Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 9,442, 3,590 total housing units (homes and apartments), and a median house value of $114,393, house prices in Springfield are solidly below the national average.
Single-family detached homes are the single most common housing type in Springfield, accounting for 53.94% of the city's housing units. Other types of housing that are prevalent in Springfield include mobile homes or trailers ( 20.05%), duplexes, homes converted to apartments or other small apartment buildings ( 12.99%), and a few large apartment complexes or high rise apartments ( 8.80%).
The most prevalent building size and type in Springfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.23% owning and 48.77% renting.
There is a lot of housing in Springfield built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Springfield built between 1940-1969 ( 29.65%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.27%). There's also some housing in Springfield built before 1939 ( 3.99%).
Vacant housing appears to be an issue in Springfield. Fully 18.19% of the housing stock is classified as vacant. Left unchecked, vacant Springfield homes and apartments can be a drag on the real estate market, holding Springfield real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Homes have actually lost value in Springfield over the last then years, as home values have seen a decline of 24.84% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Springfield home appreciation rates at -1.38%, which equates to an annual appreciation rate of -5.42%.
NeighborhoodScout's data show that during the latest twelve months, Springfield's appreciation rate, at 4.44%, has been at or slightly above the national average. In the latest quarter, Springfield's appreciation rate has been -1.38%, which annualizes to a rate of -5.42%.
Notably, Springfield's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Florida, our data show that Springfield's latest annual appreciation rate is lower than 70% of the other cities and towns in Florida.
|$863,001 - $1,152,000||0.0|
|$576,001 - $863,000||0.1|
|$460,001 - $576,000||1.4|
|$345,001 - $460,000||3.2|
|$230,001 - $345,000||9.5|
|$115,001 - $230,000||36.2|
|$58,001 - $115,000||29.1|
|$0 - $58,000||19.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Springfield HOMES|
|2000 or Newer||14.3|
|1970 - 1999||52.1|
|1940 - 1969||29.6|
|1939 or Older||4.0|
|TYPE OF Springfield HOMES|
|Small Apt. Buildings||13.0|
|SIZE OF Springfield HOMES|
|5 or more bedrooms||0.98|