Springfield, Oregon Rental Market Trends

Disclaimer:

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

Median Rent Nov 2021 Mar 2022 Jul 2022 Nov 2022 Mar 2023 Jul 2023 Nov 2023 Mar 2024 Jul 2024 Nov 2024
Springfield $1,558 $1,600 $1,665 $1,718 $1,766 $1,861 $1,831 $1,815 $1,801 $1,813
National $1,596 $1,635 $1,708 $1,726 $1,714 $1,739 $1,733 $1,727 $1,752 $1,748
Springfield
National
Nov 2021
$1,558
$1,596
Mar 2022
$1,600
$1,635
Jul 2022
$1,665
$1,708
Nov 2022
$1,718
$1,726
Mar 2023
$1,766
$1,714
Jul 2023
$1,861
$1,739
Nov 2023
$1,831
$1,733
Mar 2024
$1,815
$1,727
Jul 2024
$1,801
$1,752
Nov 2024
$1,813
$1,748

Springfield, Oregon Average Apartment Rent

Springfield, Oregon Apartment rent ranges

Under $500
$501 - $700
$701 - $1000
$1,000 - $1,500
$1,500 - $2,000
Over $2,000

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**

Renter occupied housing units 11,530
Owner occupied housing units 13,509

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**

No bedrooms 481
1 bed 2,568
2 beds 5,334
3 beds 2,693
4 beds 416

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**

15 - 24 years 1,276
25 - 34 years 2,935
35 - 44 years 2,112
45 - 54 years 2,036
55 - 59 years 842
60 - 64 years 823
65 - 74 years 921
75 - 84 years 351
85 years and over 234

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**

Family households 6,510
Non-Family Households 5,020

Springfield, Oregon Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 4,252
No related children of the householder under 18 7,278

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**

Less than high school graduate 1,226
High school graduate (including equivalency) 3,397
Some college or associate's degree 5,434
Bachelor's degree or higher 1,473

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**

Built 2010 - 2019 243
Built 2000 - 2009 1,136
Built 1990 - 1999 1,335
Built 1980 - 1989 1,391
Built 1970 - 1979 3,752
Built 1960 - 1969 1,836
Built 1950 - 1959 836
Built 1940 - 1949 769
Built 1939 or earlier 232

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**

Moved in 2021 or later 688
Moved in 2018 to 2020 3,691
Moved in 2010 to 2017 5,339
Moved in 2000 to 2009 1,518
Moved in 1990 to 1999 206
Moved in 1989 or earlier 88

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**

No vehicle available 1,679
1 vehicle available 4,975
2 vehicles available 3,555
3 vehicles available 826
4 or more vehicles available 495

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**

Car, truck, or van - drove alone 9,411
Car, truck, or van - carpooled 1,685
Public transportation (excluding taxicab) 663
Walked 520
Taxicab, motorcycle, bicycle, or other means 790
Worked at home 930

Springfield, Oregon Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 21,080
Moved within same county 5,042
Moved from different county within same state 674
Moved from different state 806

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

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