Department of Numbers

Springfield Massachusetts Residential Rent and Rental Statistics

The median monthly gross residential rent in Springfield, MA (the Springfield metro area) was $913 in 2017 according to the Census ACS survey.1 Average gross rent in Springfield was $890 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Springfield median and average rent data will be released in September of 2019.

Data is also available below for Springfield rental vacancy rates, Springfield rent as a percent of median income and the fraction of renters in Springfield.

Show dollars as: Nominal Real

Real Gross Rent in Springfield Massachusetts (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Massachusetts Median Gross Rent $1,208 +0.92% +6.62%
Springfield, MA Median Gross Rent $913 +3.16% +2.58%

Springfield, MA Real Gross Rent Trends

Median gross rent for Springfield peaked in real terms in 2015 at $932 and is now $19 (2.04%) lower. Average gross rent for Springfield peaked in real terms in 2015 at $905 and is now $15 (1.66%) lower.

Real Gross Rent in Springfield: Springfield MA Median, Springfield MA Average, Massachusetts Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Springfield

Date US
Median
Massachusetts
Median
Springfield, MA
Median
Springfield, MA
Average
2017 $1,012 $1,208 $913 $890
2016 $996 $1,197 $885 $898
2015 $987 $1,198 $932 $905
2014 $956 $1,133 $890 $870
2013 $924 $1,100 $868 $893
2012 $912 $1,069 $823 $793
2011 $912 $1,083 $825 $812
2010 $927 $1,093 $845 $827
2009 $931 $1,092 $827 $829
2008 $947 $1,138 $872 $852
2007 $899 $1,078 $835 $801
2006 $909 $1,111 $840 $835

Springfield Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Springfield Massachusetts was 4.77% according to Census ACS data.

Rental Vacancy Rate in Springfield Massachusetts

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Massachusetts 3.87% -0.11% -0.17%
Springfield, MA 4.77% +1.14% +0.87%

Trends in Springfield, MA Rental Vacancy Rate

The rental vacancy rate in Springfield peaked in 2007 at 6.88%. Since then it has fallen by 2.11% to 4.77%. Data records for this series originated in 2005.

Rental Vacancy Rate: Springfield MA, Massachusetts, US

Rental vacancy rate in Massachusetts

Historical Rental Vacancy Rate data for Springfield

Date US Massachusetts Springfield, MA
2017 6.18% 3.87% 4.77%
2016 5.89% 3.98% 3.63%
2015 5.85% 3.48% 4.29%
2014 6.32% 4.04% 3.90%
2013 6.49% 4.61% 4.84%
2012 6.77% 4.46% 4.57%
2011 7.40% 4.76% 3.88%
2010 8.17% 5.80% 4.32%
2009 8.43% 5.83% 4.21%
2008 7.86% 5.28% 4.16%
2007 7.87% 6.20% 6.88%
2006 7.70% 5.55% 5.69%

Rent as a Fraction of Income

Using median household income data for Springfield, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Springfield, median monthly gross rent as a fraction of median household income was 19.78% in 2017 according to the ACS.

Springfield Massachusetts Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Massachusetts 18.73% -0.06% -0.48%
Springfield, MA 19.78% +0.73% -0.70%

Trends in Springfield, MA Rent as a Fraction of Income

The fraction of median Springfield household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.48%. Since then it has fallen by 0.70% to 19.78%.

Fraction of Income towards Rent: Springfield MA, Massachusetts, US

Percent of median household income going towards median monthly gross rent in Springfield Massachusetts

Historical Data for Annual Rent as a Fraction of Income in Springfield Massachusetts

Date US Massachusetts Springfield, MA
2017 20.13% 18.73% 19.78%
2016 20.43% 18.79% 19.05%
2015 20.63% 19.78% 20.36%
2014 20.89% 19.21% 20.48%
2013 20.78% 19.36% 19.47%
2012 20.65% 19.03% 18.58%
2011 20.70% 19.74% 18.83%
2010 20.50% 19.51% 19.02%
2009 20.12% 18.50% 18.25%
2008 19.00% 18.18% 17.65%
2007 18.66% 18.20% 17.96%
2006 18.90% 18.67% 17.93%

Renter Fraction in Springfield Massachusetts

You can calculate the renter fraction in Springfield in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Springfield as a fraction of total Springfield households. In 2017 39.16% of households were renters according to Census ACS data.

Springfield Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Massachusetts 37.68% -0.33% -0.72%
Springfield, MA 39.16% +2.11% -0.76%

Trends in the Springfield, MA Renter Fraction

The Springfield household renter fraction peaked in in 2014 at 39.92% and is now 0.76% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Springfield MA, Massachusetts, US

Fraction of renters in Springfield

History of Springfield Renter Fraction

Date US Massachusetts Springfield, MA
2017 36.13% 37.68% 39.16%
2016 36.88% 38.01% 37.05%
2015 36.97% 38.28% 37.51%
2014 36.90% 38.40% 39.92%
2013 36.50% 38.46% 37.32%
2012 36.09% 37.76% 35.87%
2011 35.42% 37.87% 36.39%
2010 34.65% 37.77% 36.74%
2009 34.13% 35.79% 36.03%
2008 33.36% 35.46% 34.04%
2007 32.80% 34.91% 35.49%
2006 32.73% 35.08% 34.48%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.