Cost of Living in Springfield, MA
Population: 154,751 • 2026 Data
$51,339
Median Household Income
-34% vs national
$1,114
Median Monthly Rent
-17% vs national
$222,700
Median Home Value
-34% vs national
8.2%
Unemployment Rate
Housing in Springfield
The median home value in Springfield, MA is $222,700. Monthly rent for a typical unit averages $1,114, while total monthly housing costs (including utilities and insurance) average $1,276.
Rent-to-income ratio: 26.0%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Springfield, MA is $51,339. The unemployment rate stands at 8.2%, with a labor force of 69,874 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.