Housing Report for Springfield

The residential real estate values in Springfield, Ohio have seen small increases from the housing values in 2000. The residential values have increased by $8,600, or 8.7 percent, from 2000 when they had reported median values of $99,000.

In the State of Ohio, Springfield is positioned 12 of the 12 metro areas in terms of growth of new housing structures between 2001 and 2005. The MSA stands 353 of 361, when comparing the change in housing structures in other metropolitan areas throughout the nation.

Springfield had a median home value in the year 2005 of $107,600, accounted by the American Community Survey. This median is less than the overall State of Ohio 2005 home value of $129,600 and less than median home value of $167,500 for the rest of the nation in that year.

Springfield is made up of a small, but present percentage of high-priced residential real estate. For the year 2005, the American Community Survey accounted that 0.4 percent of owner-occupied dwellings were valued over a half a million dollars.

It can be understood that there is a large amount of real estate that is affordable in Springfield, Ohio. In 2005, 63.2 percent of housing was valued under $125k.

In Springfield, the real estate market was made up of 61,925 housing structures in 2005. The metro area has seen a small amount of growth in the number housing units, adding all together 571 homes since 2001, or 0.9 percent.

Data Source: U.S. Census Bureau

Employment Report for Springfield, Ohio -- Annual 2005 Industry Summary

Management of companies and enterprises is the industry with the largest change in employment since the year 2001 in Springfield, moving a total of 877.9 percent. This is greater than the change of total jobs in the industry for the United States of 1.6 percent. The State of Ohio encountered a change in industry employment of 22.5 percent, since the year 2001.

Management of companies and enterprises is the industry with the largest establishments in Springfield MSA. In the region, the industry averages 76 employees per business. This is greater than the US industry average of 40 and greater than the Ohio typical size of 71 for the Management of companies and enterprises industry.

A high-wage industry in Springfield is the manufacturing industry with wages that annually pay $43,940. Throughout the MSA since the year 2001, the annual average pay of the industry has declined by 4.7 percent or $2,167. The State of Ohio holds a different job market in the manufacturing sector, standing in the middle of sectors by 2004 industry pay.

In Springfield, Health care and social assistance, Manufacturing and Transportation and Warehousing are the three industries with the highest location quotients. The Health care and social assistance industry has an LQ of 1.48. In other words, the percent of total jobs in the Health care and social assistance sector is 1.48 times the percent of the national average, This signifies that Springfield produces more than its local requirement of products and/or services of Health care and social assistance.

The Manufacturing sector has decreased the most in local industry presence in the Springfield Metro Area, from the year 2001 to 2005, accounting for 24.4 percent of total employment for the year 2001 to 18.7 percent of total employment in the year 2005.

The Springfield is the Metropolitain Area that is ranked 281 of 363 throughout the US in terms the size of total employment in 2005. This ranking has slipped behind from the year 2001, at which time the Metropolitan Area was ranked 250 of 363 Counties.

Manufacturing between the years 2001 and 2005, saw the greatest loss in employment in the Springfield Metropolitan Area. The industry was hit with a loss of 3,644 jobs during the period, or 30.9 percent of industry's employment. The industry declines made up 45.2 percent of all Metro Area employment losses since 2001.

In Springfield, Health care and social assistance, Manufacturing, and the Retail Trade sectors are the largest industries, in terms of total number of jobs in 2005. The Health care and social assistance is the major employer in the Metropolitan Area making up 19.1 percent of the total MSA employment. This totals 8,313 people employed. The Manufacturing and Retail Trade sectors provide 18.7 and 14.6 percent of all employment.

Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).