The housing market in 01118 Springfield, MA is quite robust. The median value of homes in this area is $275,000, which is significantly lower than the US median house value of $338,100. In the last year, the appreciation rate of homes in 01118 Springfield has been 11.32%, compared to 8.27% for the US overall. This indicates that local real estate values are increasing at a faster rate than the US as a whole. Therefore, people seeking to purchase a home or invest in real estate in this area would be wise to do so soon before prices rise even higher.
The median home cost in Springfield (zip 01118) is $275,000. Home appreciation the last 10 years has been 82.9%. Home Appreciation in Springfield (zip 01118) is up 15.6%.
Average Age of Homes
- The median age of Springfield (zip 01118) real estate is 61 years old
The Rental Market in Springfield (zip 01118)
- Renters make up 19.7% of the Springfield (zip 01118) population
- 0.0% of houses and apartments in Springfield (zip 01118), 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.