Springfield - MA housing market
The Springfield metro has a typical home value of $372,394, up 3.3% from a year ago. Homes are moving fast at 14 days on market, a strong seller's market. 25% of listings have had a price cut. Data from Zillow Research, updated monthly.
Springfield housing market, October 2026
The typical Springfield home is worth $372,394 as of September 2026, up 0.2% from the prior month, up 0.7% over three months, and up 3.3% from a year ago. Over the past two years values have ranged from $355,883 to $372,394.
Homes are going pending in about 14 days, slower than the 9 days seen three months earlier. There are roughly 1,593 homes for sale, 18% more than a year ago. 25.3% of listings have taken a price cut (up from 17.0% three months ago).
Typical rent is $1,963 a month, up 3.6% year over year, which puts the price-to-rent ratio at 15.8.
At this week's 7.40% mortgage rate with 20% down ($74,479), the typical Springfield home costs about $2,528 a month including tax and insurance, which needs a household income of roughly $108,400 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($372,394) is the Zillow Home Value Index for the Springfield - MA metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 3.3% over the past year. In Springfield - MA, that means a home worth $360,498 last year is now worth roughly $372,394.
The median sale price, what homes actually close for, is $347,129. Homes are selling at 102.4% of list price, meaning buyers are typically paying at or above asking.
Homes listed in Springfield - MA sit on the market for roughly 14 days before going pending. Shorter = seller's market; longer = buyer's market.
About 25.3% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 642 new listings hit the market each month in Springfield - MA. There are currently 1,593 homes for sale, up 18.3% from a year ago.
The typical monthly rent in Springfield - MA is $1,963, up 3.6% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 15.8x, toss-up (#127 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $2,063 a month in principal and interest, $100 more than renting before taxes, insurance and upkeep. The two break even at a 6.90% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
Protect what you own.
Sponsored links. See our affiliate disclosure.
Other metros in MA
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Boston - MA | $725,639 | +2.1% | 14.0d |
| Worcester - MA | $476,551 | +2.1% | 14.0d |