Welcome to our 62702 real estate data hub, tailored for investors in Springfield, IL. We aim to provide valuable insights, empowering you to make well-informed decisions in this unique market.
Explore essential data such as home prices, rental rates, and appreciation trends specific to 62702 in Springfield, IL. Discover Section 8 housing opportunities and challenges to maximize your investment potential in SANGAMON COUNTY.
Leverage our comprehensive, zip code-specific data to excel in Springfield, IL real estate investing. Uncover the wealth of information available, and position yourself for success in the Springfield property market.
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Location Overview
- Zip Code: 62702
- City: Springfield
- State: IL
- Metro Area: Springfield, IL
- County Name: SANGAMON COUNTY
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Real Estate Market Snapshot
- Average Home Price (All Types): $86,794
- Average Home Price (Single Family Homes): $86,855
- Average Monthly Rental Price (All Types): $904
- Price-to-Rent Ratio: 8
- Zillow Projected % appreciation from 4/2023-4/2024: -2.8%
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Section 8 Housing Insights
- Average 2 Bedroom Section 8 Rental Rates: $920
- Average 3 Bedroom Section 8 Rental Rates: $1,210
- Price-to-Rent Ratio for 2 Bedroom Section 8 Properties: 7.86
- Price-to-Rent Ratio for 3 Bedroom Section 8 Properties: 5.98
- Number of Units Offered in Section 8 in the County: 1452
- Number of Occupied Units in Section 8 in the County: 1401
- Percentage of Section 8 Units Occupied in the County: 96.5%
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Historical & Recent Price Appreciation Rates
- Total % Appreciation since 1990 (Government Data): 89.92
- Total % Appreciation since 2000 (Government Data): 47.56
- YTD Appreciation (Backwards from 4/2023, Realtor Data): 1.42%
- 1-Year Appreciation (Backwards from 4/2023, Realtor Data): 3.45%
- 3-Year Appreciation (Backwards from 4/2023, Realtor Data): 15.35%
- 5-Year Appreciation (Backwards from 4/2023, Realtor Data): 26.96%
- 10-Year Appreciation (Backwards from 4/2023, Realtor Data): 27.57%
- 15-Year Appreciation (Backwards from 4/2023, Realtor Data): 30.55%
- 20-Year Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
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Historical & Recent Rent Appreciation Rates
- YTD Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 1-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 3-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%
- 5-Year Rent Appreciation (Backwards from 4/2023, Realtor Data): Not Available%