Location: Springfield, OH | Metro: Springfield, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,470 |
| 5 Bedrooms | $2,865 |
| 6 Bedrooms | $3,209 |
| 7 Bedrooms | $3,466 |
| 8 Bedrooms | $3,639 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 45349 reveals a unique blend of yield and stability that does not clearly fit into either a high-yield/low-stability flip-style market or a steady-cashflow zone. Let's break down the specifics:
Yield: The Fair Market Rent (FMR) for ZIP 45349 in fiscal year 2024 is set at $1280. This figure represents the rental income potential per unit. However, the median home value of $183,716 suggests a relatively stable property value, which is higher than what might be expected in a typical high-yield/low-stability area where quick flips are common.
Stability: The rental market in ZIP 45349 shows a low percentage of renters at 2.0%, indicating a primarily owner-occupied community. While this can contribute to stability, the lack of data on days on market (DOM) makes it challenging to assess the liquidity of the rental market. Additionally, the average household income of $76,750 provides a moderate level of financial stability among residents, supporting consistent rental payments but not necessarily high turnover rates.
Given these factors, ZIP 45349 leans towards being a steady-cashflow zone. The relatively high median home value and moderate income levels suggest that properties here will likely hold their value and provide reliable rental income. However, the low percentage of renters implies limited opportunities for rapid turnover, which is characteristic of high-yield markets. Landlords and small-portfolio investors should expect modest returns with a focus on long-term stability rather than quick profits.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.