Springfield, IL 62704 Real Estate Market Analysis | dynamic.RE
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Market Snapshot
Housing Market
Demand Fundamentals
Springfield, IL — 62704
Market Hotness
96
Hotness Rank
#215
Hotness Score
96
Supply Score
94
Demand Score
98
DOM vs US
-26.3%
Faster
Price vs US
45%
Below avg
Median Listing Price
$193K
Population
40,046
Households
93,382
Median Days on Market
27
Active Listings
40
New Listings
60
Housing Market
Pricing
Median Listing Price
$193K
+1.3% YoY
Average Listing Price
$294K
+20.4% YoY
Price per Sq Ft
$116
+9.3% YoY
Median Sq Ft
2,056
+14.6% YoY
Inventory
Active Listings
40
+42.9% YoY
New Listings
60
+11.1% YoY
Total Listings
113
+11.4% YoY
Buyer Competition
Pending Listings
73
-0.7% YoY
Pending Ratio
1.81
-79.5% YoY
Median Days on Market
27
-23.0% YoY
Price Reduced
12.8%
+0.7% 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
40,046
+1.1% 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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