Springfield, MA home prices
Typical home $372,394 · +3.3% in a year · income needed $113,700
The Springfield, MA metro area ranks 188 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +3.3% in a year and +28.9% over five years. With 20% down at 7.11%, the typical home costs about $2,653 a month including 1.49% property tax (Hampden 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 | $74,479 | $297,915 | $2,004 | $0 | $649 | $2,653 | $113,700 |
| 10% down | $37,239 | $335,155 | $2,255 | $140 | $649 | $3,043 | $130,400 |
| 5% down | $18,620 | $353,774 | $2,380 | $147 | $649 | $3,176 | $136,100 |
| 3.5% down (FHA) | $13,034 | $365,649 | $2,460 | $165 | $649 | $3,273 | $140,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.49% 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 |
|---|---|---|---|
| Hampden County, MA | $351,040 | +4.0% | 1.49% |
| Hampshire County, MA | $449,669 | +2.8% | 1.43% |
| Franklin County, MA | $369,047 | +1.6% | 1.43% |
What can you afford in Massachusetts on your salary? · Massachusetts home prices · Salaries in Massachusetts
Frequently asked questions
How much is a house in Springfield?
The typical home in the Springfield, MA metro area is worth $372,394 (Zillow, September 2026).
What salary do you need to buy a house in Springfield?
About $113,700 a year for the typical home with 20% down at 7.11%.