How many apartments are available in 45506 on Rentable.co?
Rentable.co has 1 apartment available for rent in 45506.
What is the average rent for an apartment in 45506?
The average rent for an apartment in 45506 is around $650 per month.
Find an Apartment in 45506
Looking for apartments for rent in the 45506 zip code of Springfield, OH? Rentable has 2 units available right now.
Our apartments in 45506 are designed to meet your needs and preferences. Whether you're looking for a cozy studio or a spacious three-bedroom, we have the perfect rental option for you. Take a closer look at Rentable's apartments near 45506 and find your dream home today.
Springfield: May Rent Report
Welcome to the May 2024 Springfield Apartment Report. In this assessment of
the local rental market, Rentable data scientists and rental experts break down the
May 2024 key findings and figures for the Springfield rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in
Springfield and surrounding areas and provide comparisons to the entire metro area, nearby cities and
some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of
Springfield average rent prices in the chart below.
Monthly Rent Report
$1,200
$900
$600
$300
$0
Jun. 2023
Jul. 2023
Aug. 2023
Sep. 2023
Oct. 2023
Nov. 2023
Dec. 2023
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
1 BR2 BR
Springfield Rent Prices Decrease From April to May
Springfield rent prices decreased over the last month. From April to May, the city experienced a -3.65% decrease for the price of a one-bedroom apartment. The rent price for a Springfield one-bedroom apartments currently stands at $713.0.
When we take a look at the two-bedroom comparison from April to May, Springfield experienced a 0.49% increase for the price of a two-bedroom apartment. The rent price for a Springfield two-bedroom apartments currently stands at $1,023.0.
May Prices: Springfield vs. Surrounding Areas
Springfield, OH
$770
$0
$300
$600
$900
$1,200
Median 1 BR Rent
Rent Prices in Springfield and Surrounding Areas
Rent prices have decreased in Springfield over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Springfield suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rents did not increase in any of the Springfield suburbs
Rents did not decrease in any of the Springfield suburbs.
May 2024 Pricing Trends: Springfield vs. National Comparisons
New York, NY
San Francisco, CA
Washington, DC
Los Angeles, CA
Chicago, IL
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
Springfield, OH
$4,056
$3,039
$2,377
$2,336
$1,913
$1,300
$1,283
$1,178
$770
$0
$1,350
$2,700
$4,050
$5,400
Median Rent
Springfield Rent Prices More Affordable Than Major Cities
Rent growth in Springfield over the past year has been
declining. When compared to major cities nearby, along
with some of the most expensive cities in the country, Springfield average rent prices appear to be
relatively affordable for local residents.
The price for a Springfield one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
For more information about Springfield and surrounding area rent prices, take a look at the complete data set below.
Data set for Springfield and suburbs
1 BR May
1 BR M/M % Change
2 BR May
2 BR M/M % Change
Springfield, OH
$770.0
-0.65%
$965.0
-1.73%
Methodology
Each month, using over 1 million Rentable listings across the United States, we calculate the median
1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To
avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and
property count thresholds.