The housing market in 62701 Springfield, IL is an attractive option for potential home buyers. The median value of homes in the area is $172,500, which is significantly lower than the national median value of $338,100. Additionally, the one year appreciation rate of houses in 62701 Springfield is 10.41%, higher than the national average of 8.27%. This makes 62701 Springfield an ideal place to invest in housing as buyers can expect their investments to appreciate quickly and at a competitive rate compared to other areas in the country.
The median home cost in Springfield (zip 62701) is $172,500. Home appreciation the last 10 years has been 37.2%. Home Appreciation in Springfield (zip 62701) is up 13.5%.
Average Age of Homes
- The median age of Springfield (zip 62701) real estate is 54 years old
The Rental Market in Springfield (zip 62701)
- Renters make up 91.0% of the Springfield (zip 62701) population
- 6.9% of houses and apartments in Springfield (zip 62701), 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.