The typical home in Springfield, OH is worth about $155,000.
With 20% down that's a loan near $124,000 — the calculator
is pre-filled with that figure. Springfield's population has grown quickly in recent years as Haitian immigrants filled manufacturing and logistics jobs, a shift that drew national attention in 2024 and has strained local housing and school capacity even as home prices stay well below the state average.
$805.09 / month
Total interest
$165,828
Total paid
$289,828
Payoff
30.0 years
How much you need to earn
Springfield, OH's median household income is about
$53,000 a year. Under standard 28/36
lending rules that supports a home price around
$171,781 with 20% down —
comfortably above the $155,000 typical price.
Typical asking rent in Springfield, OH is about $950 a month, so owning the median home costs roughly
$178 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Springfield, OH?
On the metro's roughly $155,000 typical home with 20% down, the loan is about $124,000. Principal and interest run near $805 a month at today's rate, and Springfield, OH's property tax plus insurance add about $323, for a full payment near $1,128.
Can I afford a home in Springfield, OH on the median income?
The median household income is about $53,000 a year. Under standard 28/36 lending rules that supports a home price around $171,781 with 20% down — above the $155,000 typical price, so a median home is within reach.
Is it cheaper to rent or buy in Springfield, OH?
Typical asking rent is about $950 a month. The full owner payment on a median home is near $1,128, so owning costs roughly $178 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Springfield, OH?
The effective property tax rate in the core county is about 1.53% of market value — roughly $2,372 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Springfield, OH rising or falling?
Home values are up about 2% over the past year. Springfield's population has grown quickly in recent years as Haitian immigrants filled manufacturing and logistics jobs, a shift that drew national attention in 2024 and has strained local housing and school capacity even as home prices stay well below the state average.