Zip 01151 (Springfield, MA) Housing

The housing market in Springfield, MA (01151) is thriving. The median value of homes in this area is $228,900, which is significantly lower than the US house median value of $338,100. However, this lower cost comes with an added reward; the one year house appreciation rate for this area has been 11.32%, which is higher than the national average of 8.27%. This makes Springfield a great place for potential homeowners looking to invest in a property that will continue to appreciate in value over time.

The median home cost in Springfield (zip 01151) is $228,900. Home appreciation the last 10 years has been 82.9%. Home Appreciation in Springfield (zip 01151) is up 15.6%.

Average Age of Homes

- The median age of Springfield (zip 01151) real estate is 70 years old

The Rental Market in Springfield (zip 01151)

- Renters make up 57.4% of the Springfield (zip 01151) population
- 5.0% of houses and apartments in Springfield (zip 01151), 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, Massachusetts	United States
	3,935.0	139,647,020.0
	69	42
	$228,900	$338,100
	15.6%	16.6%
	60.6%	57.0%
	82.9%	101.1%
	$18.37	$10.98
	$2,902	$2,690
	45.0%	57.4%
	6.9%	11.2%
	48.1%	31.4%
Vacant Housing
	5.0%	1.9%
	0.0%	0.4%
	0.0%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	1.9%	4.1%
Value of Owner-Occupied Housing
	1.9%	2.6%
	0.4%	2.4%
	1.6%	2.8%
	2.4%	3.9%
	6.2%	4.5%
	29.0%	11.3%
	33.3%	13.0%
	18.2%	20.1%
	5.5%	13.6%
	0.0%	8.3%
	1.5%	9.7%
	0.0%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	3.1%	13.6%
	3.1%	13.6%
	5.1%	13.6%
	13.2%	13.2%
	8.9%	14.8%
	5.1%	13.6%
	11.6%	10.0%
	8.7%	4.7%
	39.5%	12.2%

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