US5.com
  1. Home
  2. States
  3. Illinois
  4. ZIP 62704
  5. Housing & Real Estate
Springfield city, IL

ZIP 62704 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 62704

Median Home Value
$166,900
Median Rent
$754
Affordability Snapshot
$46,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,072/mo PITI).

14%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.5x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

18.4 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 62704 in Springfield city, IL, a household would need roughly $46,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,072. That sits below the local median household income ($66,352), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
61.7%-6% vs US avg
x
Vacancy Rate
9.6%-7% vs US avg
x
Broadband Access
89.6%+3% vs US avg
x
4+ Bedrooms
2.2%-85% vs US avg
x
Built Pre-1939
6.8%-47% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
22.2%-55% vs US avg
x
Mortgage-Free
38.3%+0% vs US avg
x
$166,900
Home Value
$754
Rent
1966
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached63.5%
  • 1-unit attached6.1%
  • 2-9 units17.6%
  • 10+ units12.3%
  • Mobile home & other0.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$166,900
Median rent$754
Owner-occupied61.7%
Vacant9.6%
Price-to-income2.5x
Est. income to buy$46,000