Springfield, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Springfield Neighborhoods Since 2000




Springfield, OR Real Estate Data


Springfield Housing Market Information

With a population of 60,870, 24,002 total housing units (homes and apartments), and a median house value of $187,175, Springfield real estate values are some of the lowest in Oregon, although compared to real estate around the nation, Springfield homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Springfield, accounting for 54.34% of the city's housing units. Other types of housing that are prevalent in Springfield include large apartment complexes or high rise apartments ( 17.88%), duplexes, homes converted to apartments or other small apartment buildings ( 12.00%), and a few mobile homes or trailers ( 8.33%).

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 49.95% owning and 50.05% 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 ( 28.65%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.85%). There's also some housing in Springfield built before 1939 ( 4.26%).

Springfield Home Appreciation Rates

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 -0.15% during the period.

Appreciation rates are so strong in Springfield that despite a nationwide downturn in the housing market, Springfield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Springfield appreciation rates continue to be some of the highest in America, at 9.24%, which is higher than appreciation rates in 90.83% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Springfield. Springfield appreciation rates in the latest quarter were at 0.46%, which equates to an annual appreciation rate of 1.85%.

Relative to Oregon, our data show that Springfield's latest annual appreciation rate is lower than 50% of the other cities and towns in Oregon.

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.

Average Home Values

 

Median Home Value:
$187,175

Springfield, OR HOME PRICES

Value Range
> $1,219,000 0.3
$914,001 - $1,219,000 0.3
$610,001 - $914,000 0.7
$487,001 - $610,000 1.7
$366,001 - $487,000 4.1
$244,001 - $366,000 22.3
$122,001 - $244,000 52.2
$61,001 - $122,000 5.5
$0 - $61,000 12.6

Very Low for OR
High for Nation

Value Relative to Nation Value Relative to State
35.3334114613852 82.6086956521739

Number Of Homes And Apartments:
24,002

Rent & Ownership

 

Average Market Rent:
$980 / per month

Homeownership Rate

Homeownership
Owners 49.95
Renters 50.05
Vacant 5.53

Housing Market Details

 

Age of Homes

AGE OF Springfield HOMES
2000 or Newer 12.8
1970 - 1999 54.2
1940 - 1969 28.7
1939 or Older 4.3

Types of Homes

TYPE OF Springfield HOMES
Single-Family 54.3
Townhomes 7.4
Small Apt. Buildings 12.0
Apt. Complexes 17.9
Mobile Homes 8.3
Other 0.1

Home Size

SIZE OF Springfield HOMES
No Bedroom 1.87
1 Bedroom 10.37
2 Bedrooms 34.25
3 Bedrooms 44.52
4 Bedrooms 7.54
5 or more bedrooms 1.45

Springfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
57.98% 2.69% 4 7
* 10 is highest