ZIP Code 45506 — Springfield, OH Home Prices (2026)
The typical home in ZIP 45506 (Springfield, Ohio) is worth about $115,000 at roughly $92 per square foot — 38% more affordable than the Springfield median and 61% more affordable than the typical U.S. home.
How 45506 compares
ZIP 45506 is one of the more affordable ZIP codes in Springfield: its typical home value of $115,000 ranks #6 of the 6 Springfield ZIP codes we track (the citywide range runs from $115,000 in 45506 to $316,000 in 45502). Per square foot it costs about $92, against $146 for Springfield as a whole, $159 for Ohio, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 45506 | $115,000 | $92 |
| Springfield, OH | $186,500 | $146 |
| Ohio | $230,000 | $159 |
| United States | $294,000 | $195 |
Home value by size in 45506
Using this ZIP’s rate of about $92 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $92,000 |
| 1,500 sq ft | $138,000 |
| 2,000 sq ft | $184,000 |
| 2,500 sq ft | $230,000 |
| 3,000 sq ft | $276,000 |
Salary needed to buy a home in ZIP 45506
To buy the typical $115,000 home in ZIP 45506 with 20% down, you need a household income of roughly $31,000 a year (about $730 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $37,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $5,800 | $910/mo | $39,000/yr |
| 10% (+PMI) | $11,500 | $870/mo | $37,000/yr |
| 20% | $23,000 | $730/mo | $31,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 45506
At about $92 per square foot, here is roughly how much home different budgets get you in ZIP 45506:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $150k | 1630 sq ft | above the median — larger homes or the pricier ZIPs |
| $200k | 2170 sq ft | above the median — larger homes or the pricier ZIPs |
| $250k | 2720 sq ft | above the median — larger homes or the pricier ZIPs |
| $300k | 3260 sq ft | above the median — larger homes or the pricier ZIPs |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 45506 home.
Estimate a specific home in 45506
The estimator below is pre-set to ZIP 45506 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Springfield ZIP codes by home value
Where 45506 sits among Springfield’s 6 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 45502 | $316,000 | $192 |
| 2 | 45504 | $215,000 | $157 |
| 3 | 45503 | $197,000 | $145 |
| 4 | 45349 | $176,000 | $107 |
| 5 | 45505 | $130,000 | $146 |
| 6 | 45506 (this page) | $115,000 | $92 |
ZIP 45506 home prices: frequently asked
What is the average home price in ZIP code 45506? +
What is the price per square foot in 45506? +
What salary do you need to buy a house in ZIP 45506? +
Is 45506 an expensive ZIP code? +
See the full Springfield home values page, all Ohio cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.