Zip 62704 (Springfield, IL) Housing

The housing market in 62704 Springfield, IL is showing impressive growth. The median value of houses in this zip code is $153,900, which is significantly lower than the US median value of $338,100. However, the 1 year house appreciation rate for this area was 10.41%, which is greater than the national average of 8.27%. This indicates that Springfield's housing market is relatively strong and could be a good investment opportunity for buyers looking for a home in this zip code.

The median home cost in Springfield (zip 62704) is $153,900. Home appreciation the last 10 years has been 37.2%. Home Appreciation in Springfield (zip 62704) is up 13.5%.

Average Age of Homes

- The median age of Springfield (zip 62704) real estate is 53 years old

The Rental Market in Springfield (zip 62704)

- Renters make up 35.3% of the Springfield (zip 62704) population
- 2.4% of houses and apartments in Springfield (zip 62704), 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
	20,751.0	139,647,020.0
	55	42
	$153,900	$338,100
	13.5%	16.6%
	27.7%	57.0%
	37.2%	101.1%
	$22.91	$10.98
	$3,201	$2,690
	54.2%	57.4%
	8.8%	11.2%
	37.0%	31.4%
Vacant Housing
	2.4%	1.9%
	0.3%	0.4%
	1.5%	0.7%
	0.1%	0.4%
	0.6%	3.6%
	3.8%	4.1%
Value of Owner-Occupied Housing
	1.0%	2.6%
	0.8%	2.4%
	2.2%	2.8%
	9.6%	3.9%
	12.0%	4.5%
	30.9%	11.3%
	21.1%	13.0%
	16.4%	20.1%
	2.9%	13.6%
	1.6%	8.3%
	0.7%	9.7%
	0.4%	3.9%
	0.3%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	1.8%	13.6%
	1.8%	13.6%
	8.3%	13.6%
	10.6%	13.2%
	21.9%	14.8%
	8.3%	13.6%
	12.3%	10.0%
	6.1%	4.7%
	21.7%	12.2%

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