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Featured local agent — Springfield, LA
Sarah Mitchell
Compass Real Estate · Springfield, LA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Springfield, LA Housing Market
The last median sale price Redfin published was $525,200, +147.2% year over year (through May 2026). With 1.0 months of supply and homes going under contract in about 4 days, Springfield is a strong seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $525,200 home is about $2,804/mo in principal and interest.
Key numbers for Springfield, LA
Median sale price
$525,200
+147.2% year over year
Redfin, through May 2026
Days on market
4
Fast-moving
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$51,667
Home costs 10.2x income
U.S. Census ACS, 2023
Sale-to-list ratio
105.3%
Selling above asking
Redfin, through May 2026
Zillow figures refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Springfield a buyer's or seller's market?
Springfield, LA is a strong seller's market, based on 1.0 months of supply and homes selling in about 4 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Springfield housing market data show?
Every row below is Redfin's final published month for Springfield, LA. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $525,200 |
| Year-over-year price change | +147.2% |
| Median price per sq ft | $226/sq ft |
| Median days on market | 4 days |
| Months of supply | 1.0 months |
| Sale-to-list price ratio | 105.3% |
| Homes sold (that month) | 1 |
| Market condition | Strong seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Springfield is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Springfield is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Springfield home prices moved?
Across the 32 months we hold for Springfield, LA, the median sale price rose 76.5%, from $297,500 in May 2021 to $525,200. For prices to fall meaningfully from here, supply would have to keep building past 1.0 months while the sale-to-list ratio slips below its current 105.3%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Springfield?
Priced off the median sale price of $525,200 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $105,040 | $420,160 | $2,804/mo |
| 5% | $26,260 | $498,940 | $3,330/mo |
Redfin, through May 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $2,804, that implies roughly $120,163 a year before you add taxes and insurance. The median household in Springfield earns $51,667, about $68,496 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the median sale price to fit the 28% rule. That puts the price-to-income ratio at 10.2x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Springfield in the next 12 months?
Tell us your timeline. We send the Springfield market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Springfield?
Zillow does not publish a rent index (ZORI) for Springfield, LA, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Springfield?
We hold fewer than two months of inventory readings for Springfield, LA, so there is no trend to report yet.
How does Springfield compare to Louisiana and the U.S.?
Springfield homes sell for $525,200 — 95% above the Louisiana median of $269,000. Against the national median of $410,700, Springfield runs 28% higher. Year-over-year, Springfield moved +147.2% against Louisiana's +3.2% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Springfield, LA | $525,200 | +147.2% | 4 days |
| Louisiana statewide | $269,000 | +3.2% | 55 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Springfield
What buyers should watch
- Months of supply, currently 1.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The gap between 5% and 20% down here is $526 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $525,200 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Springfield listing goes under contract in 4 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 105.3% of asking. Price at the number you want and let competition do the rest.
- Comparable ZIP-level pricing inside Springfield varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Springfield
Explore homes currently listed for sale in Springfield, Louisiana across major real estate platforms.
How much do homes cost in Springfield by property type?
How the Springfield, LA market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $525,200 | $226/sq ft | 1 | 4 days |
Who lives in Springfield?
American Community Survey estimates for Springfield. U.S. Census ACS, 2023
Population
565
Households
214
Median income
$51,667/yr
Median age
34 years
Owner-occupied
85.0%
Median home value
$206,000
Median gross rent
$673/mo
Mean commute
34.2 min
85.0% of occupied homes in Springfield are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market.
Which public schools serve Springfield?
3 schools tracked · 1,408 students
The largest public schools serving Springfield, LA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Springfield Elementary School
Grades PK-4 · 571 students
Springfield High School
Grades 9-12 · 427 students
Springfield Middle School
Grades 5-8 · 410 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Springfield, LA?
Ordered by distance from Springfield, not by size. Compare Springfield side by side with any of them.
Springfield housing market FAQ
Is Springfield a buyer's or seller's market?
Springfield, LA is currently a strong seller's market. That read comes from 1.0 months of supply, homes going under contract in about 4 days, and sellers getting 105.3% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Springfield?
The median sale price in the last month Redfin published was $525,200, about $226 per square foot.
Is Springfield cheaper than the rest of Louisiana?
Springfield's median sale price of $525,200 is 95% higher than the Louisiana statewide median of $269,000, and 28% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Springfield?
Homes in Springfield, LA spent a median of 4 days on market before going under contract, versus 55 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in Springfield?
At the current 30-year fixed rate of 7.03%, 20% down on a $525,200 home is about $2,804 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $120,163 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $51,667.
Are home prices rising in Springfield?
Redfin's last published year-over-year change for Springfield, LA was +147.2%, measured through May 2026. That series is frozen; treat it as a historical reading rather than a current trend.
What are the cheapest ZIP codes in Springfield?
Springfield ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Springfield?
That depends on your timeline, not on a headline. What the data says today: Springfield, LA is a strong seller's market with 1.0 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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