The housing market in Springfield, IL is thriving. The median value of homes in the area is much lower than the national median at $133,300 compared to $338,100. Over the past year, Springfield's house appreciation rate has been even higher than the US average, at 10.39%, compared to 8.27%. This indicates that there may be more demand for housing in Springfield than the national average, making it a great place to purchase or invest in real estate.
The median home cost in Springfield is $133,300. Home appreciation the last 10 years has been 37.2%. Home Appreciation in Springfield is up 13.5%.
Average Age of Homes
- The median age of Springfield real estate is 48 years old
The Rental Market in Springfield
- Renters make up 33.4% of the Springfield population
- 2.6% of houses and apartments in Springfield, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.