Springfield, IL home prices
Typical home $200,781 · +7.4% in a year · income needed $64,900
The Springfield, IL metro area ranks 635 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +7.4% in a year and +31.4% over five years. With 20% down at 7.11%, the typical home costs about $1,514 a month including 1.99% property tax (Sangamon County rate).
Mortgage on the typical Springfield home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $40,156 | $160,625 | $1,081 | $0 | $434 | $1,514 | $64,900 |
| 10% down | $20,078 | $180,703 | $1,216 | $75 | $434 | $1,725 | $73,900 |
| 5% down | $10,039 | $190,742 | $1,283 | $79 | $434 | $1,796 | $77,000 |
| 3.5% down (FHA) | $7,027 | $197,144 | $1,326 | $89 | $434 | $1,849 | $79,200 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.99% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Springfield area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Sangamon County, IL | $200,144 | +7.5% | 1.99% |
| Menard County, IL | $209,256 | +7.0% | 1.72% |
What can you afford in Illinois on your salary? · Illinois home prices · Salaries in Illinois
Frequently asked questions
How much is a house in Springfield?
The typical home in the Springfield, IL metro area is worth $200,781 (Zillow, September 2026).
What salary do you need to buy a house in Springfield?
About $64,900 a year for the typical home with 20% down at 7.11%.