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Springfield Twp, VA Homes for Sale 100K – 200K
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SPRINGFIELD TWP VA HOUSING MARKET INFORMATION
With 32,053 people, 10,139 houses or apartments, and a median cost of homes of $516,672, Springfield house prices are not only among the most expensive in Virginia, Springfield real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Springfield, accounting for 51.48% of the town’s housing units. Other types of housing that are prevalent in Springfield include large apartment complexes or high rise apartments ( 32.77%), row houses and other attached homes ( 14.99%).
The most prevalent building size and type in Springfield are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.16% owning and 37.84% renting.
There is a lot of housing in Springfield built from 1970 to 1999 so parts of town may have that “Brady Bunch” look of homes popular in the ’70s and early ’80s, although some of these houses were built up through the early ’90s as well. There is also a lot of housing in Springfield built between 1940-1969 ( 41.12%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.91%).
SPRINGFIELD HOME APPRECIATION RATES
In the last 10 years, Springfield has experienced some of the highest home appreciation rates of any community in the nation. Springfield real estate appreciated 53.30% over the last ten years, which is an average annual home appreciation rate of 4.36%, putting Springfield in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Springfield definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout’s data show that during the latest twelve months, Springfield’s appreciation rate, at 5.10%, has been at or slightly above the national average. In the latest quarter, Springfield’s appreciation rate has been 0.77%, which annualizes to a rate of 3.11%.
Relative to Virginia, our data show that Springfield’s latest annual appreciation rate is higher than 60% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Springfield differ in their investment potential, sometimes by a great deal. Information brought to you by: https://www.neighborhoodscout.com/va/springfield/real-estate#description
LIVING IN SPRINGFIELD
Springfield is a medium-sized town located in the state of Virginia. With a population of 32,053 people and 24 constituent neighborhoods, Springfield is the 32nd largest community in Virginia.
Springfield home prices are not only among the most expensive in Virginia, but Springfield real estate also consistently ranks among the most expensive in America.
Unlike some towns where white-collar or blue-collar occupations dominate the local economy, Springfield is neither predominantly one nor the other. Instead, it has a mixed workforce of both white- and blue-collar jobs. Overall, Springfield is a town of service providers, professionals, and sales and office workers. There are especially a lot of people living in Springfield who work in management occupations (11.38%), office and administrative support (9.87%), and sales jobs (9.34%).
Also of interest is that Springfield has more people living here who work in computers and math than 95% of the places in the US.
In Springfield, however, the average commute to work is quite long. On average, people spend 31.93 minutes each day getting to work, which is significantly higher than the national average. One bright side is that local public transit is widely used, so it may be an option to avoid the headache of driving in the heavy traffic by leaving the car at home and taking transit.
For the size of the town, public transportation in Springfield is quite heavily used. Mostly, people who use it for their daily commute are taking the subway. For Springfield, the benefits are reduced air pollution and congestion on the highways.
Springfield is one of the most well-educated cities in the nation. 43.51% of adults in Springfield have at least a bachelor’s degree. Compare that to the average community in America, which has just 21.84% with a bachelor’s degree or higher.
The per capita income in Springfield in 2010 was $38,921, which is wealthy relative to Virginia and the nation. This equates to an annual income of $155,684 for a family of four. However, Springfield contains both very wealthy and poor people as well.
Springfield is an extremely ethnically-diverse town. The people who call Springfield home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Springfield residents report their race to be White, followed by Asian. Springfield also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 22.49% of the town’s residents. Important ancestries of people in Springfield include German, Irish, English, Ethiopian, and Afghan.
In addition, Springfield has a lot of people living here who were born outside of the US (42.39%).
The most common language spoken in Springfield is English. Other important languages spoken here include Spanish and Vietnamese.
Information Brought to you by: https://www.neighborhoodscout.com/va/springfield