Home Values

Springfield Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$125,900

  • 0.8% 1-year change
  • 1.5% 1-year forecast

The median home value in Springfield is $125,900. Springfield home values have gone up 0.8% over the past year and Zillow predicts they will rise 1.5% within the next year. The median rent price in Springfield is $1,000, which is lower than the Springfield Metro median of $1,085.

Foreclosures will be a factor impacting home values in the next several years. In Springfield 9.0 homes are foreclosed (per 10,000). This is greater than the Springfield Metro value of 4.2 and also greater than the national value of 3.8

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Springfield is 13.7%, which is higher than the national value of 6.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Springfield homeowners underwater on their mortgage is 24.8%, which is higher than Springfield Metro at 12.6%.

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Relative ZHVI
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Springfield Market Overview

Data through Jun 30, 2015
  • $125,900 ZHVI
  • 1.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Jun 30, 2016)
  • No data Median listing price
  • $128,000 Median sale price
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Springfield Market Health

Data through Jun 30, 2015
  • 0.7/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 24.8% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 13.7% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)

Homes foreclosed (per 10,000)

9 Springfield
4 Springfield Metro
4 United States
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Neighborhoods in Springfield

Name Median ZHVI
Sixteen Acres $142,200
East Forest Park $140,800
Forest Park $124,800
Name Median ZHVI
Boston Road $113,400
East Springfield $113,000
McKnight $105,600
Name Median ZHVI
Pine Point $102,100
Upper Hill $99,300
Old Hill $83,400

Listings & Sales

Data through Jun 30, 2015
  • No recent data Median list price / sq ft
  • $109 Median sale price / sq ft
  • No data Listings with price cut
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Springfield Rentals

Data through Jun 30, 2015
  • Zillow Rent Index

  • $1,392 Springfield
    $1,552 Springfield Metro
    $1,369 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.2 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Mar 31, 2015)
  • $1,000 Rent list price
  • $0.94 Rent list price / sq ft
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