Springfield, OH

Very Low · 49

Ohio · Population 58,410 · Updated March 2026

$805
Median Rent / Month
$45,883
Median Income
$107,600
Median Home Value
$788
Owner Costs / Month

Affordability

How far your income goes in Springfield

21.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Ohio

State-level tax rates that affect your costs

3.5%
Income Tax (Top Rate)
5.75%
Sales Tax
1.53%
Property Tax Rate

Estimated Annual Costs

$9,660
Annual Rent
$1,606
State Income Tax
$1,646
Property Tax (est.)

Cost of Living Overview

Springfield is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 49 (where 100 equals the national median), Springfield residents can expect to pay median rent of $805/month while earning a median household income of $45,883/year.

The median home value in Springfield, OH is $107,600, with typical monthly owner costs around $788 including mortgage, insurance, and taxes. The median rent-to-income ratio of 21.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Ohio has a moderate income tax rate of 3.5%. Combined with a 5.75% sales tax rate and 1.53% effective property tax rate, the overall tax environment is a factor in the total cost of living in Springfield.

Frequently Asked Questions

Common questions about living costs in Springfield

What is the cost of living in Springfield, OH?
The cost of living index in Springfield, OH is 49 (US average = 100). Median monthly rent is $805, median household income is $45,883/year, and the median home value is $107,600.
Is Springfield, OH affordable?
Yes, Springfield is more affordable than the national average with a cost index of 49. The rent-to-income ratio is 21.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Springfield, OH?
The median gross rent in Springfield, OH is $805 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,660.
What is the median household income in Springfield?
The median household income in Springfield, OH is $45,883 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Ohio?
Ohio has a top income tax rate of 3.5%, a sales tax of 5.75%, and an effective property tax rate of 1.53%.