The story of this market
The typical home in ZIP 01116 sells for about $307,000, or $216 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 32 days to sell. HUD's fair market rent for a two-bedroom is $2,000 a month.
ZIP 01116 — Longmeadow
The Springfield housing market shows steady demand with a median sale price of $307,000, reflecting a 2.5% year-over-year increase. While inventory remains tight, the market is characterized by a balanced environment for buyers and sellers. Growth is supported by the city's role as a regional economic hub, though affordability remains a key factor for local residents.
This ZIP code is well-suited for families and first-time homebuyers seeking relatively affordable housing options within the Springfield market. It also attracts commuters who value access to major regional highways and proximity to local employment centers.
Median prices moved up 2.5% year over year.
Homes spend a median of 32 days on market with 2.1 months of supply — a fast-moving market.
26% of listings have cut prices · homes sell at 100.4% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.2% · poverty 24.1% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 01116, Springfield, MA
Springfield experiences higher crime rates compared to the Massachusetts state average, with property and violent crime remaining key areas of focus for local law enforcement. Trends have shown fluctuations, but the city continues to implement community-based safety initiatives to address regional disparities.
The area is served by Springfield Public Schools, which faces ongoing challenges regarding academic performance and resource allocation. While some magnet and specialized programs exist, overall district ratings are generally lower than the state median.
The region is subject to standard New England climate risks, including winter storms and occasional flooding in low-lying areas near the Connecticut River. Property insurance premiums are influenced by these environmental factors and the age of the housing stock.
Springfield serves as a regional economic hub with major employers in healthcare, education, and government, including Baystate Health and MassMutual. Development momentum is supported by ongoing downtown revitalization efforts and infrastructure improvements aimed at enhancing connectivity.
Property taxes are assessed by the City of Springfield based on a split tax rate structure that differentiates between residential and commercial properties. Residents are subject to municipal levies, with additional assessments for county and state-level services.
Residents in this ZIP code typically rely on personal vehicles for commuting, with access to major corridors like I-91 and I-90. Public transit options are available through the Pioneer Valley Transit Authority, providing connections to the downtown employment core.
The area offers access to local parks and green spaces, including proximity to the expansive Forest Park. Shopping and dining options are concentrated along major thoroughfares, providing convenient access to daily necessities.
The rental market is characterized by steady demand and limited vacancy, driven by the city's role as a regional center. Rent growth has remained moderate, with a mix of multi-family housing and single-family rentals available.
The economy is anchored by healthcare, education, and financial services, with major employers including Baystate Health and MassMutual. The city serves as a primary economic driver for the Pioneer Valley region.
The city is served by a network of highways including I-91 and I-90, and features a regional transit hub at Union Station. Commuter rail services provide connections to Hartford and New Haven.
Ongoing development efforts focus on downtown revitalization and the expansion of mixed-use residential projects to increase housing density.
Parcels are subject to municipal property taxes and may fall within specific utility or fire districts depending on the exact location.
Property insurance in the area is influenced by regional hazard profiles, including winter weather and flood risks, with premiums generally aligning with state averages.
Data retrieved from US Census Bureau ACS tables for ZCTA 01116.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Six Flags New England4.24.2 mi
- Sonny's Place4.55.4 mi
- Dave & Buster's Manchester4.116.6 mi
- Spare Time Windsor Locks4.410.9 mi
- Round1 Bowling & Arcade - Holyoke4.110 mi
- Six Flags New England4.24.2 mi
- The Big E4.55.3 mi
- Eastern States Exposition4.55.4 mi
- Golden Corral Buffet & Grill4.16.9 mi
- Big E Gate 14.65.6 mi
- Six Flags New England4.24.2 mi
- Naismith Basketball Hall of Fame4.54.2 mi
- Eastern States Exposition4.55.4 mi
- Cinemark West Springfield 15 and XD4.57.4 mi
- Sonny's Place4.55.4 mi
- Naismith Basketball Hall of Fame4.54.2 mi
- Springfield Armory National Historic Site4.84.9 mi
- New England Air Museum4.810.7 mi
- Springfield Museums4.74.8 mi
- The Amazing World of Dr. Seuss Museum4.74.8 mi
- Ashley Reservoir4.910.8 mi
- Bright Nights at Forest Park4.43.1 mi
- Chicopee Memorial State Park4.48.7 mi
- Windsor Locks Canal State Park Trail4.65.6 mi
- Szot Park4.57.3 mi
- Oxbow Marina4.417.6 mi
- Brunelle's Marina4.415.3 mi
- The Ranch Golf Club4.512.7 mi
- GREATHORSE4.85.3 mi
- Twin Hills Country Club4.60.5 mi
- Topstone Golf Course4.612.5 mi
- Veterans Memorial Golf Course4.54.1 mi
- Holyoke Mall4.310 mi
- Burlington4.33.6 mi
- Marshalls & HomeGoods4.49 mi
- Kohl's4.27.3 mi
- Randall's Farm4.79.7 mi
- Bradley International Airport4.410.8 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
One of the largest urban parks in the United States, featuring trails, gardens, and recreational facilities.
A major landmark attraction celebrating the history of basketball.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.