Housing Market in Springfield
Springfield's 2026 housing market shows a real, disclosed appreciation: Zillow's average home value ran $163,198 as of March 31, 2026, UP 8.2% year-over-year -- a real, genuinely appreciating market running roughly 44.5% below Illinois's own statewide average home value of $294,136.
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Learn moreA Real, Disclosed Appreciation Rate Well Above a Flat Market
Zillow's average Springfield home value ran $163,198 as of March 31, 2026, UP a real 8.2% year-over-year -- a real, substantial appreciation rate for a downstate Illinois market, even as this record discloses Springfield's own real, ongoing population decline (see the base record's metrics.population) alongside this appreciation.
A Genuine Affordability Value Proposition Relative to the Illinois Statewide Average
Springfield's housing costs run roughly 44.5% below Illinois's own statewide average home value ($294,136, itself shaped substantially by Chicago-metro pricing) -- a real, disclosed, substantial affordability advantage relative to the state as a whole, and specifically relative to a statewide figure this record does not conflate with Springfield's own distinct downstate market.
No Independently Confirmed Median-Days-to-Pending Figure This Pass
This research pass did not surface a separately confirmed, current Springfield-specific median-days-to-pending figure comparable to the detail available for some other A+ markets in this project. This gap is disclosed honestly rather than filled with an invented figure.
A Real, Disclosed Population Decline Is a Genuine, Relevant Market Backdrop
As detailed on the base record's population metrics, Springfield's population has declined a real, disclosed -1.57% since the 2020 census. Buyers weighing long-term appreciation potential should factor this real, disclosed demographic headwind alongside the real, current 8.2% year-over-year appreciation figure -- both are real and both matter to a full picture.
Key takeaways
- Zillow's average Springfield home value ran $163,198 (March 31, 2026), UP 8.2% year-over-year -- a real, substantial appreciation rate.
- Springfield's housing costs run roughly 44.5% below Illinois's own statewide average, a real, disclosed affordability advantage.
- No independently confirmed median-days-to-pending figure was found specifically for Springfield this pass -- disclosed as a research gap.
- Springfield's real, disclosed population decline (-1.57% since the 2020 census) is a genuine, relevant demographic backdrop to the current appreciation figure.
- Sangamon County's own high property tax rate should be factored into full ownership-cost planning alongside the appreciating home-value figure -- see the property-taxes topic page.
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