The housing market in Springfield, MA is thriving. The median value of a house in this city is $240,800, which is significantly lower than the US House Median Value of $338,100. Despite this difference in median values, the 1 year House Appreciation rate for Springfield, MA is higher than the national average at 11.32%, compared to 8.27% nationally. This indicates that Springfield house prices are on the rise and that it's a great time to invest in real estate in this city.
The median home cost in Springfield is $240,800. Home appreciation the last 10 years has been 82.9%. Home Appreciation in Springfield is up 15.6%.
Average Age of Homes
- The median age of Springfield real estate is 68 years old
The Rental Market in Springfield
- Renters make up 47.4% of the Springfield population
- 2.1% 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.