Springfield, Oregon Housing Market Prices
Springfield Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 48% above the Oregon median$602,877
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Median rent 18% below the Oregon median$1,247
Housing Market Overview
| Metric | Springfield | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $602,877 | $406,603 | $248,835 |
| Price Trend (Annual %) | 135.4% | 9.4% | 7.5% |
| Median Gross Rent | $1,247 | $1,525 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Springfield is about 48% higher than in Oregon. Rent is about 18% lower than the Oregon average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Springfield, up about 135.4% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Springfield rose about 55.1% between 2015 and 2024, from $804 to $1,247. Over the same span, rent in Oregon rose about 68.2%.
Affordability
On average, housing unit costs 9.0 yearly household incomes in Springfield.
Buying the median-priced home in Springfield costs roughly 40.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Springfield. The price-to-rent ratio in Oregon is about 22.2.
| Metric | Springfield | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $602,877 | $406,603 | $248,835 |
| Median Household Income | $67,066 | $83,617 | $80,455 |
| Price-to-Income Ratio | 9.0 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Springfield rose about 259.1%, while median household income rose about 69.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Springfield | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.1% | 58.6% | 58.5% |
| Rental Rate | 45.0% | 33.9% | 31.2% |
| Vacancy Rate | 2.9% | 7.5% | 10.2% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Springfield has a homeownership rate of 52.1%, lower than the Oregon average of 58.6%. Its housing vacancy rate is 2.9%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Springfield | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.41 people | 2.53 people |
| Median Structure Built Year | 1974 | 1980 | 1978 |
| Median Number of Rooms | 4.9 | 5.3 | 5.5 |
The typical housing unit in Springfield was built around 1974. On average, 2.4 people live in a home with about 4.9 rooms, staying for about 12.0 years on average.
Springfield, OR Housing Compared With Nearby Cities
How Springfield, OR compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Springfield, OR | 47,749 | $602,877 #1/2 | $1,247 #2/2 | 53.7% #1/2 |
| Eugene, OR | 156,905 | $241,828 | $1,382 | 46.2% |
Frequently Asked Questions
Common questions about the housing market in Springfield, Oregon.
What is the median home price in Springfield, Oregon?
The median home price in Springfield, Oregon is $602,877, higher than the Oregon average of $406,603.
What is the average home price in Springfield, Oregon?
The typical home price in Springfield, Oregon, reported as the median sale price, is $602,877. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Springfield, Oregon?
The median gross rent in Springfield, Oregon is $1,247 per month, lower than the Oregon average of $1,525.
What was the median gross rent in Springfield in 2020?
In 2020, the median gross rent in Springfield, Oregon was $968 per month.
What is the price-to-rent ratio in Springfield, Oregon?
The price-to-rent ratio in Springfield, Oregon is about 40.3, meaning it would take roughly 40.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Springfield.
Are home prices or rent rising faster in Springfield, Oregon?
Both home prices and rent are rising in Springfield, up about 135.4% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Springfield, Oregon?
52.1% of households in Springfield, Oregon own their home, lower than the Oregon average of 58.6%.
What is the vacancy rate in Springfield, Oregon?
The housing vacancy rate in Springfield, Oregon is 2.9%, lower than the Oregon average of 7.5%.
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