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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 $609,210, higher than the New Jersey average of $496,577.
The average cost of rent is $2,460/mo in Springfield, primarily driven by the current value of real estate in the Springfield area. In Springfield, 33.09% of households rent, and 36.80% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Springfield is $12,994 per month. Households that rent pay about 18.93% of their income on rent here. Springfield’s most expensive areas are in the western regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Millburn, NJ: higher priced homes
- Kenilworth, NJ: less expensive homes
- Vauxhall, NJ: less expensive homes
- Summit, NJ: higher priced homes
- Short Hills, NJ: higher priced homes
- Mountainside, NJ: higher priced homes
- Union, NJ: less expensive homes
- Cranford, NJ: higher priced homes
- Garwood, NJ: less expensive homes
- Maplewood, NJ: higher priced homes
Cities with Similar Populations
- Charles Town, WV: less expensive homes
- Concord, MO: less expensive homes
- Comerio, PR: less expensive homes
- Columbia, PA: less expensive homes
- Colonia, NJ: less expensive homes
- Collingswood, NJ: less expensive homes
- Clinton, TN: less expensive homes
- Clanton, AL: less expensive homes
- Cinco Ranch, TX: less expensive homes
- Chubbuck, ID: less expensive homes
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