Springfield, KY

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Springfield short-term rental market based on reliable data.

Listings

45 / 74

Reliable / Active

Cap Rate

9%

Middle-Earners Gross Yield

Revenue

$24,218

Middle-Earners Revenue

Occupancy

45%

Middle-Earners Occupancy

Home Value

$260,466

Median Home Sale Price

Top Earners

$52,736

Top-Earners Revenue

Springfield

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Springfield.

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C

Challenging to Investors

Springfield Regulations

STRs are not allowed by right citywide; lodging uses must fit a permitted zoning category or obtain a CUP/variance, which adds hearings, potential neighbor conditions, and extra permits (business, health, building, taxes). This zoning‑dependent pathway creates uncertainty and compliance burden, especially in residential districts where STRs are often prohibited by right.

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About Springfield

Springfield is a small city in central Kentucky that serves as the seat of Washington County. With a population of roughly 2,500 to 3,000 residents, it carries the relaxed pace of a rural Kentucky county seat while remaining within easy striking distance of some of the state's most-visited destinations. The town is best known for its quiet, well-preserved historic core and its position as a convenient base for exploring the rolling bluegrass landscape, the nearby Bourbon Trail, and the broader central Kentucky corridor. Louisville, the nearest major city, lies approximately 50 miles to the northwest, putting Springfield within about an hour's drive of the metro's urban amenities, airport, and cultural attractions.

Just southwest of Springfield, the Abraham Lincoln Birthplace National Historical Park preserves the small farm cabin where the sixteenth president entered the world in 1809. Located near Hodgenville in neighboring LaRue County, the park is roughly a 40-minute drive from Springfield and draws visitors interested in tracing Lincoln's early Kentucky roots. The site features a traditional birth cabin enclosed within a stately memorial building, walking paths through the historic Sinking Spring area, and a visitor center with interpretive exhibits, making it an easy day trip for guests staying in town.

About 35 miles to the southeast lies Bardstown, often billed as the Bourbon Capital of the World and home to My Old Kentucky Home State Park, the Federal Hill mansion that inspired Stephen Foster's famous anthem. The park offers mansion tours, picnic grounds, and an outdoor amphitheater where the musical "My Old Kentucky Home" is performed seasonally, typically about 45 minutes from Springfield by car. Bardstown's historic downtown, lined with craft distilleries, taverns, and tasting rooms, makes the drive well worth it for travelers who appreciate Kentucky's signature spirit.

Closer to Springfield itself, the surrounding Washington County countryside rewards visitors with pastoral drives along quiet country roads, modest horse farms, and small-producer stops that reflect the agricultural character of the region. The town's compact downtown features a courthouse square, locally owned shops, and casual eateries, giving short-term rental guests a glimpse of small-town Kentucky life. Together, the area's mix of presidential history, bourbon heritage, and rolling farmland makes Springfield a calm, well-located home base for travelers exploring the heart of the Bluegrass State.

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