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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 $376,879, lower than the Oregon average of $502,078.
The average cost of rent is $1,326/mo in Springfield, primarily driven by the current value of real estate in the Springfield area. In Springfield, 40.13% of households rent, and 36.76% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Springfield is $6,132 per month. Households that rent pay about 21.62% of their income on rent here. Springfield’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Goshen, OR: higher priced homes
- Pleasant Hill, OR: higher priced homes
- Eugene, OR: higher priced homes
- Coburg, OR: higher priced homes
- Trent, OR: higher priced homes
- Creswell, OR: higher priced homes
- Fall Creek, OR: higher priced homes
- Marcola, OR: higher priced homes
- Dexter, OR: equally priced homes
- Winberry, OR: higher priced homes
Cities with Similar Populations
- Marysville, WA: higher priced homes
- Long Beach, CA: higher priced homes
- Manchester, NH: equally priced homes
- Malden, MA: higher priced homes
- Macon, GA: less expensive homes
- Macomb, MI: equally priced homes
- Madison, WI: equally priced homes
- Manassas, VA: higher priced homes
- McAllen, TX: less expensive homes
- Louisville, KY: less expensive homes
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