The housing market in Springfield, VA is quite expensive compared to the national average. The median value in Springfield is $604,700 while the median value for the US is only $338,100. Although the house values have appreciated over the last year with 8.27% nationally and 4.61% in Springfield, homebuyers will need to be prepared for higher than average costs when purchasing a property in this area.
The median home cost in Springfield is $604,700. Home appreciation the last 10 years has been 63.1%. Home Appreciation in Springfield is up 11.4%.
Average Age of Homes
- The median age of Springfield real estate is 40 years old
The Rental Market in Springfield
- Renters make up 34.3% of the Springfield population
- 0.6% 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.