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Springfield city, IL

ZIP 62707 — 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 62707

Median Home Value
$164,300
Median Rent
$659
Affordability Snapshot
$45,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,055/mo PITI).

9%
Rent-to-Income Ratio

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

2.0x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

20.8 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 62707 in Springfield city, IL, a household would need roughly $45,000 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 $1,055. That sits below the local median household income ($83,988), 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
86.9%+33% vs US avg
x
Vacancy Rate
6.8%-34% vs US avg
x
Broadband Access
94.9%+9% vs US avg
x
4+ Bedrooms
3.5%-76% vs US avg
x
Built Pre-1939
1.6%-87% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
12.2%-75% vs US avg
x
Mortgage-Free
43.0%+13% vs US avg
x
$164,300
Home Value
$659
Rent
1979
Year Built
2007
Moved In

Residents have lived here since ~2007 on average

Housing Structure

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

  • 1-unit detached80.4%
  • 1-unit attached3.4%
  • 2-9 units1.3%
  • 10+ units0.0%
  • Mobile home & other15.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$164,300
Median rent$659
Owner-occupied86.9%
Vacant6.8%
Price-to-income2.0x
Est. income to buy$45,000