Springfield, VT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Springfield Neighborhoods Since 2000




Springfield, VT 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 9,170, 3,785 total housing units (homes and apartments), and a median house value of $120,377, 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 66.31% of the town's housing units. Other types of housing that are prevalent in Springfield include duplexes, homes converted to apartments or other small apartment buildings ( 17.09%), large apartment complexes or high rise apartments ( 10.50%), and a few mobile homes or trailers ( 4.99%).

The most prevalent building size and type in Springfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.80% owning and 39.20% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Springfield's housing was primarily built during this period, from the '40s through the '60s. A full 32.55% of the town's housing hails from this era. Other housing ages represented in Springfield include homes built between 1970-1999 ( 31.07%) and housing constructed before 1939 ( 30.40%). There's also some housing in Springfield built between 2000 and later ( 5.98%).

Springfield Home Appreciation Rates

Homes have actually lost value in Springfield over the last then years, as home values have seen a decline of 21.79% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Springfield home appreciation rates at 2.55%, which equates to an annual appreciation rate of 10.60%.

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 -0.56%, 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 2.55%, which equates to an annual appreciation rate of 10.60%.

Importantly, this makes Springfield one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Vermont, our data show that Springfield's latest annual appreciation rate is lower than 90% of the other cities and towns in Vermont.

Average Home Values

 

Median Home Value:
$120,377

Springfield, VT HOME PRICES

Value Range
> $914,000 0.4
$685,001 - $914,000 0.5
$457,001 - $685,000 0.6
$366,001 - $457,000 1.3
$274,001 - $366,000 3.5
$183,001 - $274,000 17.6
$91,001 - $183,000 50.1
$46,001 - $91,000 16.5
$0 - $46,000 9.6

Very Low for VT
Low for Nation

Value Relative to Nation Value Relative to State
65.1705144732216 100.0

Number Of Homes And Apartments:
3,785

Springfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VT*
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
28.93% 1.48% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,062 / per month

Homeownership Rate

Homeownership
Owners 60.80
Renters 39.20
Vacant 6.52

Housing Market Details

 

Age of Homes

AGE OF Springfield HOMES
2000 or Newer 6.0
1970 - 1999 31.1
1940 - 1969 32.6
1939 or Older 30.4

Types of Homes

TYPE OF Springfield HOMES
Single-Family 66.3
Townhomes 1.1
Small Apt. Buildings 17.1
Apt. Complexes 10.5
Mobile Homes 5.0
Other 0.0

Home Size

SIZE OF Springfield HOMES
No Bedroom 2.10
1 Bedroom 9.88
2 Bedrooms 27.32
3 Bedrooms 42.26
4 Bedrooms 15.71
5 or more bedrooms 2.74