Zip 62702 (Springfield, IL) Housing

The housing in 62702 Springfield, IL is a great value for the area. The median value of a home in 62702 stands at $89,500, which is significantly lower than the national median of $338,100. This means buyers who are looking to purchase a home in the area can get more bang for their buck. In addition to a great value, house appreciation over the last year has been 10.41%, higher than the national appreciation rate of 8.27%. This makes purchasing a home in 62702 Springfield an attractive long-term investment opportunity that won't break the bank.

The median home cost in Springfield (zip 62702) is $89,500. Home appreciation the last 10 years has been 37.2%. Home Appreciation in Springfield (zip 62702) is up 13.5%.

Average Age of Homes

- The median age of Springfield (zip 62702) real estate is 56 years old

The Rental Market in Springfield (zip 62702)

- Renters make up 32.2% of the Springfield (zip 62702) population
- 1.4% of houses and apartments in Springfield (zip 62702), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Springfield, Illinois	United States
	17,358.0	139,647,020.0
	60	42
	$89,500	$338,100
	13.5%	16.6%
	27.7%	57.0%
	37.2%	101.1%
	$20.02	$10.98
	$1,730	$2,690
	53.3%	57.4%
	12.6%	11.2%
	34.1%	31.4%
Vacant Housing
	1.4%	1.9%
	0.8%	0.4%
	1.2%	0.7%
	0.8%	0.4%
	0.3%	3.6%
	8.0%	4.1%
Value of Owner-Occupied Housing
	6.0%	2.6%
	6.4%	2.4%
	11.4%	2.8%
	20.1%	3.9%
	19.1%	4.5%
	22.0%	11.3%
	10.3%	13.0%
	2.9%	20.1%
	1.0%	13.6%
	0.3%	8.3%
	0.3%	9.7%
	0.0%	3.9%
	0.2%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	3.2%	13.6%
	3.2%	13.6%
	7.9%	13.6%
	6.1%	13.2%
	16.1%	14.8%
	7.9%	13.6%
	16.9%	10.0%
	9.2%	4.7%
	22.7%	12.2%

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