Springfield housing market
Typical home value
$372K
▲ 3.3% 1 yr
Typical rent
$1,963/mo
▲ 3.7% 1 yr
12-month forecast
+2.4%
#211 of 546 metros
Gross rent yield
6.3%
#212 of 546 · U.S. 6.3%
Days to pending
28 days
▼ −1 day 1 yr
Listings with a price cut
25%
▲ +3.0 pts 1 yr
Key takeaways
- 1The typical home is worth $372,394, up 3.3% in a year and up 29% over five years.
- 2Zillow forecasts home values rising 2.4% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,963/mo (+3.7% YoY), a 6.3% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $2,046/mo in principal and interest, $83 more than renting.
- 5Homes go under contract in 28 days (−1 day vs last year); 25% of listings have had a price cut.
Market temperature
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 53/100, #98 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Springfield compares
| Measure | Springfield | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +3.3% | +1.2% | #170 |
| Home value, 5-yr change | +28.9% | +19.7% | |
| 12-month forecast | +2.4% | +1.1% | #211 |
| Rent, 1-yr change | +3.7% | +2.7% | #230 |
| Gross rent yield | 6.3% | 6.3% | #212 |
| Price-to-rent ratio | 15.8 | 15.8 | |
| Mortgage P&I on typical home | $2,046 | $2,012 | |
| Income needed to buy | $107,239 | $100,902 | |
| Days to pending | 28 | 56 |
Cities in the Springfield metro
2 cities with home value and rent data.
| Springfield | $302K | ▲ 4.2% | $1,822 | ▲ 7.4% | 7.2% |
| Amherst | $538K | ▲ 2.9% | $2,999 | ▲ 4.6% | 6.7% |
Run the numbers
Rental property calculator
Cash flow on a typical Springfield rental ($372K, $1,963/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Springfield home.
Rent vs buy
Is it cheaper to rent or buy in Springfield?
Other Massachusetts metros
Boston, MA
$726K home$2,987 rent4.9% yield
▲ 2.1% 1 yr
Worcester, MA
$477K home$2,105 rent5.3% yield
▲ 2.1% 1 yr
Barnstable Town, MA
$757K home$2,578 rent4.1% yield
▲ 2.9% 1 yr
Pittsfield, MA
$390K home$1,757 rent5.4% yield
▲ 1.6% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.