Is Springfield, IL a good place to invest in rental property?

Springfield, IL has a median modeled monthly cash flow of $-67 and a median cap rate of 5.8%, on a median sold price of $173,000. Prices changed +6.9% year over year.

What is the average cap rate in Springfield, IL?

The median cap rate across recently sold homes in Springfield, IL is 5.8%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Springfield, IL?

The median sold price in Springfield, IL is $173,000 (about $108 per square foot).

Investing in Springfield, IL Real Estate

A data-driven snapshot of the Springfield, IL rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$173,000Median sold price

$108Median $/sqft

5.8%Median cap rate

$-67Modeled cash flow / mo

+6.9%Appreciation YoY

10.0Months of supply

1,184Active listings

1,424Sold (last 12 mo)

What the Springfield numbers say

In Springfield, IL, the median home sold for $173,000 (about $108 per square foot), and the typical deal models out to a 5.8% cap rate with a median $-67 of monthly cash flow. Sold prices moved +6.9% over the past year. Inventory sits at about 10.0 months of supply — a looser, buyer-friendly market. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Illinois markets to compare

See Springfield cash-flowing listings

CashFlowRE ranks every for-sale home in Springfield, IL by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Springfield deals, or browse the national market data.