price cuts all indicate that sellers may need to remain flexible. Median days on market of 46 days supports a steady but not rapid pace. The 12-month momentum of 7.20% shows that values did rise over the past year, but the recent cooling does not support expectations of continued rapid appreciation. Relative affordability compared with the state and a rent index above the state benchmark may support buyer and investor interest. However, the local unemployment rate of 4.4% and median household income of $60,846 are less supportive than state averages. Because population growth is not available, the data cannot confirm demographic-driven demand. Overall, the numbers point to a moderate market with flat to modestly soft home values in the near term.
AI-generated analysis based on current market data. Last updated September 25, 2026.
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Springfield, OH market data
Springfield, OH Housing Market Overview
Springfield, OH's median home value is $202K, up 7.2% over the past year. Homes here sell in a median 46 days. Its PropertyIQ Score of 53 sits right around the state average of 50.
The Springfield, OH metro area is one of 900+ US metropolitan markets that PropertyIQ scores each month. A single PropertyIQ Score blends Zillow price momentum with Realtor.com market-flow signals to estimate 3-year excess appreciation versus the market's state — showing not just where prices stand today, but how the market is positioned relative to its peers.
Midwestern housing markets are characterized by affordability and economic diversification. From manufacturing hubs undergoing tech-sector transitions to university towns with stable demand, the region offers value-oriented opportunities with lower entry costs than coastal markets. Within the Midwest, Springfield, OH's PropertyIQ Score of 53 tracks near the Midwest norm.
Ohio's housing market offers some of the Midwest's strongest value propositions, with affordable entry points and diversifying economies. Columbus leads state growth while Cleveland and Cincinnati undergo downtown revitalization.
The PropertyIQ Score for the Springfield, OH market is built from four inputs: Zillow home-value momentum over twelve months, Zillow home-value momentum over three months, the median days listings spend on the market (Realtor.com), and the share of listings with a price cut (Realtor.com). The score runs on a 1 to 99 scale computed across all metro markets nationally and calibrated so 50 equals the state average — a score above 50 means this market is positioned to outperform its state, and a score below 50 means it is set to lag. Momentum here has been positive, with home values up 7.2% over the past year.
Use PropertyIQ's interactive analytics to compare Springfield, OH against any other US metro on its PropertyIQ Score and underlying metrics. Generate a free AI market report, explore historical trends on the graphs page, or see how this market ranks on the scores dashboard.
Counties in the Springfield, OH metro area
ZIP codes in the Springfield, OH metro area
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Market data through August 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Springfield, OH a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Springfield, OH currently scores 53, a steady-momentum reading that leaves it tracking close to its state average. For buyers, a balanced market means neither side holds a decisive edge, giving you time to shop carefully without racing the clock. Backing that up, the median home value here is $202K, up 7.2% over the past year. So whether Springfield, OH is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Springfield, OH?
Springfield, OH's PropertyIQ Score is 53, indicating steady momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 53 places Springfield, OH above its state benchmark.
Are home prices in Springfield, OH rising or falling?
Home prices in Springfield, OH are rising. Over the past year, the median home value increased 7.2%, reaching $202K. Over the latest three months, values slipped 0.4%, a sign near-term demand is softening. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Springfield, OH's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Springfield, OH?
In Springfield, OH, homes sell in a median of 46 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 25% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Springfield, OH market data is refreshed on a monthly cycle, with the latest figures current through August 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.