SPRINGFIELD Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Springfield averaged 6.9% for the week of 2024-03-21, compared to the national average of 6.87% for the same period.

The average rate for the prior week (2024-03-14) was 6.67% and one month ago for the week of 2024-02-15, the average rate was 6.7%.

Springfield's average rate one year ago was 6.43%.

For refis of the same type during the week of 2024-03-21, the average rate was 7.44%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-03-21 6.87%
Springfield 30 Year Fixed Rate 2024-03-21 6.9%
Springfield 30 Year Fixed Rate Refi 2024-03-21 7.44%
Springfield 15 Year Fixed Rate 2024-03-21 6.83%
Springfield 15 Year Fixed Rate Refi 2024-03-21 6.61%
Springfield 30 Year FHA 2024-03-21 6.86%
Springfield 30 Year FHA Refi 2024-03-21 6.5%
Springfield 30 Year USDA 2024-03-21 6.47%
Springfield 30 Year USDA Refi 2024-03-21 6.77%
Springfield 30 Year VA 2024-03-21 6.73%
Springfield 30 Year VA Refi 2024-03-21 6.44%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within SPRINGFIELD, IL.

SPRINGFIELD Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the SPRINGFIELD, IL market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
INB 243 6.95% $2,293
Bank of Springfield 189 6.56% $2,197
United Community Bank 125 6.70% $1,822
Heartland Bank and Trust Company 112 6.63% $2,192
HEARTLAND 102 6.42% $1,986
FLAT BRANCH MORTGAGE, INC. 97 6.81% $3,195
CITIZENS EQUITY FIRST 69 6.59% $1,367
Morton Community Bank 51 6.66% $2,422
Carrollton Bank 40 6.47% $2,250
QUICKEN LOANS, LLC 34 6.97% $5,654
Marine Bank 32 6.02% $1,863
PNC Bank 31 6.90% $2,913
JPMorgan Chase Bank 25 7.04% $3,579
Prairie State Bank and Trust 24 6.58% $1,819
Petefish, Skiles & Co. 24 6.35% $1,882
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 20 6.87% $4,889
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 17 6.98% $5,001
U.S. Bank 16 7.14% $2,603
GUARANTEED RATE, INC. 16 7.05% $4,443
Regions Bank 15 6.72% $2,879
LEADERONE FINANCIAL CORPORATION 11 7.11% $4,890
FIRST STATE MORTGAGE SERVICES, LLC 10 6.39% $3,785
Wells Fargo Bank 9 6.51% $4,026
UNITED WHOLESALE MORTGAGE, LLC 9 6.86% $6,330
CROSSCOUNTRY MORTGAGE, LLC 7 6.97% $4,733
USAA Federal Savings Bank 6 6.60% $4,254
Credit Union 1 5 7.15% $3,888
GUILD MORTGAGE COMPANY 5 6.98% $3,873
BROKER SOLUTIONS, INC. 5 7.05% $3,810
Fifth Third Bank 4 6.34% $7,139
DAS Acquisition Company, LLC 4 6.56% $3,997
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.75% $2,708
Bank of America 3 6.71% $3,032
NAVY FEDERAL CREDIT UNION 3 7.21% $1,678
CNB Bank And Trust, N.A. 3 7.08% $2,568
MEMBER FIRST MORTGAGE, LLC 3 6.92% $3,326
LOANDEPOT.COM, LLC 3 6.79% $8,882
PENTAGON FEDERAL CREDIT UNION 2 6.00% $3,559
Busey Bank 2 6.69% $2,259
CALIBER HOME LOANS, INC. 2 7.06% $4,583
CHURCHILL MORTGAGE CORPORATION 2 8.63% $5,404
CIBM Bank 2 6.75% $3,037
CMG MORTGAGE, INC. 2 6.63% $6,490
COMPASS MORTGAGE, INC. 2 6.69% $3,286
Farm Credit Mid-America, ACA 2 7.31% $5,591
First Bankers Trust Company 2 8.25% $2,439
FIRST CENTENNIAL MORTGAGE CORPORATION 2 5.88% $2,218
GUIDANCE RESIDENTIAL, LLC 2 7.13% $5,549
LAKE MICHIGAN CREDIT UNION 2 5.13% $2,983
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.38% $6,231
ROYAL UNITED MORTGAGE LLC 2 7.06% $6,482
THRIVE MORTGAGE, LLC 2 7.44% $4,534
ZILLOW HOME LOANS, LLC 2 6.88% $4,245
First Federal Savings and Loan Association of Lakewood 1 5.50% $2,257
HOMESIDE FINANCIAL, LLC 1 6.38% $2,993
I. H. MISSISSIPPI VALLEY CREDIT UNION 1 7.50% $2,152
DUPACO COMMUNITY 1 5.13% $2,391
INTERCAP LENDING INC. 1 6.88% $7,441
DIGITAL Federal Credit Union 1 5.63% $2,565
Key Mortgage Services, Inc. 1 6.38% $5,563
University of Wisconsin Credit Union 1 5.75% $1,831
DELMAR FINANCIAL COMPANY 1 7.99% $2,740
Deere Employees Credit Union 1 6.75% $2,949
CONSUMERS COOPERATIVE CREDIT UNION 1 7.38% $4,003
Colonial Savings, F.A. 1 6.63% $5,998
MORTGAGE ACCESS CORP. 1 6.25% $3,744
Mortgage Research Center, LLC 1 6.25% $863
CITY-COUNTY CREDIT UNION 1 6.75% $3,148
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $6,841
Nations Lending Corporation 1 5.88% $4,867
CHARTER WEST BANK 1 6.99% $5,684
Northpointe Bank 1 6.00% $4,415
Old National Bank 1 6.75% $5,441
1ST MIDAMERICA 1 6.25% $2,245
BETTER MORTGAGE CORPORATION 1 6.75% $2,638
Plains Commerce Bank 1 7.75% $2,582
BAY-VALLEY MORTGAGE GROUP 1 7.50% $5,543
Barrington Bank & Trust Company, N.A. 1 6.50% $3,615
American Bank of Missouri 1 9.00% $1,169
PROVIDENT FUNDING ASSOCIATES, L.P. 1 5.75% $2,596
Associated Bank 1 5.50% $2,183
QUORUM FEDERAL CREDIT UNION 1 6.38% $1,969
AMERISAVE MORTGAGE CORPORATION 1 6.25% $12,059
ALLIED MORTGAGE GROUP, INC. 1 7.00% $6,252
SCOTT CREDIT UNION 1 7.63% $2,481
Servion, Inc. 1 6.75% $100
Stifel Bank and Trust 1 5.38% $1,715
The Central Trust Bank 1 6.62% $1,563
The Federal Savings Bank 1 6.88% $12,186
The Huntington National Bank 1 5.75% $2,810
AFFINITY 1 5.88% $2,547
American Mortgage & Equity Consultants, Inc. 1 6.50% $4,165
GREENSTATE CREDIT UNION 1 6.75% $2,039
GUARANTEED RATE AFFINITY, LLC 1 7.10% $2,723
GENEVA FINANCIAL, LLC 1 6.63% $6,623
AMERICAN FINANCING CORPORATION 1 6.99% $4,756
Gate City Bank 1 6.88% $4,855
Flagstar Bank, FSB 1 5.38% $7,030

SPRINGFIELD Average Closing Costs & Other Stats

SPRINGFIELD, IL's 98 lenders originated 3,969 loans during 2023. The total origination value was $621,815,000, with an average loan value of $156,668.

SPRINGFIELD's average closing costs are $2,881.

The top SPRINGFIELD lender as defined by loan originations is INB, with 243 loans originated. Their average total fees are $2,293, which is $96 higher than the next largest lender, Bank of Springfield.

The lowest fee SPRINGFIELD lenders (with over 10 loans originated) are CITIZENS EQUITY FIRST ($1,367), Prairie State Bank and Trust ($1,819), United Community Bank ($1,822), Marine Bank ($1,863) and Petefish, Skiles & Co. ($1,882).

The lowest rate SPRINGFIELD lenders (with over 10 loans originated) are Marine Bank (6.02%), Petefish, Skiles & Co. (6.35%), FIRST STATE MORTGAGE SERVICES, LLC (6.39%), HEARTLAND (6.42%) and Carrollton Bank (6.47%).

SPRINGFIELD, IL Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
INB $93,115,000 $82,750,000 -11.1% 13.3%
Bank of Springfield $83,500,000 $57,320,000 -31.4% 9.2%
United Community Bank $61,580,000 $50,895,000 -17.4% 8.2%
FLAT BRANCH MORTGAGE, INC. $32,545,000 $30,375,000 -6.7% 4.9%
Heartland Bank and Trust Company $160,000 $26,460,000 16,437.5% 4.3%
Alliance Community Bank $21,135,000 $26,390,000 24.9% 4.2%
CITIZENS EQUITY FIRST $30,740,000 $20,870,000 -32.1% 3.4%
Morton Community Bank $620,000 $18,660,000 2,909.7% 3.0%
HEARTLAND $27,645,000 $16,865,000 -39.0% 2.7%
QUICKEN LOANS, LLC $21,230,000 $16,800,000 -20.9% 2.7%
Old National Bank $16,555,000 n/a 2.7%
PNC Bank $19,655,000 $14,995,000 -23.7% 2.4%
Carrollton Bank $18,230,000 $14,775,000 -19.0% 2.4%
Prairie State Bank and Trust $18,615,000 $14,550,000 -21.8% 2.3%
Marine Bank $45,175,000 $12,390,000 -72.6% 2.0%
West Central Bank $12,295,000 $10,440,000 -15.1% 1.7%
Warren-Boynton State Bank $31,255,000 $10,310,000 -67.0% 1.7%
Mortgage Research Center, LLC $12,340,000 $9,535,000 -22.7% 1.5%
WALKER & DUNLOP, LLC $9,105,000 n/a 1.5%
Bank & Trust Company $9,345,000 $8,445,000 -9.6% 1.4%
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $5,675,000 $7,620,000 34.3% 1.2%
GUARANTEED RATE, INC. $1,615,000 $7,495,000 364.1% 1.2%
U.S. Bank $12,520,000 $6,440,000 -48.6% 1.0%
DIAMOND RESIDENTIAL MORTGAGE CORPORATION $5,855,000 $6,080,000 3.8% 1.0%
Security Bank, s.b. $8,730,000 $5,805,000 -33.5% 0.9%
Petefish, Skiles & Co. $7,410,000 $5,775,000 -22.1% 0.9%
Regions Bank $3,690,000 $5,770,000 56.4% 0.9%
Citibank $5,100,000 n/a 0.8%
JPMorgan Chase Bank $8,900,000 $4,795,000 -46.1% 0.8%
FIRST STATE MORTGAGE SERVICES, LLC $1,710,000 $4,180,000 144.4% 0.7%
American Bank of Missouri $70,000 $4,090,000 5,742.9% 0.7%
LEADERONE FINANCIAL CORPORATION $3,815,000 $3,995,000 4.7% 0.6%
Williamsville State Bank & Trust $6,170,000 $3,960,000 -35.8% 0.6%
Hickory Point Bank and Trust $8,350,000 $3,270,000 -60.8% 0.5%
BROKER SOLUTIONS, INC. $1,395,000 $2,915,000 109.0% 0.5%
USAA Federal Savings Bank $4,170,000 $2,850,000 -31.7% 0.5%
UNITED WHOLESALE MORTGAGE, LLC $2,545,000 $2,470,000 -2.9% 0.4%
FREEDOM MORTGAGE CORPORATION $3,830,000 $2,245,000 -41.4% 0.4%
CROSSCOUNTRY MORTGAGE, LLC $2,030,000 $1,925,000 -5.2% 0.3%
Credit Union 1 $1,215,000 $1,895,000 56.0% 0.3%
Plains Commerce Bank $2,210,000 $1,790,000 -19.0% 0.3%
LOANDEPOT.COM, LLC $3,050,000 $1,675,000 -45.1% 0.3%
Wells Fargo Bank $6,525,000 $1,630,000 -75.0% 0.3%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $2,075,000 $1,590,000 -23.4% 0.3%
PENNYMAC LOAN SERVICES, LLC $1,210,000 $1,530,000 26.4% 0.2%
Fifth Third Bank $335,000 $1,420,000 323.9% 0.2%
Mr. Cooper ( Nationstar Mortgage ) $1,435,000 $1,405,000 -2.1% 0.2%
DAS Acquisition Company, LLC $810,000 $1,380,000 70.4% 0.2%
NAVY FEDERAL CREDIT UNION $2,490,000 $1,340,000 -46.2% 0.2%
MEMBER FIRST MORTGAGE, LLC $2,115,000 $1,285,000 -39.2% 0.2%
Stifel Bank and Trust $665,000 $1,180,000 77.4% 0.2%
GUIDANCE RESIDENTIAL, LLC $265,000 $1,170,000 341.5% 0.2%
NEWREZ LLC $1,745,000 $1,050,000 -39.8% 0.2%
BankFirst $1,045,000 n/a 0.2%
GUILD MORTGAGE COMPANY $585,000 $1,025,000 75.2% 0.2%
CNB Bank And Trust, N.A. $1,720,000 $995,000 -42.2% 0.2%
First Federal Savings and Loan Association of Lakewood $415,000 $965,000 132.5% 0.2%
PRIMELENDING, A PLAINSCAPITAL COMPANY $490,000 $955,000 94.9% 0.2%
Farm Credit Mid-America, ACA $665,000 $905,000 36.1% 0.1%
Bank of America $1,115,000 $900,000 -19.3% 0.1%
Discover Bank $295,000 $835,000 183.1% 0.1%
BankPlus $825,000 n/a 0.1%
American Mortgage & Equity Consultants, Inc. $810,000 n/a 0.1%
First National Bank in Tremont $810,000 n/a 0.1%
CALIBER HOME LOANS, INC. $1,525,000 $785,000 -48.5% 0.1%
LAKE MICHIGAN CREDIT UNION $780,000 n/a 0.1%
AMERISAVE MORTGAGE CORPORATION $2,540,000 $745,000 -70.7% 0.1%
Land of Lincoln Credit Union $115,000 $700,000 508.7% 0.1%
Barrington Bank & Trust Company, N.A. $1,560,000 $660,000 -57.7% 0.1%
NEW DAY FINANCIAL, LLC $1,320,000 $645,000 -51.1% 0.1%
21ST MORTGAGE CORPORATION $405,000 $615,000 51.9% 0.1%
Busey Bank $1,110,000 $610,000 -45.0% 0.1%
CIBM Bank $65,000 $605,000 830.8% 0.1%
VILLAGE CAPITAL MORTGAGE $580,000 $585,000 0.9% 0.1%
ZILLOW HOME LOANS, LLC $570,000 n/a 0.1%
Magnolia Bank $550,000 n/a 0.1%
PROVIDENT FUNDING ASSOCIATES, L.P. $535,000 n/a 0.1%
PENTAGON FEDERAL CREDIT UNION $440,000 $525,000 19.3% 0.1%
GREENSTATE CREDIT UNION $2,305,000 $520,000 -77.4% 0.1%
First Bankers Trust Company $5,030,000 $510,000 -89.9% 0.1%
Third Federal Savings and Loan Association of Cleveland $300,000 $505,000 68.3% 0.1%
The Federal Savings Bank $490,000 n/a 0.1%
THRIVE MORTGAGE, LLC $470,000 n/a 0.1%
NBKC BANK $620,000 $465,000 -25.0% 0.1%
People's Bank of Seneca $435,000 n/a 0.1%
Servion, Inc. $220,000 $425,000 93.2% 0.1%
MidAmerica National Bank $115,000 $415,000 260.9% 0.1%
CHURCHILL MORTGAGE CORPORATION $470,000 $410,000 -12.8% 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $640,000 $410,000 -35.9% 0.1%
The First National Bank of Raymond $410,000 n/a 0.1%
Colonial Savings, F.A. $385,000 n/a 0.1%
CMG MORTGAGE, INC. $380,000 n/a 0.1%
The Huntington National Bank $5,310,000 $380,000 -92.8% 0.1%
DIGITAL Federal Credit Union $780,000 $360,000 -53.8% 0.1%
Figure Lending LLC $190,000 $355,000 86.8% 0.1%
ROYAL UNITED MORTGAGE LLC $495,000 $355,000 -28.3% 0.1%
COMPASS MORTGAGE, INC. $310,000 $350,000 12.9% 0.1%
ENDEAVOR CAPITAL, LLC. $350,000 n/a 0.1%
AFFINITY $345,000 n/a 0.1%
GENEVA FINANCIAL, LLC $410,000 $345,000 -15.9% 0.1%
The Central Trust Bank $125,000 $335,000 168.0% 0.1%
PHH Mortgage Corporation $85,000 $325,000 282.4% 0.1%
Paramount Residential Mortgage Group, Inc. $320,000 n/a 0.1%
SCOTT CREDIT UNION $335,000 $320,000 -4.5% 0.1%
FCB Banks $320,000 $315,000 -1.6% 0.1%
GERSHMAN INVESTMENT CORP. $120,000 $315,000 162.5% 0.1%
Deere Employees Credit Union $245,000 $300,000 22.4% 0.0%
OCMBC, INC. $300,000 n/a 0.0%
Coastal Community Bank $295,000 n/a 0.0%
INTERCAP LENDING INC. $295,000 n/a 0.0%
MORTGAGE ACCESS CORP. $295,000 n/a 0.0%
QUORUM FEDERAL CREDIT UNION $55,000 $295,000 436.4% 0.0%
HOMEBRIDGE FINANCIAL SERVICES, INC. $290,000 n/a 0.0%
MORTGAGE SOLUTIONS OF COLORADO, LLC $290,000 n/a 0.0%
Associated Bank $265,000 n/a 0.0%
Carrington Mortgage Services, LLC $1,125,000 $260,000 -76.9% 0.0%
Key Mortgage Services, Inc. $250,000 n/a 0.0%
Midland States Bank $230,000 n/a 0.0%
Gate City Bank $225,000 n/a 0.0%
Havana National Bank $225,000 n/a 0.0%
CARDINAL FINANCIAL $335,000 $220,000 -34.3% 0.0%
FIRST CENTENNIAL MORTGAGE CORPORATION $220,000 n/a 0.0%
MOVEMENT MORTGAGE, LLC $145,000 $210,000 44.8% 0.0%
CONSUMERS COOPERATIVE CREDIT UNION $205,000 n/a 0.0%
First Federal Bank $205,000 n/a 0.0%
HomeBank $200,000 n/a 0.0%
DUPACO COMMUNITY $135,000 $185,000 37.0% 0.0%
ENVOY MORTGAGE, LTD $185,000 n/a 0.0%
First Mid Bank & Trust $310,000 $185,000 -40.3% 0.0%
First State Bank of Forrest $175,000 $185,000 5.7% 0.0%
Simmons Bank $185,000 n/a 0.0%
University of Wisconsin Credit Union $75,000 $185,000 146.7% 0.0%
Flagstar Bank, FSB $2,305,000 $170,000 -92.6% 0.0%
ALLIED MORTGAGE GROUP, INC. $165,000 n/a 0.0%
ALAMEDA MORTGAGE CORPORATION $160,000 n/a 0.0%
Merchants Mortgage & Trust Corporation $160,000 n/a 0.0%
General Mortgage Capital Corporation $155,000 n/a 0.0%
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $230,000 $155,000 -32.6% 0.0%
TOP FLITE FINANCIAL, INC. $260,000 $145,000 -44.2% 0.0%
BAY-VALLEY MORTGAGE GROUP $135,000 n/a 0.0%
DELMAR FINANCIAL COMPANY $150,000 $135,000 -10.0% 0.0%
FRONTIER FINANCIAL, INC. $115,000 $135,000 17.4% 0.0%
GSF Mortgage Corporation $135,000 n/a 0.0%
LENDINGONE, LLC $135,000 n/a 0.0%
SUN WEST MORTGAGE COMPANY, INC. $135,000 n/a 0.0%
BMO Harris Bank $1,480,000 $130,000 -91.2% 0.0%
DECATUR EARTHMOVER CREDIT UNION $80,000 $130,000 62.5% 0.0%
ALLIANT CREDIT UNION $255,000 $125,000 -51.0% 0.0%
CREDIT UNION MORTGAGE ASSOCIATION, INC. $175,000 $125,000 -28.6% 0.0%
SPRING EQ, LLC $365,000 $125,000 -65.8% 0.0%
Holcomb Bank $115,000 n/a 0.0%
HOMESIDE FINANCIAL, LLC $380,000 $115,000 -69.7% 0.0%
LENDSURE MORTGAGE CORP. $115,000 n/a 0.0%
CITY-COUNTY CREDIT UNION $105,000 n/a 0.0%
Flanagan State Bank $105,000 n/a 0.0%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $100,000 n/a 0.0%
Bank of Hillsboro $95,000 n/a 0.0%
BETTER MORTGAGE CORPORATION $515,000 $95,000 -81.6% 0.0%
CHARTER WEST BANK $95,000 n/a 0.0%
Northpointe Bank $265,000 $95,000 -64.2% 0.0%
CONTOUR MORTGAGE CORPORATION $75,000 n/a 0.0%
EVANSVILLE TEACHERS $75,000 n/a 0.0%
Fortress Bank $75,000 n/a 0.0%
Home Loan Investment Bank, F.S.B. $75,000 n/a 0.0%
Illinois State Police Federal Credit Union $975,000 $75,000 -92.3% 0.0%
1ST MIDAMERICA $65,000 n/a 0.0%
Community Mortgage Banc Corporation $65,000 n/a 0.0%
MYCUMORTGAGE, LLC $65,000 n/a 0.0%
Nations Lending Corporation $770,000 $65,000 -91.6% 0.0%
Pike Bancorp $65,000 n/a 0.0%
AMERICAN FINANCING CORPORATION $415,000 $55,000 -86.7% 0.0%
Bank of O'Fallon $55,000 n/a 0.0%
GUARANTEED RATE AFFINITY, LLC $55,000 n/a 0.0%
I. H. MISSISSIPPI VALLEY CREDIT UNION $345,000 $55,000 -84.1% 0.0%
M&T Bank $35,000 $45,000 28.6% 0.0%
First Bank $115,000 $35,000 -69.6% 0.0%
FIRST COMMUNITY $25,000 n/a 0.0%
TOGETHER CREDIT UNION $25,000 n/a 0.0%
Centier Bank $15,000 n/a 0.0%
TRIAD FINANCIAL SERVICES, INC. $15,000 n/a 0.0%

SPRINGFIELD's top lender by overall market share is INB, with 13.3% market share. In second place, with 9.2%, is Bank of Springfield, having originated $57,320,000 in loans. In third place, with 8.2%, is United Community Bank, having originated $50,895,000 in loans. In fourth place, with 4.9%, is FLAT BRANCH MORTGAGE, INC., having originated $30,375,000 in loans. In fifth place, with 4.3%, is Heartland Bank and Trust Company, having originated $26,460,000 in loans.


SPRINGFIELD Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - SPRINGFIELD (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $136,950 (1.9%) $182,107 (0.5%) 0.51 829
2018-02-01 $137,500 (1.9%) $184,524 (0.7%) 0.50 831
2018-03-01 $139,900 (-0.7%) $189,588 (-3.4%) 0.49 875
2018-04-01 $144,900 (-3.3%) $192,321 (-4.1%) 0.49 886
2018-05-01 $144,650 (-7.8%) $192,476 (-8.4%) 0.48 940
2018-06-01 $143,900 (-10.0%) $195,637 (-7.6%) 0.48 1,027
2018-07-01 $140,900 (-9.1%) $192,657 (-5.1%) 0.47 1,065
2018-08-01 $144,900 (-4.9%) $191,130 (-4.6%) 0.49 1,055
2018-09-01 $149,900 (0.0%) $190,452 (-4.5%) 0.50 1,041
2018-10-01 $149,900 (0.8%) $193,627 (-0.1%) 0.51 997
2018-11-01 $149,700 (7.0%) $194,421 (4.8%) 0.51 951
2018-12-01 $139,900 (0.0%) $183,840 (2.1%) 0.48 867
2019-01-01 $136,950 (0.0%) $181,503 (-0.3%) 0.47 839
2019-02-01 $139,225 (1.3%) $182,700 (-1.0%) 0.47 831
2019-03-01 $142,471 (1.8%) $185,598 (-2.1%) 0.47 809
2019-04-01 $147,800 (2.0%) $193,868 (0.8%) 0.47 783
2019-05-01 $149,900 (3.6%) $198,267 (3.0%) 0.47 791
2019-06-01 $154,250 (7.2%) $198,332 (1.4%) 0.48 859
2019-07-01 $153,925 (9.2%) $197,056 (2.3%) 0.48 922
2019-08-01 $152,191 (5.0%) $195,923 (2.5%) 0.48 907
2019-09-01 $149,552 (-0.2%) $191,832 (0.7%) 0.48 868
2019-10-01 $147,500 (-1.6%) $189,301 (-2.2%) 0.48 844
2019-11-01 $139,900 (-6.6%) $181,831 (-6.5%) 0.46 817
2019-12-01 $131,375 (-6.1%) $174,626 (-5.0%) 0.44 733
2020-01-01 $131,200 (-4.2%) $177,365 (-2.3%) 0.44 672
2020-02-01 $133,000 (-4.5%) $182,486 (-0.1%) 0.44 651
2020-03-01 $147,975 (3.9%) $197,148 (6.2%) 0.46 617
2020-04-01 $149,950 (1.5%) $201,211 (3.8%) 0.47 613
2020-05-01 $144,900 (-3.3%) $200,964 (1.4%) 0.44 543
2020-06-01 $150,425 (-2.5%) $207,978 (4.9%) 0.44 540
2020-07-01 $152,400 (-1.0%) $206,062 (4.6%) 0.44 527
2020-08-01 $139,900 (-8.1%) $194,492 (-0.7%) 0.40 494
2020-09-01 $134,900 (-9.8%) $193,896 (1.1%) 0.39 453
2020-10-01 $124,700 (-15.5%) $179,027 (-5.4%) 0.36 440
2020-11-01 $113,300 (-19.0%) $167,143 (-8.1%) 0.33 437
2020-12-01 $102,400 (-22.1%) $155,419 (-11.0%) 0.30 401
2021-01-01 $99,900 (-23.9%) $156,968 (-11.5%) 0.30 335
2021-02-01 $98,200 (-26.2%) $156,389 (-14.3%) 0.29 285
2021-03-01 $99,900 (-32.5%) $168,588 (-14.5%) 0.28 237
2021-04-01 $99,825 (-33.4%) $179,571 (-10.8%) 0.27 220
2021-05-01 $110,000 (-24.1%) $194,730 (-3.1%) 0.29 218
2021-06-01 $124,400 (-17.3%) $202,841 (-2.5%) 0.33 264
2021-07-01 $129,900 (-14.8%) $211,187 (2.5%) 0.34 259
2021-08-01 $127,450 (-8.9%) $212,737 (9.4%) 0.34 274
2021-09-01 $124,900 (-7.4%) $197,930 (2.1%) 0.33 267
2021-10-01 $118,000 (-5.4%) $184,105 (2.8%) 0.31 267
2021-11-01 $108,075 (-4.6%) $172,594 (3.3%) 0.29 237
2021-12-01 $117,450 (14.7%) $173,805 (11.8%) 0.32 208
2022-01-01 $107,500 (7.6%) $175,743 (12.0%) 0.29 180
2022-02-01 $104,200 (6.1%) $179,084 (14.5%) 0.27 144
2022-03-01 $120,750 (20.9%) $210,377 (24.8%) 0.30 138
2022-04-01 $139,900 (40.2%) $226,506 (26.1%) 0.33 145
2022-05-01 $146,750 (33.4%) $257,527 (32.3%) 0.34 142
2022-06-01 $166,050 (33.5%) $249,691 (23.1%) 0.37 186
2022-07-01 $165,000 (27.0%) $256,210 (21.3%) 0.37 221
2022-08-01 $175,000 (37.3%) $256,117 (20.4%) 0.40 216
2022-09-01 $193,950 (55.3%) $271,496 (37.2%) 0.45 199
2022-10-01 $186,500 (58.1%) $250,575 (36.1%) 0.44 219
2022-11-01 $169,425 (56.8%) $229,425 (32.9%) 0.41 231
2022-12-01 $165,000 (40.5%) $232,606 (33.8%) 0.41 221
2023-01-01 $157,475 (46.5%) $232,968 (32.6%) 0.39 188
2023-02-01 $154,950 (48.7%) $236,733 (32.2%) 0.37 146
2023-03-01 $149,475 (23.8%) $236,979 (12.7%) 0.35 149
2023-04-01 $179,900 (28.6%) $251,032 (10.8%) 0.42 137
2023-05-01 $182,573 (24.4%) $266,066 (3.3%) 0.41 136
2023-06-01 $186,345 (12.2%) $277,081 (11.0%) 0.42 144
2023-07-01 $179,900 (9.0%) $267,720 (4.5%) 0.41 169
2023-08-01 $194,575 (11.2%) $276,310 (7.9%) 0.45 189
2023-09-01 $177,450 (-8.5%) $271,466 (0.0%) 0.41 194
2023-10-01 $172,475 (-7.5%) $260,745 (4.1%) 0.41 212
2023-11-01 $179,950 (6.2%) $259,775 (13.2%) 0.43 217
2023-12-01 $168,950 (2.4%) $246,610 (6.0%) 0.41 193
2024-01-01 $169,100 (7.4%) $251,057 (7.8%) 0.41 172
2024-02-01 $174,925 (12.9%) $253,375 (7.0%) 0.42 166
SPRINGFIELD's median listing price for 2024-02-01 was $174,925, a difference of $19,975 (12.9%) versus the prior year and $5,825 versus the prior month.

SPRINGFIELD's median listing price comes in at 42% of the national average.

SPRINGFIELD's average listing price for 2024-02-01 was $253,375, a difference of $16,642 (7.0%) versus the prior year and $2,318 versus the prior month.

For the 2024-02-01 period, SPRINGFIELD had 166 MLS listings, a difference of -6 listings (-3%) versus the prior month and 20 listings (14%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - SPRINGFIELD (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 89 days 1,730 sqft
2018-02-01 90 days 1,763 sqft
2018-03-01 68 days 1,800 sqft
2018-04-01 59 days 1,802 sqft
2018-05-01 58 days 1,800 sqft
2018-06-01 53 days 1,841 sqft
2018-07-01 57 days 1,815 sqft
2018-08-01 63 days 1,806 sqft
2018-09-01 69 days 1,810 sqft
2018-10-01 74 days 1,831 sqft
2018-11-01 76 days 1,827 sqft
2018-12-01 81 days 1,736 sqft
2019-01-01 89 days 1,700 sqft
2019-02-01 92 days 1,700 sqft
2019-03-01 69 days 1,748 sqft
2019-04-01 51 days 1,820 sqft
2019-05-01 51 days 1,855 sqft
2019-06-01 53 days 1,866 sqft
2019-07-01 56 days 1,893 sqft
2019-08-01 61 days 1,891 sqft
2019-09-01 65 days 1,875 sqft
2019-10-01 67 days 1,874 sqft
2019-11-01 70 days 1,824 sqft
2019-12-01 75 days 1,773 sqft
2020-01-01 84 days 1,750 sqft
2020-02-01 83 days 1,744 sqft
2020-03-01 67 days 1,794 sqft
2020-04-01 67 days 1,800 sqft
2020-05-01 65 days 1,770 sqft
2020-06-01 52 days 1,862 sqft
2020-07-01 50 days 1,821 sqft
2020-08-01 52 days 1,714 sqft
2020-09-01 52 days 1,742 sqft
2020-10-01 51 days 1,688 sqft
2020-11-01 51 days 1,570 sqft
2020-12-01 58 days 1,526 sqft
2021-01-01 68 days 1,482 sqft
2021-02-01 74 days 1,445 sqft
2021-03-01 63 days 1,437 sqft
2021-04-01 39 days 1,421 sqft
2021-05-01 30 days 1,500 sqft
2021-06-01 31 days 1,559 sqft
2021-07-01 38 days 1,685 sqft
2021-08-01 31 days 1,676 sqft
2021-09-01 39 days 1,622 sqft
2021-10-01 39 days 1,602 sqft
2021-11-01 45 days 1,578 sqft
2021-12-01 50 days 1,631 sqft
2022-01-01 64 days 1,543 sqft
2022-02-01 46 days 1,562 sqft
2022-03-01 34 days 1,533 sqft
2022-04-01 26 days 1,607 sqft
2022-05-01 27 days 1,685 sqft
2022-06-01 36 days 1,721 sqft
2022-07-01 35 days 1,685 sqft
2022-08-01 42 days 1,749 sqft
2022-09-01 42 days 1,778 sqft
2022-10-01 39 days 1,784 sqft
2022-11-01 39 days 1,740 sqft
2022-12-01 45 days 1,710 sqft
2023-01-01 56 days 1,649 sqft
2023-02-01 54 days 1,662 sqft
2023-03-01 46 days 1,689 sqft
2023-04-01 39 days 1,700 sqft
2023-05-01 37 days 1,733 sqft
2023-06-01 37 days 1,787 sqft
2023-07-01 36 days 1,808 sqft
2023-08-01 33 days 1,882 sqft
2023-09-01 38 days 1,859 sqft
2023-10-01 40 days 1,844 sqft
2023-11-01 40 days 1,794 sqft
2023-12-01 49 days 1,741 sqft
2024-01-01 52 days 1,745 sqft
2024-02-01 43 days 1,759 sqft
SPRINGFIELD's median listing age (time on market) for 2024-02-01 was 43 days. This is -20% shorter than the same period one year ago.

SPRINGFIELD's median square footage for active listings during the 2024-02-01 period was 1,759 sqft. One year prior, the average listing was 1,662 sqft.

SPRINGFIELD, IL Average Rent (2023)

Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
62515 Springfield, IL MSA $680 $820 $1,010 $1,320 $1,390
62520 Springfield, IL MSA $680 $830 $1,020 $1,340 $1,400
62530 Springfield, IL MSA $620 $760 $930 $1,220 $1,280
62536 Springfield, IL MSA $680 $820 $1,010 $1,330 $1,390
62539 Springfield, IL MSA $580 $710 $870 $1,140 $1,200
62545 Springfield, IL MSA $530 $650 $800 $1,050 $1,100
62548 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62558 Springfield, IL MSA $630 $760 $940 $1,230 $1,290
62561 Springfield, IL MSA $630 $760 $940 $1,230 $1,290
62563 Springfield, IL MSA $770 $940 $1,150 $1,510 $1,580
62612 Springfield, IL MSA $590 $720 $890 $1,160 $1,220
62613 Springfield, IL MSA $620 $760 $930 $1,220 $1,280
62615 Springfield, IL MSA $620 $750 $920 $1,210 $1,270
62625 Springfield, IL MSA $600 $730 $900 $1,180 $1,240
62629 Springfield, IL MSA $760 $930 $1,140 $1,490 $1,570
62642 Springfield, IL MSA $580 $700 $860 $1,130 $1,180
62659 Springfield, IL MSA $580 $700 $860 $1,130 $1,180
62661 Springfield, IL MSA $560 $680 $840 $1,100 $1,160
62666 Springfield, IL MSA $530 $640 $790 $1,040 $1,090
62670 Springfield, IL MSA $560 $680 $840 $1,100 $1,160
62673 Springfield, IL MSA $520 $630 $770 $1,020 $1,080
62675 Springfield, IL MSA $560 $680 $840 $1,100 $1,160
62677 Springfield, IL MSA $520 $630 $770 $1,020 $1,080
62684 Springfield, IL MSA $680 $820 $1,010 $1,320 $1,390
62688 Springfield, IL MSA $550 $670 $820 $1,070 $1,130
62689 Springfield, IL MSA $520 $630 $780 $1,020 $1,070
62690 Springfield, IL MSA $580 $620 $770 $1,040 $1,150
62692 Springfield, IL MSA $520 $630 $770 $1,020 $1,080
62693 Springfield, IL MSA $580 $710 $870 $1,140 $1,200
62701 Springfield, IL MSA $770 $940 $1,150 $1,510 $1,580
62702 Springfield, IL MSA $620 $750 $920 $1,210 $1,270
62703 Springfield, IL MSA $600 $730 $900 $1,180 $1,240
62704 Springfield, IL MSA $620 $760 $930 $1,220 $1,280
62705 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62706 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62707 Springfield, IL MSA $600 $730 $900 $1,180 $1,240
62708 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62711 Springfield, IL MSA $720 $880 $1,080 $1,420 $1,490
62712 Springfield, IL MSA $640 $780 $960 $1,260 $1,320
62716 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62719 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62726 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62736 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62756 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62764 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62776 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62781 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62791 Springfield, IL MSA $610 $740 $910 $1,190 $1,250
62796 Springfield, IL MSA $610 $740 $910 $1,190 $1,250

2022 Average & Median Rent Data Statistics
SPRINGFIELD, IL average 1BR rent: $741, median: $740
SPRINGFIELD, IL average 2BR rent: $911, median: $910
SPRINGFIELD, IL average 3BR rent: $1,194, median: $1,190

SPRINGFIELD, IL Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 2,627 $485,865,000 $184,951
Refi 515 $58,555,000 $113,699
Cash Out Refi 303 $42,815,000 $141,304
Home Improvement 267 $19,105,000 $71,554
Other 257 $15,475,000 $60,214

Springfield's most frequently cited loan purpose was Home Purchase, with 2,627 originations. The 2nd most popular reason was Refi, with 515 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 1,491 $259,455,000 $174,014
7-8% 941 $147,065,000 $156,286
5-6% 474 $89,470,000 $188,755
Over 8% 398 $42,710,000 $107,312
4-5% 139 $9,535,000 $68,597
<2.5% 20 $250,000 $12,500
3-4% 5 $445,000 $89,000
2.5-3% 1 $195,000 $195,000

During 2023, Springfield's most frequently originated rate bucket was 6-7%, with 1,491 originations.

Loan Sizing (SPRINGFIELD, IL MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 1,654 $90,590,000 $54,770
$100k-200k 1,403 $200,065,000 $142,598
$200k-400k 752 $203,630,000 $270,785
$400k-600k 114 $53,020,000 $465,088
$600k-1000k 34 $24,840,000 $730,588
$Over $1MM 12 $49,670,000 $4,139,167

SPRINGFIELD's loan sizing saw the bucket of loans from $100,000 or less with 1,654 originations, totaling $90,590,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 1,606 $290,850,000 $181,102
60-80% 758 $153,940,000 $203,087
Under 20% 415 $18,755,000 $45,193
20-40% 369 $30,425,000 $82,453
40-60% 286 $46,680,000 $163,217
Over 100% 28 $7,440,000 $265,714

SPRINGFIELD's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,606 originations, totaling $290,850,000 in origination value.