Market Overview
Home Prices in Springfield, NJ
The median home value in Springfield, NJ is $726,418 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.3% compared to a year ago and up 6.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Springfield are priced77% above average. Springfield is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Springfield home values have risen by approximately37.7%, reflecting strong long-term appreciation in this market.
Price History
Springfield Home Price Trend
City Comparison
Springfield vs. National Median
At $726,418, homes in Springfield cost 77% above the national median of $410,000. Buyers in Springfield should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Springfield?
20% Down Payment
$145,284
on $726,418
Monthly P&I
$3,789/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,812/mo
incl. taxes & insurance
Income Needed
$192,480
gross annual (30% rule)
10% Down Option
$72,642
+ PMI applies
Loan Amount (20% dn)
$581,134
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Springfield, NJ?
The median home value in Springfield is $726,418 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.3% year-over-year.
How much have home prices changed in Springfield?
Over the past year, home values in Springfield have increased by 0.3%. Over five years, prices have risen approximately 37.7%.
How much do I need to earn to buy a home in Springfield?
To comfortably afford the median home price of $726,418 with a 20% down payment ($145,284) at today's rates (6.8%), you'd need a gross annual income of approximately $192,480. This assumes keeping total housing costs at or below 30% of gross income.
How does Springfield compare to the national average home price?
The national median home value is approximately $410,000. At $726,418, homes in Springfield are 77% above the national average.
What metro area is Springfield part of?
Springfield is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.