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Springfield, IL Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,116
Monthly Cash Flow
-$232
Principal + Equity
$568
Annual Total Gain
$4,036
Cash on Cash
-6.84%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$130
Occupancy Rate
66.67%
Monthly Revenue
$1,784
Monthly Cash Flow
$169
Principal + Equity
$568
Annual Total Gain
$8,840
Cash on Cash %
4.98%
Net ROI %
Market Health & Growth
Median Income
$65,537
Population
113,714
LTR Renter %
36.55%
Forecast (1 yr)
0.58%
Appreciation (1 yr)
6.39%
Appreciation (5 yr)
25.94%
Appreciation (10 yr)
37.97%
Job Growth
-1.66%
LTR Rentability
Moderate
STR Demand
84
STR Rentals
260
Top Public Schools
BSherman Elementary School
BGlenwood High School
B
B
B
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Best Cities to Retire in America
#58out of 229 markets
Best Cities to Buy a House in America
#20out of 229 markets
Cities with the Lowest Cost of Living in America
#8out of 229 markets
B-
Public School
D
Crime And Safety
B-
Housing
B
Nightlife
B-
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Springfield, IL.
As of September 2021, Springfield, IL does not have specific regulations in place for short term rentals (STRs). However, it is important for investors to be aware that the city may choose to implement regulations in the future.
Investors should also be aware of any homeowners association (HOA) rules or restrictions that may prohibit or limit short term rentals in certain neighborhoods or developments. It is important to thoroughly research and understand any potential restrictions before purchasing a property for use as a short term rental.
Additionally, investors should consider the potential impact of local zoning laws on short term rentals. Zoning regulations may restrict the use of a property for short term rentals in certain areas of the city.
Overall, investors should conduct thorough due diligence and research on the current regulations and potential future changes related to short term rentals in Springfield, IL before making an investment in a property for this purpose.
Market Trends Over Time
Explore 25 years of market data for Springfield, IL, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Springfield, IL.
The LTR Genie Score of Springfield, IL is 46 and STR Genie Score is 58, indicating a moderate rentability for long-term rentals and a high rentability for short-term rentals. The LTR Rent Growth Rate of 0.0% suggests stable rental prices in the long-term market, while the STR Net ROI of 21.75% is significantly higher than the LTR Net ROI of 9.93%. This could be due to the higher revenue and occupancy rate for short-term rentals.
Springfield, IL is the capital of Illinois and is known for its historical significance, including being the hometown of Abraham Lincoln. The city has a diverse economy with government, healthcare, and education sectors driving employment opportunities.
Based on the metrics provided, Springfield, IL appears to be more attractive for short-term rental investment due to the higher Genie Score, Net ROI, and occupancy rate compared to long-term rentals. Investors may find better returns and potential for growth in the short-term rental market in this area. However, it is always recommended to conduct thorough market research and analysis before making any investment decisions.
LTR Genie Score 93
$234,900
🛏 4 Beds🛁 3.0000 Baths🏙 2,170 sqft.🏠 SINGLE FAMILY
