The housing market in the Springfield, MA Metro Area is thriving. The median value of a home in this area is currently at $301,000, which is significantly lower than the US median value of $338,100. Despite this difference, the appreciation rate for homes in this area has been higher over the past year than the US national average of 8.27%. The 1 year house appreciation rate in Springfield, MA Metro Area is 11.35%, making it an attractive location to buy a home.
The median home cost in Springfield Metro Area is $301,000. Home appreciation the last 10 years has been 66.0%. Home Appreciation in Springfield Metro Area is up 12.5%.
Average Age of Homes
- The median age of Springfield Metro Area real estate is 59 years old
The Rental Market in Springfield Metro Area
- Renters make up 34.8% of the Springfield Metro Area population
- 1.3% of houses and apartments in Springfield Metro Area, 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.