The Most Affordable Neighborhoods in Springfield, KY by Home Value

These days, finding an affordable place to live in the Springfield area can be challenging. Home prices in Springfield are now at a median cost of $195,119, lower than the Kentucky average of $219,615.

The average cost of rent is $719/mo in Springfield, primarily driven by the current value of real estate in the Springfield area. In Springfield, 28.64% of households rent, and 46.15% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Springfield is $5,621 per month. Households that rent pay about 12.79% of their income on rent here. Springfield’s most expensive areas are in the northern regions, while the cheapest areas are in the southeastern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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