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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Springfield, VT Real Estate Market

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 Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Springfield, VT Housing Market Trends

With a population of 9,101, 3,992 total housing units (homes and apartments), and a median house value of $256,137, Springfield real estate values are some of the lowest in Vermont, 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 65.24% 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 ( 14.77%), large apartment complexes or high rise apartments ( 11.53%), and a few mobile homes or trailers ( 8.24%).

Dwellings in Springfield tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.80% of the homes in Springfield have two or fewer bedrooms.

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 ( 29.27%). A lesser amount of the housing stock also hails from before 1939 ( 27.37%). There's also some housing in Springfield built between 2000 and later ( 6.88%).

Vacant housing appears to be an issue in Springfield. Fully 10.81% of the housing stock is classified as vacant. Left unchecked, vacant Springfield homes and apartments can be a drag on the real estate market, holding Springfield real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

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 5.75% during the period.

NeighborhoodScout's data show that during the latest twelve months, Springfield's appreciation rate, at 7.41%, has been at or slightly above the national average. In the latest quarter, Springfield's appreciation rate has been 4.63%, which annualizes to a rate of 19.86%.

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 higher than 60% of the other cities and towns in Vermont.

Average Home Values

Median Home Value

$256,137

Springfield, VT Home Prices
> $1,551,000
$1,163,001 - $1,551,000
$775,001 - $1,163,000
$620,001 - $775,000
$465,001 - $620,000
$310,001 - $465,000
$155,001 - $310,000
$78,001 - $155,000
$0 - $78,000
0.8%
0.8%
0.6%
0.6%
2.1%
2.1%
2.0%
2.0%
4.8%
4.8%
18.4%
18.4%
55.0%
55.0%
10.5%
10.5%
6.0%
6.0%
0% 100.0%
% of Homes
Very Low

for Vermont

Average

for nation

Number of Homes And Apartments:

3,992

Springfield Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,589 / per month

Homeownership Rate

Owners
Renters
67.6%
67.6%
32.4%
32.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.8%
10.8%
89.2%
89.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.9%
6.9%
36.5%
36.5%
29.3%
29.3%
27.4%
27.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
65.2%
65.2%
0.2%
0.2%
14.8%
14.8%
11.5%
11.5%
8.2%
8.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.1%
5.1%
15.8%
15.8%
29.8%
29.8%
35.6%
35.6%
9.6%
9.6%
4.0%
4.0%
0% 100.0%
% of Homes