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 2,942 people, 1,127 houses or apartments, and a median cost of homes of $278,325, Springfield real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Springfield, accounting for 79.01% of the city's housing units. Other types of housing that are prevalent in Springfield include duplexes, homes converted to apartments or other small apartment buildings ( 11.20%), mobile homes or trailers ( 4.43%), and a few large apartment complexes or high rise apartments ( 3.18%).
The most prevalent building size and type in Springfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.59% owning and 39.41% renting.
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 ( 30.69%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.74%). There's also some housing in Springfield built before 1939 ( 3.26%).
In the last 10 years, Springfield has experienced some of the highest home appreciation rates of any community in the nation. Springfield real estate appreciated 115.67% over the last ten years, which is an average annual home appreciation rate of 7.99%, putting Springfield in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Springfield definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Springfield that despite a nationwide downturn in the housing market, Springfield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Springfield appreciation rates continue to be some of the highest in America, at 12.95%, which is higher than appreciation rates in 95.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Springfield. Springfield appreciation rates in the latest quarter were at -1.20%, which equates to an annual appreciation rate of -4.70%.
Notably, Springfield's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Georgia, our data show that Springfield's latest annual appreciation rate is higher than 90% of the other cities and towns in Georgia.
$278,325
for Georgia
for nation
1,127
$2,259 / per month