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Springfield city, MA

ZIP 01108 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 01108

Median Home Value
$219,500
Median Rent
$984
Affordability Snapshot
$60,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,410/mo PITI).

23%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

4.2x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

18.6 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 01108 in Springfield city, MA, a household would need roughly $60,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,410. That is about 16% above the local median household income ($51,851), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
47.3%-28% vs US avg
x
Vacancy Rate
6.9%-33% vs US avg
x
Broadband Access
88.5%+2% vs US avg
x
4+ Bedrooms
8.2%-45% vs US avg
x
Built Pre-1939
6.2%-51% vs US avg
x
Built Post-2014
0.3%-95% vs US avg
x
Rent Burden >30%
40.5%-19% vs US avg
x
Mortgage-Free
24.9%-35% vs US avg
x
$219,500
Home Value
$984
Rent
1938
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached37.5%
  • 1-unit attached3.3%
  • 2-9 units52.1%
  • 10+ units6.7%
  • Mobile home & other0.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$219,500
Median rent$984
Owner-occupied47.3%
Vacant6.9%
Price-to-income4.2x
Est. income to buy$60,000