Real Estate Investing in Springfield, Massachusetts (01118)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 01118 (Springfield, MA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
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 (01118)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 01118 Springfield
ZIP 01118 in Springfield, MA carries a healthy set of headwinds. Home values near $328K and rents of $1,746/mo sit inside a market where underwriting has to be tight.
Rent of $1,746/mo on a $328K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 01118 sits below the stated 0.0% once reality is priced in.
Regionally, 01118 sits on the difficult end of the MA spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
A impressive renter share of 22% in 01118 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 01118 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Springfield:
Property Strategy for 01118
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $277,591 | $1,940 | 5.0% | +8.5% | $138,796 |
| 3BR | $315,408 | $2,380 | 5.4% | +8.4% | $105,136 |
| 4BR | $337,084 | $2,570 | 5.5% | +8.3% | $84,271 |
Market Trends
Home Value History (with trend line)
📊 How Does 01118 Compare?
| Metric | 01118 | Springfield | Springfield, MA | Massachusetts |
|---|---|---|---|---|
| Home Value | $327,651 | $134,177 | N/A | $645,115 |
| 5-Year CAGR | 6.0% | 6.5% | N/A | 7.0% |
| Avg Rent | $1,746 | $1,726 | N/A | - |
| Cap Rate | 4.2% | 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 01118 (Springfield, MA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 01118 (Springfield, MA)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $327,651 |
| Monthly Rent | $1,746 |
| Price-to-Rent | 15.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.2% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +6.0% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.2%). 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 01118
Population: 15,009
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 01118
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Alice B Beal Elementary
Birchland Park
Conservatory of the Arts
East Longmeadow High
Glickman Elementary
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
How strong is tenant demand in Springfield, MA?
Expect a solid tenant pool in Springfield, MA. The rental market absorbs $1,746/mo rents without meaningful friction.
How should investors approach Springfield, MA?
A careful cash-flow rentals with hands-on management strategy Springfield, MA best. The market produces consistent results for that approach at the $328K price point.
What is the median home value in Springfield, MA?
Springfield, MA home values average about $328K. That price point suits investors targeting rentals with $1,746/mo in monthly income.
Are eviction rules reasonable in Springfield, MA?
Rental owners in Springfield, MA deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
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 $328K and rents around $1,746/mo create a solid backdrop for investor activity.
You know 01118 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 01118 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 01118 ranks in Springfield, MA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 01118 (Springfield)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 01118 (Springfield, MA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.