Springfield, IL

Metro area in Illinois · Updated Jan 2026

12-Month Forecast ↑ +1.5%

Median Home Value

$188,362

↑ +7.9%

Year-over-year

Median Rent

$1,140/mo

↑ +5.5%

Year-over-year

Rental Yield

7.3%

Excellent for investors

5-Year Appreciation

+31.1%

Income Needed to Buy

$59,199

20% down, 30% DTI max

Active Listings

378

For-sale inventory

Price-to-Rent Ratio

13.8

Favors buying

Price Forecast

1 Month

↑ +0.5%

3 Months

↑ +1.2%

12 Months

↑ +1.5%

5-Year Price Trend

Calculate your mortgage for Springfield, IL

See monthly payments for a $188,362 home →

Should you rent or buy in Springfield, IL?

Price-to-rent ratio: 13.8x — Buying likely wins. Run a full breakeven analysis with Springfield, IL numbers pre-filled →

Frequently Asked Questions