45505, Springfield, OH

The 45505 zip code of Springfield, Ohio is located in the southeastern corner of the state and includes portions of both Clark and Greene counties. As of the 2010 census, the population was 97,829. The median household income was $60,527, and the median family income was $72,906. Home prices in Springfield peaked in 2007 at $158,500 before falling to a low of $118,000 by 2011. In 2012 home prices increased to a median price of $130,000. As of 2016 home prices are estimated to be around $140,000.

The primary driver behind home equity and home prices in Springfield is demand from local buyers and investors as well as limited supply due to restrictive zoning regulations that limit development within certain areas. Additionally, strong economic conditions have contributed to increased demand for housing throughout Ohio and across the United States. Despite these positive factors there are some challenges facing homeowners in Springfield including rising interest rates and increasing costs associated with maintaining a home such as repairs or upgrades.