Springfield, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Springfield Neighborhoods Since 2000




Springfield, FL Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Springfield Housing Market Information

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.

Springfield Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$114,393

Springfield, FL HOME PRICES

Value Range
> $1,152,000 0.5
$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

Very Low for FL
Low for Nation

Value Relative to Nation Value Relative to State
68.680417203797 81.1965811965812

Number Of Homes And Apartments:
3,590

Springfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
44.06% 2.14% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,075 / per month

Homeownership Rate

Homeownership
Owners 51.23
Renters 48.77
Vacant 18.19

Housing Market Details

 

Age of Homes

AGE OF Springfield HOMES
2000 or Newer 14.3
1970 - 1999 52.1
1940 - 1969 29.6
1939 or Older 4.0

Types of Homes

TYPE OF Springfield HOMES
Single-Family 53.9
Townhomes 3.6
Small Apt. Buildings 13.0
Apt. Complexes 8.8
Mobile Homes 20.1
Other 0.6

Home Size

SIZE OF Springfield HOMES
No Bedroom 1.53
1 Bedroom 12.40
2 Bedrooms 34.89
3 Bedrooms 43.07
4 Bedrooms 7.13
5 or more bedrooms 0.98

Popular Neighborhoods in Springfield

Zip Codes in Springfield, FL