Springfield, Massachusetts.
Typical home $301,926 (+4.2% in a year), asking rent $1,822 (+7.5%). Springfield, MA metro.
to buy the typical home at today's mortgage rate — +$944 (+147%) since Jan 2020.
- 1 year
- Up $12,174 +4%
- $289,751$301,926 since Sep 2025
- 5 years
- Up $73,012 +32%
- $228,914$301,926 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Springfield$1,585
- Massachusetts$3,439
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 13 years.
Typical home values in Springfield, MA rose 4.2% over the past year — faster than the nation's +1.2%.
Asking rents in Springfield, MA rose 7.5% over the past year — faster than the nation's +2.7%.
Owning the typical home in Springfield runs $461/mo more than renting one. The gap peaked at $586 in Jan 2025.
That is $2,283 a month against $1,822 rent: a $1,585 mortgage payment, plus $375 property tax and $323 insurance & upkeep.
Owning vs renting — Springfield
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$2,283
- Renting$1,822
- Mortgage only$1,585
Property tax · $375/mo 1.49% of value a year — the ACS 2020-2024 median bill over the median home value for Hampden County, MA
Insurance & upkeep · $323/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Springfield, Hampden County, Massachusetts
Springfield is a city of 155,929 people in Hampden County. Half its households earn more than $52,656 a year and half less, against $71,306 across Hampden County; 26% of its people live below the poverty line. 50% of its homes are lived in by their owners and 50% are rented. Unemployment in Springfield was 7.8% in August 2026, and Hampden County had 0.5% fewer jobs in 2025 than the year before. The most residents work in schools and health care, then manufacturing.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Springfield is the largest city in western Massachusetts, and its people are younger on the whole than in many American towns. Incomes run well below the county's, and more people live below the poverty line than is typical, so the city's housing and daily life reflect a place where money is often tight. Owners and renters are about evenly matched among its homes, and the winters are cold and snowy, with a warm summer in July and plenty of rain and melted snow across the year.
Work. Many residents work in schools, hospitals and social care, with manufacturing, retail and professional and business services also employing a good share. Among the largest workplaces in Springfield are Baystate Medical Center, Springfield Schools and Trinity Health of New England. Fewer adults hold a four-year degree than in many places, and most people get to work in a fairly short commute, with only a small number working from home.
Things to do. In or beside town, the Springfield Armory is a protected area and the Springfield Science Museum is close by too, both easy to reach for an afternoon. A short drive away is Six Flags New England, an amusement park known for its roller coasters. The Wadsworth Atheneum Museum of Art is a museum a longer drive away.
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- 57,772households
- 20%of adults have a degree
- 26%below the poverty line
- 20 mintypical commute
- 8%work from home
What residents work in
Employed residents by industry, from the Census survey. Hampden County had 201,216 jobs in 2025, 0.5% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 35° and lows near 16°; warmest in July, with highs near 85° and lows near 61°. About 45 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Westfield Barnes Municipal Airport weather station, 10 miles away (NOAA).
Largest workplaces in Springfield
- Baystate Medical CenterGeneral hospital6,945FTE
- Springfield SchoolsSchool district4,290FTE
- BMP - Baystate Medical PracticesPhysicians' offices2,187
- Springfield NDCMail and parcel delivery1,619
- Trinity Health of New EnglandMedical doctors', mental health, offices1,372
- THE Mercy HospitalGeneral hospital940FTE
- Smith & WessonFirearms, small, manufacturing911
- Western New England UniversityUniversity or college831
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 106 workplaces with 20 or more staff, 25,381 people in all. Hospitals come from their Medicare cost reports (CMS, 2023), school districts from the Common Core of Data (NCES, 2023–24) and colleges from IPEDS (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- HurricanesRelatively moderate
- Ice stormsRelatively moderate
- Strong windRelatively moderate
- Cold wavesRelatively moderate
- Winter weatherRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Springfield’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Hampden County and the Springfield, MA metro.
Springfield home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Springfield$301,926
- Massachusetts$655,219
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 4 Springfield listings, and the typical home goes pending in 17 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Springfield27.33%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Springfield17
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Springfield273
New listings per month
Sellers arriving at the market.
- Springfield113
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Springfield$294,292
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Springfield102.93%
Zip codes with a Springfield address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Springfield — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Springfield
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 01109 | Springfield | 31,124 | $2,091 | $279,488 |
| 01108 | Springfield | 27,405 | $1,940 | $302,676 |
| 01104 | Springfield | 23,209 | — | $289,243 |
| 01118 | Springfield | 14,839 | — | $322,542 |
| 01119 | Springfield | 13,616 | — | $312,654 |
| 01107 | Springfield | 12,009 | — | $314,136 |
| 01105 | Springfield | 11,843 | $1,500 | $262,716 |
| 01151 | Indian Orchard | 9,606 | — | $291,461 |
| 01129 | Springfield | 5,672 | — | $320,937 |
| 01128 | Springfield | 2,896 | — | $337,604 |
| 01103 | Springfield | 2,477 | $1,527 | $132,920 |