In Springfield, Ohio (45505), the average monthly rent for a two bedroom is $840 per month, which is significantly lower than the national average of $1,430. The Grocery Cost Index in Springfield is 93, meaning that groceries cost 7% less than in other areas of the country. Therefore, living in Springfield can be a great way to make budgeting easier for families. There are several local grocery store and restaurant chains such as Kroger, Bigg’s, Local Cantina and Carvers Steaks & Chops that offer convenient shopping locations and delicious meals at affordable prices. Shopping locally keeps money in the community and helps supports businesses run by Springfield residents. In addition to groceries, there are plenty of other products available from local stores like Aldi's, Walmart Supercenter and Meijer. Together with its low rental rates and affordability when it comes to food costs, Springfield is an ideal city to live in on a budget.
Springfield (zip 45505) has an unemployment rate of 5.9%. The US average is 6.0%.
Springfield (zip 45505) has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 22.3%, which is lower than the US average of 33.5%.
Tax Rates for Springfield (zip 45505)
- The Sales Tax Rate for Springfield (zip 45505) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Springfield (zip 45505) is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Springfield (zip 45505)
- The average income of a Springfield (zip 45505) resident is $16,184 a year. The US average is $28,555 a year.
- The Median household income of a Springfield (zip 45505) resident is $39,601 a year. The US average is $69,021 a year.