Springfield, IL 62703 Real Estate Market Analysis | dynamic.RE
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Market Snapshot
Housing Market
Demand Fundamentals
Springfield, IL — 62703
Market Hotness
81
Hotness Rank
#1,918
Hotness Score
81
Supply Score
84
Demand Score
78
DOM vs US
-19.5%
Faster
Price vs US
17%
Below avg
Median Listing Price
$71K
Population
28,922
Households
93,382
Median Days on Market
34
Active Listings
33
New Listings
32
Housing Market
Pricing
Median Listing Price
$71K
-9.8% YoY
Average Listing Price
$108K
-3.3% YoY
Price per Sq Ft
$73
+7.5% YoY
Median Sq Ft
1,153
-18.4% YoY
Inventory
Active Listings
33
-2.9% YoY
New Listings
32
-23.8% YoY
Total Listings
62
-16.9% YoY
Buyer Competition
Pending Listings
28
-30.0% YoY
Pending Ratio
0.85
-32.8% YoY
Median Days on Market
34
+3.9% YoY
Price Reduced
6.4%
+1.6% YoY
FY2026 Fair Market Rent — Sangamon County
HUD government estimate (40th percentile) — not actual market asking rent.
Studio
$829
/month
1 BR
$970
/month
2 BR
$1,203
/month
3 BR
$1,611
/month
4 BR
$1,682
/month
FMR Trends — Sangamon County
Source: HUD Fair Market Rents
Demand Fundamentals
Median Age
41.0
2024
Population
ZIP Population
28,922
+0.4% YoY
Sangamon County Population
194,345
+0.1% YoY
Households
Total Housing Units
93,382
+0.2% YoY
Age
2024 Age Mix
195K
residents
Under 18
42,640
21.9%
Adults 18–64
114,458
58.7%
65 & Over
37,849
19.4%
Age Composition Over Time
2017–2024
Population Under 18
42,640
-0.8% YoY
Population 65 & Over
37,849
+2.6% YoY
Median Age
41.00
+0.5% YoY
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