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 about Scout's Real Estate Data
With a population of 8,151, 3,490 total housing units (homes and apartments), and a median house value of $199,082, 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 54.41% of the city's housing units. Other types of housing that are prevalent in Springfield include mobile homes or trailers ( 22.63%), duplexes, homes converted to apartments or other small apartment buildings ( 11.78%), and a few large apartment complexes or high rise apartments ( 6.75%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Springfield. Owner-occupied housing accounts for 66.84% of Springfield's homes, and 68.99% have either three or four bedrooms, which is average sized relative to America.
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 ( 27.04%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.96%). There's also some housing in Springfield built before 1939 ( 3.06%).
Appreciation rates for homes in Springfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.29%, which ranks in the top 50% nationwide. This equates to an annual average Springfield house appreciation rate of 6.59%.
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 -10.78%, 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 3.86%, which equates to an annual appreciation rate of 16.38%.
Importantly, this makes Springfield one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Florida, our data show that Springfield's latest annual appreciation rate is lower than 90% of the other cities and towns in Florida.
$199,082
for Florida
for nation
3,490
$1,819 / per month