ZIP Code Market Report
45506 — Springfield, OH
Data through February 2026 · Updated monthly
Avg Home Value
$114,366
▲ 0.5% year-over-year
Month-over-Month
-0.7%
▼ 0.7%
Single Family
$113,402
Condo / Co-op
--
The average home value in the 45506 ZIP code (Springfield, Ohio) is $114,366 as of February 2026. Home prices are stable, up 0.5% compared to last year.
A 3-bedroom home in 45506 is valued at $127,671.
The market in 45506 has a $124,653 spread between bottom-tier homes at $64,815 and top-tier homes at $189,468. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 45506 ZIP code will decrease 0.2% over the next 12 months, bringing the projected average to approximately $114,138. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Clark County market area in Ohio. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Clark County report.
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Market Snapshot
45506 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $117,089 | $115,128 | $114,366 | ▼ 2.3% |
| Single Family Value | $113,112 | $113,147 | $113,402 | ▲ 0.3% |
Home Values
45506 Home Value Trend
Historical home values for ZIP code 45506. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 45506
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 2 Bedrooms | $82,612 |
| 3 Bedrooms | $127,671 |
| 4 Bedrooms | $127,528 |
Property Types
Home Values by Property Type in 45506
How different property types compare in this ZIP code.
All Homes
$114,366
Single Family
$113,402
Bottom Tier
$64,815
Top Tier
$189,468
Forecast
12-Month Home Value Forecast for 45506
Zillow projects home values in 45506 will decrease 0.2% over the next year, reaching approximately $114,138.
Current Value
$114,366
Projected Change
-0.2%
▼ 0.2%
Projected Value
$114,138
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 45506 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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