Real Estate Investing in Springfield, Massachusetts (01104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 01104 (Springfield, MA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Springfield, MA (01104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 01104 Springfield
Investors eyeing 01104 need to respect the fundamentals at play. Home values of $295K come alongside slower price movement and elevated management overhead.
For an experienced owner, 01104 can be a a strong candidate for hunting ground — but the discount at $295K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Springfield have seen price recovery that 01104 has not matched. Hampden County data supports the view that the spread is structural rather than temporary.
Resident income in 01104 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Distressed ZIPs reward experience. resilient returns are possible in 01104, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Springfield:
Property Strategy for 01104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $250,800 | $1,820 | 5.2% | +9.3% | $125,400 |
| 3BR | $281,281 | $2,230 | 5.7% | +8.9% | $93,760 |
| 4BR | $299,360 | $2,410 | 5.8% | +8.8% | $74,840 |
| 5BR | $324,029 | — | — | +8.7% | $64,806 |
Market Trends
Home Value History (with trend line)
📊 How Does 01104 Compare?
| Metric | 01104 | Springfield | Springfield, MA | Massachusetts |
|---|---|---|---|---|
| Home Value | $295,449 | $134,177 | N/A | $645,115 |
| 5-Year CAGR | 6.4% | 6.5% | N/A | 7.0% |
| Avg Rent | $1,638 | $1,726 | N/A | - |
| Cap Rate | 4.3% | 4.8% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 01104 (Springfield, MA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $295,449 |
| Monthly Rent | $1,638 |
| Price-to-Rent | 15.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.3% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +6.5% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +8.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (7.0%) exceeds the estimated cap rate (4.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 01104
Population: 21,745
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 01104
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 766 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are homes affordable in Springfield, MA?
Typical homes in Springfield, MA go for around $295K. The 5-year CAGR of 0.0% predictable price movement.
What strategy should investors use in Springfield, MA?
Most investors in Springfield, MA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Is real estate in Springfield, MA a good investment right now?
Our data puts Springfield, MA at 3.0/5 for investability. Home prices of $295K and rents around $1,638/mo create a solid backdrop for investor activity.
How tight is the rental market in Springfield, MA?
Vacancy in Springfield, MA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,638/mo.
Does Springfield, MA favor landlords or tenants?
For rental operators, Springfield, MA rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
You know 01104 now. You don’t know where it ranks.
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How 01104 ranks in Springfield, MA
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