Median price for residential apartments in Springfield, VA as of Jan, 2023.
Take into account that the price depends on the location and condition of the apartment. The size and amenities might have a large influence on the asking price as well.
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502 Springfield, VA, USA apartments for sale
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Springfield
According to statistics, the population in Springfield, VA amounts to 30,556, which shows growth 2% compared to the previous year. The median age of the city’s residents is 40. The average household income is $96,053, shifting growth 4% from the past year, and the average property value in Springfield, VA growth 5% to $439,200 throughout the year.
| Population | 30,556 |
| Median Age | 39.7 |
| Poverty Rate | 6% |
| Household Income | $96,053 |
| Number Of Employees | 15,298 |
| Median Property Value | $439,200 |
Household Income
The average household income in Springfield, VA grew from $92,055 to $96,053 in the past year. This data is an estimate based upon 9,970 households in Springfield, VA . The chart below presents how household income is distributed in Springfield, VA in comparison to the revenue allocation amid households nationally.
Property Value
According to data from last year, the average property value in Springfield, VA shifted from $417,000 to $439,200 throughout the year. The subsequent graph indicates the share of properties in the given price range in Springfield, VA in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Springfield, VA properties falls in the '$400,000 to $499,999' range, which is higher than the most significant median property across the country.
Rent vs. Own
Property Taxes
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Springfield, VA compared to median property taxes around the country. The prevalent amount of property taxes in Springfield, VA equals $3000, which is less than the national average.
Housing Trends
How much does an apartment cost in Springfield, VA, USA
Average apartment sale in Springfield: $668,496 (+3.1%)
| Apartment Size | Jan | vs Last Month |
|---|---|---|
| Studio apartments | $392,452 | +44.7% |
| 1-bed apartments | $205,000 | +0% |
| 2-bed apartments | $222,856 | -2.7% |
| 3-bed apartments | $593,350 | +3% |
| 4+ bed apartments | $815,093 | +0.1% |
During Jan 2023, the average price for an apartment in/near Springfield, VA increased by 3.1% to $668,496.
Knowing the current property prices is key if you plan to buy a studio in Springfield, VA. The average price for a studio has increased since the last month, currently being $392,452. After collecting all data points, we now see that the average price for 1-bed apartment stands at $205,000 with no changes this month. Asking price for 2-bed apartment also decreased by 2.7% and a place of this size will now cost you $222,856. A 3-bed apartment goes for $593,350, it increased by 3% lately. We discerned the rise of 4- and more bed apartment price. It increased by 0.1% and made it up to $815,093.
| Listing Type | Jan | vs Last Month |
|---|---|---|
| Townhouses for sale | $692,827 | -0.1% |
| Lofts for sale | $262,500 | +0% |
| Houses for sale | $735,740 | -2.5% |
| Condos for sale | $303,886 | -16.5% |
| Other for sale | $349,000 | +0% |
| Land for sale | $604,416 | +275.6% |
| Duplexes for sale | $349,000 | +0% |
While assessing the property pricing Springfield, VA, you can note that it remains flat with a price tag of $388,000. Price reports demonstrate that house price decreased by 2.5% this month making it up to $735,740. Condos faced an upward trend these days. The median price for a condo decreased by 16.5%, it’s now available for $303,886. An average value of duplex is $349,000, thus a median price for a duplex remains the same this month. The price statistics of lofts have not significantly changed, it now still goes for $262,500. The property value of townhouses decreased by 0.1%, you’ll have to spend around $692,827 to get one. The average price of the land for sale in Springfield, VA has increased by 275.6%, and now equals $604,416. Other types of properties for sale would cost $349,000 on average. Our data shows that this amount has stayed roughly the same compared to Dec.
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