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Affordable
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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 $272,524, lower than the Tennessee average of $315,131.
The average cost of rent is $1,363/mo in Springfield, primarily driven by the current value of real estate in the Springfield area. In Springfield, 36.41% of households rent, and 34.64% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Springfield is $5,742 per month. Households that rent pay about 23.74% 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
- Mount Denson, TN: equally priced homes
- Flewellyn, TN: higher priced homes
- Youngville, TN: higher priced homes
- Greenbrier, TN: higher priced homes
- Barren Plain, TN: higher priced homes
- Cedar Hill, TN: higher priced homes
- Milldale, TN: higher priced homes
- Coopertown, TN: higher priced homes
- Ridgetop, TN: higher priced homes
- Turnersville, TN: equally priced homes
Cities with Similar Populations
- Dyersburg, TN: less expensive homes
- Trussville, AL: higher priced homes
- Trotwood, OH: less expensive homes
- Tipp City, OH: higher priced homes
- Taylorsville, NC: less expensive homes
- Tavares, FL: equally priced homes
- Stoneham, MA: higher priced homes
- Stanwood, WA: higher priced homes
- South Plainfield, NJ: higher priced homes
- Short Pump, VA: higher priced homes
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