There are currently 7,286 real estate properties in Springfield, IL, with a median automated valuation model (AVM) price of $145,500.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Springfield, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Springfield, IL, is $184,072.00, with the most expensive house in Springfield, IL, topping out at $58,526,100.00 and the cheapest home in Springfield, IL, clocking in at $13,200.00. In other words, there’s something for every potential homebuyer or savvy investor in Springfield, IL!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Springfield, IL, is on a rollercoaster ride. The average rent price in Springfield, IL, is $1,215.00. Indeed, when looking to rent in Springfield, IL, you can expect to pay as little as $510.00 or as much as $2,380.00, with the average rent median estimated to be $1,160.00. The good news is that finding an affordable and desirable property to rent in Springfield, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Springfield, IL area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Springfield, IL and much more. Save thousands at closing with home foreclosure listings in Springfield, IL — up to 75% off market value!
Springfield is located in Sangamon, Illinois, with an estimated municipal population of 114,230 residents. All of the best foreclosed homes for sale in Springfield are located in the following zip code areas on Foreclosure.com: 62711 62712 62702 62703 62701 62707 62704 62705 62706 62715 62716 62719 62722 62726 62736 62739 62756 62757 62761 62762 62763 62764 62765 62766 62767 62769 62776 62777 62781 62786 62796. The estimated population per square kilometer (.62 miles) in Springfield is 723.
So, about how much do homes cost in Springfield? The most recent median value of resident-owned homes in Springfield is 132,412. An estimated 61.4 percent of households in Springfield own their homes, with an average family size of 2.92. The median household income in Springfield is 54,648, with23.7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Springfield, the median commute time of resident workers (in minutes) is 17.7. And last, but certainly not least, are you looking for homes to rent in Springfield? If so, the average rent price paid by renters in Springfield is 805, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Springfield, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Springfield is 39.4, split between 47.4 percent male versus 52.6 female. The percentage of residents who report being married in Springfield is 40.8, with an average family size of 2.92.
The percentage of residents who report their race in Springfield is as follows:
|Black / African American||19.9%|
|American Indian / Alaskan Native||0.1%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Springfield? Or maybe you are searching for 55+ active adult communities in and/or near Springfield?
The percentage of residents who report their age in Springfield is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Springfield with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Springfield.
How do you know that living in -- or moving to -- Springfield is right where you need to be? Perhaps you grew up in Springfield or already live nearby; therefore, the decision to buy a home in Springfield is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Springfield for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Springfield:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Springfield.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Springfield can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Springfield, meanwhile, can field multiple offers from more qualified buyers.