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 166,808, 71,268 total housing units (homes and apartments), and a median house value of $112,241, 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 62.52% of the city's housing units. Other types of housing that are prevalent in Springfield include large apartment complexes or high rise apartments ( 24.31%), duplexes, homes converted to apartments or other small apartment buildings ( 7.34%), and a few row houses and other attached homes ( 3.54%).
People in Springfield primarily live in small (one, two or no bedroom) single-family detached homes. Springfield has a mixture of owner-occupied and renter-occupied housing.
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 ( 30.61%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.43%). There's also some housing in Springfield built before 1939 ( 12.35%).
Real estate appreciation rates in Springfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.43% during the period.
NeighborhoodScout's data show that during the latest twelve months, Springfield's appreciation rate, at 3.19%, has been at or slightly above the national average. In the latest quarter, Springfield's appreciation rate has been -0.81%, which annualizes to a rate of -3.19%.
Notably, Springfield's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Missouri, our data show that Springfield's latest annual appreciation rate is higher than 50% of the other cities and towns in Missouri.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Springfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Springfield - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Springfield real estate investment or home purchase decisions.
|$815,001 - $1,086,000||0.2|
|$543,001 - $815,000||0.6|
|$434,001 - $543,000||0.8|
|$326,001 - $434,000||2.7|
|$217,001 - $326,000||7.2|
|$109,001 - $217,000||38.2|
|$54,001 - $109,000||38.7|
|$0 - $54,000||11.3|
|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||12.4|
|1970 - 1999||44.6|
|1940 - 1969||30.6|
|1939 or Older||12.3|
|TYPE OF Springfield HOMES|
|Small Apt. Buildings||7.3|
|SIZE OF Springfield HOMES|
|5 or more bedrooms||2.21|