Department of Numbers

Springfield Ohio Residential Rent and Rental Statistics

The median monthly gross residential rent in Springfield, OH (the Springfield metro area) was $755 in 2016 according to the Census ACS survey.1 Average gross rent in Springfield was $723 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Springfield median and average rent data will be released in September of 2018.

Data is also available below for Springfield rental vacancy rates, Springfield rent as a percent of median income and the fraction of renters in Springfield.

Show dollars as: Nominal Real

Real Gross Rent in Springfield Ohio (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Ohio Median Gross Rent $759 +0.40% +6.45%
Springfield, OH Median Gross Rent $755 +7.09% +15.62%

Springfield, OH Real Gross Rent Trends

At $755, real median gross rent in Springfield was at its highest level in 2016 since the series began in 2005. Average gross rent for Springfield peaked in real terms in 2006 at $725 and is now $2 (0.28%) lower. From a recent low of 622.0 in 2007, real average gross rent has now increased by $101 (16.24%).

Real Gross Rent in Springfield: Springfield OH Median, Springfield OH Average, Ohio Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Springfield

Date US
Median
Ohio
Median
Springfield, OH
Median
Springfield, OH
Average
2016 $981 $759 $755 $723
2015 $972 $756 $705 $725
2014 $942 $741 $664 $659
2013 $910 $713 $653 $656
2012 $898 $711 $657 $639
2011 $898 $714 $657 $649
2010 $912 $731 $684 $693
2009 $916 $729 $667 $691
2008 $932 $754 $684 $682
2007 $885 $721 $651 $622
2006 $895 $735 $733 $725
2005 $869 $732 $689 $645

Springfield Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Springfield Ohio was 1.56% according to Census ACS data.

Rental Vacancy Rate in Springfield Ohio

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Ohio 5.44% -0.12% -0.71%
Springfield, OH 1.56% -2.71% -6.14%

Trends in Springfield, OH Rental Vacancy Rate

The rental vacancy rate in Springfield peaked in 2013 at 7.70%. Since then it has fallen by 6.14% to 1.56%. Data records for this series originated in 2005.

Rental Vacancy Rate: Springfield OH, Ohio, US

Rental vacancy rate in Ohio

Historical Rental Vacancy Rate data for Springfield

Date US Ohio Springfield, OH
2016 5.89% 5.44% 1.56%
2015 5.85% 5.56% 4.27%
2014 6.32% 6.26% 4.57%
2013 6.49% 6.15% 7.70%
2012 6.77% 7.08% 6.65%
2011 7.40% 7.89%
2010 8.17% 9.45%
2009 8.43% 9.17%
2008 7.86% 9.68%
2007 7.87% 10.00%
2006 7.70% 10.68% 7.27%
2005 7.74% 10.37%

Rent as a Fraction of Income

Using median household income data for Springfield, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Springfield, median monthly gross rent as a fraction of median household income was 19.35% in 2016 according to the ACS.

Springfield Ohio Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Ohio 17.40% -0.12% -0.29%
Springfield, OH 19.35% +1.94% +1.55%

Trends in Springfield, OH Rent as a Fraction of Income

The fraction of median Springfield household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 19.82%. Since then it has fallen by 0.46% to 19.35%.

Fraction of Income towards Rent: Springfield OH, Ohio, US

Percent of median household income going towards median monthly gross rent in Springfield Ohio

Historical Data for Annual Rent as a Fraction of Income in Springfield Ohio

Date US Ohio Springfield, OH
2016 20.43% 17.40% 19.35%
2015 20.63% 17.53% 17.41%
2014 20.89% 17.89% 18.95%
2013 20.78% 17.70% 17.80%
2012 20.65% 17.94% 19.82%
2011 20.70% 18.15% 18.51%
2010 20.50% 18.23% 19.43%
2009 20.12% 17.71% 17.36%
2008 19.00% 16.68% 15.97%
2007 18.66% 16.56% 16.30%
2006 18.90% 16.90% 17.63%
2005 18.89% 16.91% 17.61%

Renter Fraction in Springfield Ohio

You can calculate the renter fraction in Springfield in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Springfield as a fraction of total Springfield households. In 2016 36.09% of households were renters according to Census ACS data.

Springfield Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Ohio 34.64% +0.05% +0.71%
Springfield, OH 36.09% +1.59% +4.17%

Trends in the Springfield, OH Renter Fraction

At 36.09%, the 2016 household based renter fraction in Springfield was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Springfield OH, Ohio, US

Fraction of renters in Springfield

History of Springfield Renter Fraction

Date US Ohio Springfield, OH
2016 36.88% 34.64% 36.09%
2015 36.97% 34.59% 34.50%
2014 36.90% 34.67% 36.08%
2013 36.50% 33.93% 31.92%
2012 36.09% 33.71% 35.32%
2011 35.42% 33.02% 32.01%
2010 34.65% 31.60% 35.41%
2009 34.13% 31.95% 31.03%
2008 33.36% 30.95% 28.61%
2007 32.80% 30.32% 27.05%
2006 32.73% 29.99% 30.88%
2005 33.10% 30.06% 28.21%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.