Springfield, Oregon Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Springfield, Oregon rental market.
Springfield, Oregon
Average Apartment Rent
$1,813
Y-o-Y Change in Average
Apartment Rent
-1%
As of November 2024
Compared to a year ago, Springfield, Oregon apartments have recorded a -1% rent decrease.
Springfield, Oregon Average apartment rent trend
Springfield, Oregon Average Apartment Rent
Springfield, Oregon Apartment rent ranges
At 38.25%, apartments priced $1,000 - $1,500 represent the bulk of Springfield, Oregon rentals, while condos priced $700 - $1000 hold the lowest share of the market – 0.44%.
Springfield, Oregon Housing tenure**
Renters take up 46% of Springfield, Oregon real estate, occupying a total of 11,530 units, while homeowners live in 13,509 properties.
Median number of rooms of renter-occupied housing units**
4.1
Renter median household income**
$43,915
Average household size of renter-occupied housing units**
2.43
Rental vacancy rate**
1.6%
Springfield, Oregon Renter-occupied housing units by no. of bedrooms**
There are 5,334 rentals in Springfield, Oregon with 2 beds making up the highest share of the market, at 46%. Units with 4 beds, on the other hand, hold the lowest percentage (4%), amounting to 416 units. Overall, the median number of rooms in Springfield, Oregon homes for rent is 4.1.
Springfield, Oregon Renter-occupied units by age of householder**
Most condos for rent in Springfield, Oregon are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 45 - 54 years age group (18%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Springfield, Oregon Renter-occupied housing units by family type**
Springfield, Oregon Renter-occupied housing units by the presence of own children**
A total of 6,510 apartments for rent in Springfield, Oregon, or 56% of all rentals are family households. Additionally, 37% of rental homes include children under the age of 18 – that’s 4,252 units. All in all, the median size of a renter-occupied household in Springfield, Oregon is 2.43.
Springfield, Oregon Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 13% of the rental market. In contrast, residents with less than a high school degree reside in 11% of the homes for rent in Springfield, Oregon.
Springfield, Oregon Renter-occupied units by year structure built**
The highest share of Springfield, Oregon apartment rentals, namely 33% or 3,752 units, were Built 1970 - 1979, followed by those Built 1960 - 1969 (16%, 1,836 units), and the ones Built 1980 - 1989 (12%, 1,391 units).
Springfield, Oregon Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Springfield, Oregon renters (46%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Springfield, Oregon condos for rent is 2016.
Springfield, Oregon Renter-occupied housing units by vehicles available**
When it comes to transportation options, 43% of Springfield, Oregon renters have 1 vehicle available per household, 31% of them have 2 vehicles available, and 15% have No vehicle available.
Springfield, Oregon Means of transportation to work of householders living in renter-occupied housing units**
Springfield, Oregon Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Springfield, Oregon apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates