Housing costs in Springfield?
A typical home costs
$273,200, which is 19.2% less expensive than the national average of
$338,100 and 13.0% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Springfield costs
$960 per month, which is 23.8% cheaper than the national average of
$1,260 and 5.2% more than the state average of
$910.
Can I afford Springfield?
To live comfortably in Springfield (zip 62712), Illinois, a minimum annual income of
$52,200 for a family, and
$31,200 for a single person is recommended.
What does A.I. say about Springfield?
The cost of living in 62712 Springfield, IL is fairly reasonable. According to the Economic Research Institute, the overall cost of living index for this region is 81.3, which is 19.7% lower than the national average. The housing market is also quite affordable with a median home value of $117,400, which is 15.6% lower than the national average. The median rent for a one-bedroom apartment runs around $615 per month and groceries are slightly higher at 4.2% above the national average. Eating out tends to be more expensive as well; prices are 7.9% above the US average. All in all, 62712 Springfield has an attractive and manageable cost of living that makes it an appealing place to live or visit.