According to statistics, the population in Springfield, MA amounts to 154,613, which shows decline 0% compared to the previous year. The median age of the city’s residents is 33. The average household income is $37,118, shifting growth 4% from the past year, and the average property value in Springfield, MA growth 2% to $148,600 throughout the year.
|Number Of Employees||62,104|
|Median Property Value||$148,600|
The average household income in Springfield, MA grew from $35,742 to $37,118 in the past year. This data is an estimate based upon 56,331 households in Springfield, MA . The chart below presents how household income is distributed in Springfield, MA in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Springfield, MA shifted from $146,400 to $148,600 throughout the year. The subsequent graph indicates the share of properties in the given price range in Springfield, MA in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Springfield, MA properties falls in the '$150,000 to $174,999' range, which is lower than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Springfield, MA compared to median property taxes around the country. The prevalent amount of property taxes in Springfield, MA equals $2500, which is less than the national average.
|Apartment Size||Oct||vs Last Month|
|1 bed for sale||$124,933||N/A|
|2 bed for sale||$194,792||+6.5%|
|3 bed for sale||$224,948||+11.1%|
|4+ bed for sale||$267,829||+51.7%|
During Oct 2021, the average price for an apartment in/near Springfield, MA increased by 33.1% to $246,869.
After collecting all data points, we now see that the average price for 1-bed apartment stands at $124,933 with no changes this month. Asking price for 2-bed apartment remains the same, a place of this size will still cost you $194,792. Reports state that an average 3-bed apartment price did not change, so you can still get yourself one for $224,948. According to statistics, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $267,829 for a big-family home.
|Listing Type||Oct||vs Last Month|
|Apartments for sale||$281,175||+230.8%|
|Townhouses for sale||$261,175||+18.8%|
|Houses for sale||$248,059||+26.3%|
|Condos for sale||$144,600||N/A|
|Duplexes for sale||$289,900||N/A|
While assessing the property pricing Springfield, MA, you can note that it remains flat with a price tag of $281,175. According to statistics, average house is still $248,059 with no significant changes this month. Condo prices remain stable. Condo for sale is now available for the same pricing as previously — $144,600. An average value of duplex is $289,900, thus a median price for a duplex remains the same this month. Value of the townhouses didn’t change, the price still starts at $261,175.
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