CNN Names Springfield Ohio 2nd Most Affordable Small City
Springfield Ohio, doesn't every state have a city with that name? Our Springfield however, is proud to be named by CNN as the 2nd most affordable small city in the U.S. I can tell you though, having lived in the area for a long time and also as a local Realtor, there's much more to Springfield than just being affordable. (Photo courtesy of Rob Hatfield)
But on the topic of affordability, it has a population of just about 140,000, and the median home price is hovering currently at a cool $76,000. The median income of the area is $53,500 and the percentage of homes in the area that sold and deemed "affordable" is 93%.
Known for producing farm equipment, school buses and various recreational equipment, manufacturing is a strong part of Springfield's economic foundation and leading the way is the largest employer of the area is Navistar International, formerly International Harvester, though the local economy as of late is undergoing a transition to include more warehousing and center for technological endeavors according to Shannon Meadows, the Community Development Director.
Springfield has a perfect location as well, being well within reasonable reach of Wright Patterson Air Force Base, and also the large emerging global hub of technology; Dayton. "We are located on the I-70 between Columbus and Dayton and near three international airports," she states. "It's great for distribution." "We have some wonderful neighborhoods and you can buy a three bedroom, 1,200 square foot house within walking distance of downtown for $75,000," said Meadows.
The metro area population has contracted by about 13% over the past four decades leaving behind many empty houses. A recent housing study determined that the city of Springfield alone had a surplus of 500 houses. With light demand, home prices have stayed so low that even with those of modest means can afford to be homeowners.
If you're in need a local Realtor that knows the area, and adept at saving clients big while helping them avoid potential nasty pitfalls, give me a shout. I'd love just to show you around town before we look at houses, it's truly a beautiful, historic and remarkable area full of culture.