Much like other places in this area, it's significantly more expensive compared to the entire nation. However it's a bit less expensive compared to the city of Washington.
Home prices
The median home in Springfield costs $468,100. Compared to its surrounding areas this is is very similar.Compared to the entire nation it is approximately $250,600 (115%) higher, and compared to the city of Washington it is roughly $133,400 (22%) lower.
Rents
Springfield's median rent is $2,102 per month. Compared to its nearby areas it is about $79 (3%) higher.Compared to the country as a whole it is about $1,040 (97%) higher, and in comparison to the city of Washington is about $561 (36%) higher.
Nearby places
Franconia
Franconia is Springfield's neighbor to the southeast. Housing prices there are a bit less expensive. The cost of the median home in Franconia is $421,100, which works out to $47,000 (11%) lower than Springfield. Rent there is fairly similar. The median monthly rent in Franconia is $2,066, which comes out to $36 (1%) lower than Springfield.
North Springfield
North Springfield is Springfield's neighbor to the northwest. The real estate prices there are pretty similar. The cost of the median home in North Springfield is $474,300, which is $6,200 (1%) higher than Springfield. Rent there is pretty similar. In North Springfield the median rent is $2,008 per month, which works out to $94 (4%) lower than Springfield.
West Springfield
West Springfield is Springfield's neighbor to the west. Housing prices there are fairly similar. The median home in West Springfield costs $472,000, which is very similar to Springfield. Its rents are similar. In West Springfield the median monthly rent is $2,131, which works out to $29 (1%) higher than Springfield.
Lincolnia
Lincolnia is Springfield's neighbor to the northeast. The real estate prices there are pretty similar. The value of the median home in Lincolnia is $474,700, which comes out to $6,600 (1%) higher than Springfield. The rent there is a bit less expensive. The median rent in Lincolnia is $1,820 a month, which is $282 (15%) lower than Springfield.
Kingstowne
Kingstowne is roughly 2 miles southeast of Springfield. Its real estate prices are similar. The value of the median home in Kingstowne is $486,300, which comes out to $18,200 (3%) higher than Springfield. The rent there is similar. Kingstowne's median rent is $2,089 a month, which is very similar to Springfield.
