Springfield, GA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Springfield, GA 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 2,889 people, 900 houses or apartments, and a median cost of homes of $142,357, Springfield real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Springfield, accounting for 72.13% of the city's housing units. Other types of housing that are prevalent in Springfield include duplexes, homes converted to apartments or other small apartment buildings ( 14.30%), large apartment complexes or high rise apartments ( 6.94%), and a few mobile homes or trailers ( 6.10%).

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 53.56% owning and 46.44% 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 2000 and later ( 16.30%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.35%). There's also some housing in Springfield built before 1939 ( 8.31%).

Springfield Home Appreciation Rates

Springfield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Springfield during the period has been just -1.94%, which is lower than 80% of US communities.

Over the last year, Springfield appreciation rates have trailed the rest of the nation. In the last twelve months, Springfield's appreciation rate has been 1.27%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Springfield were at 1.26%, which equates to an annual appreciation rate of 5.15%.

Relative to Georgia, our data show that Springfield's latest annual appreciation rate is lower than 80% of the other cities and towns in Georgia.

Average Home Values

 

Median Home Value:
$142,357

Springfield, GA HOME PRICES

Value Range
> $1,062,000 0.0
$797,001 - $1,062,000 0.4
$531,001 - $797,000 0.0
$425,001 - $531,000 1.1
$318,001 - $425,000 9.6
$213,001 - $318,000 8.7
$106,001 - $213,000 53.5
$53,001 - $106,000 18.9
$0 - $53,000 7.7

High for GA
Average for Nation

Value Relative to Nation Value Relative to State
53.6563928278448 38.2663847780127

Number Of Homes And Apartments:
900

Springfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
GA*
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
24.45% 1.28% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,058 / per month

Homeownership Rate

Homeownership
Owners 53.56
Renters 46.44
Vacant 5.36

Housing Market Details

 

Age of Homes

AGE OF Springfield HOMES
2000 or Newer 16.3
1970 - 1999 62.0
1940 - 1969 13.4
1939 or Older 8.3

Types of Homes

TYPE OF Springfield HOMES
Single-Family 72.1
Townhomes 0.5
Small Apt. Buildings 14.3
Apt. Complexes 6.9
Mobile Homes 6.1
Other 0.0

Home Size

SIZE OF Springfield HOMES
No Bedroom 0.00
1 Bedroom 2.42
2 Bedrooms 30.28
3 Bedrooms 56.78
4 Bedrooms 9.88
5 or more bedrooms 0.63

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Zip Codes in Springfield, GA