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Springfield Public

Learn about the people, housing, costs and businesses in Springfield Public, Minnesota

Median Home$134,708
Median Rent$801/month
Population4,611
Leading IndustriesFinance & Insurance · Information & Media · Construction9% finance & insurance
Home Value Growth+9.0% over 2 years
Family-Friendly26% of residentsabove average nationally
Homeowners79% of occupied units
NotableAffordable Market$135k median home · lower cost than 89% of the country
Springfield Public
MN

Explore Springfield Public

Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in Springfield Public?

As of today, the 30-year fixed mortgage rate for Springfield Public is approximately 7.174% (7.221% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Springfield Public?

The median home value in Springfield Public is $135k. The median monthly rent is $801. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Springfield Public?

Home values in Springfield Public have increased 9.0% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Springfield Public?

Based on a typical all-in ownership cost of $731/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $31k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Springfield Public is $66k/year.

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What industries drive the economy in Springfield Public?

The largest employment sectors in Springfield Public are public administration (22%) and retail (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.