Springfield, MA

Population: 153,703
Average annual home appreciation rate: 9.62%
Total of homes for sale in this market: 113
Median home price: $145,842
Median Rent: $911 per room
Home price range: 70.49% of homes are between $99,001 – $198,000
Median sales price: $121,900
Number of homes: 711
Median foreclosure sales price: $96,517
Foreclosure discount: 20%
Most common home type: 43.89% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 9.61%
Number of renters: 53.42%
Number of owner occupied: 46.58%
Number people living below poverty level: 29.44%
Unemployment rate: 9.20%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the Springfield area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor.

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