The housing market in Springfield, MN is flourishing with a median value of $145,300. This is significantly lower than the national median value of $338,100, making Springfield an attractive option for those looking to buy a home. The 1 year house appreciation rate for the US was 8.27% whereas Springfield experienced a much higher appreciation rate of 11.33%, suggesting strong economic growth within the area. This makes Springfield an ideal location for those who want to invest in real estate and benefit from rising property values.
The median home cost in Springfield is $145,300. Home appreciation the last 10 years has been 70.2%. Home Appreciation in Springfield is up 11.6%.
Average Age of Homes
- The median age of Springfield real estate is 64 years old
The Rental Market in Springfield
- Renters make up 21.2% of the Springfield population
- 1.2% 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.