Springfield
Massachusetts · Ranked #43 of 102 metros
52Moderate
Median Home Price
🏠$290K
Need $83K income
Median Rent
🔑$1K
Need $50K income
Housing Shortage
📉12,000
units needed
Building Permits
🔨2,500
annual
Median Income
💰$56K
Pop: 700,572
Rent Burden
⚠️35.5%
of renters paying >30%
Price Change (YoY)
📈+6.5%
Homeownership
🏡62.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Springfield | National |
|---|---|---|
| Price-to-Income Ratio | 5.2x | 6.1x |
| Rent Burden | 35.5% | 31.5% |
| Homeownership Rate | 62.0% | 65.5% |
| YoY Price Change | +6.5% | +3.5% |
| YoY Rent Change | +5% | +2.8% |
| Mortgage Denial Rate | 15.0% | 13.5% |
| Eviction Rate | 4.0% | 3.6% |