Springfield Illinois Residential Rent and Rental Statistics
The median monthly gross residential rent in Springfield, IL (the Springfield metro area) was $809 in 2019 according to the Census ACS survey.1 Average gross rent in Springfield was $800 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Springfield median and average rent data will be released in September of 2021.
Data is also available below for Springfield rental vacancy rates, Springfield rent as a percent of median income and the fraction of renters in Springfield.
Real Gross Rent in Springfield Illinois (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Illinois Median Gross Rent | $1,020 | +0.69% | +2.51% |
| Springfield, IL Median Gross Rent | $809 | -4.26% | +2.02% |
Springfield, IL Real Gross Rent Trends
Median gross rent for Springfield peaked in real terms in 2018 at $845 and is now $36 (4.26%) lower. Average gross rent for Springfield peaked in real terms in 2018 at $850 and is now $50 (5.88%) lower.
Real Gross Rent in Springfield: Springfield IL Median, Springfield IL Average, Illinois Median, US Median
Real Gross Rent History for Springfield
| Date | US Median |
Illinois Median |
Springfield, IL Median |
Springfield, IL Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,020 | $809 | $800 |
| 2018 | $1,077 | $1,013 | $845 | $850 |
| 2017 | $1,043 | $1,004 | $829 | $828 |
| 2016 | $1,027 | $995 | $793 | $802 |
| 2015 | $1,017 | $993 | $793 | $797 |
| 2014 | $986 | $955 | $781 | $790 |
| 2013 | $953 | $932 | $780 | $747 |
| 2012 | $940 | $923 | $749 | $737 |
| 2011 | $941 | $928 | $774 | $755 |
| 2010 | $955 | $948 | $742 | $724 |
| 2009 | $960 | $944 | $778 | $772 |
| 2007 | $927 | $920 | $757 | $764 |
| 2005 | $910 | $918 | $681 | $674 |
Springfield Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Springfield Illinois was 6.81% according to Census ACS data.
Rental Vacancy Rate in Springfield Illinois
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Illinois | 5.65% | -0.67% | -0.36% |
| Springfield, IL | — | — | — |
Trends in Springfield, IL Rental Vacancy Rate
The rental vacancy rate in Springfield peaked in 2006 at 12.08%. Since then it has fallen by 5.27% to 6.81%. Data records for this series originated in 2005. From a 2014 post peak low of 3.03%, the rental vacancy rate has increased by 3.78%.
Rental Vacancy Rate: Springfield IL, Illinois, US
Historical Rental Vacancy Rate data for Springfield
| Date | US | Illinois | Springfield, IL |
|---|---|---|---|
| 2019 | 5.97% | 5.65% | — |
| 2018 | 6.15% | 6.32% | 6.81% |
| 2017 | 6.18% | 7.02% | 3.35% |
| 2016 | 5.89% | 6.01% | 7.74% |
| 2015 | 5.85% | 6.21% | 4.75% |
| 2014 | 6.32% | 6.53% | 3.03% |
| 2013 | 6.49% | 6.16% | 3.50% |
| 2012 | 6.77% | 6.39% | 4.20% |
| 2011 | 7.40% | 7.35% | 4.85% |
| 2010 | 8.17% | 7.66% | 4.50% |
| 2009 | 8.43% | 7.84% | 10.75% |
| 2007 | 7.87% | 7.69% | 4.54% |
| 2005 | 7.74% | 9.45% | 7.92% |
Rent as a Fraction of Income
Using median household income data for Springfield, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Springfield, median monthly gross rent as a fraction of median household income was 15.61% in 2019 according to the ACS.
Springfield Illinois Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Illinois | 17.69% | -0.67% | -1.01% |
| Springfield, IL | 15.61% | -0.07% | -1.28% |
Trends in Springfield, IL Rent as a Fraction of Income
The fraction of median Springfield household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 16.89%. Since then it has fallen by 1.28% to 15.61%.
Fraction of Income towards Rent: Springfield IL, Illinois, US
Historical Data for Annual Rent as a Fraction of Income in Springfield Illinois
| Date | US | Illinois | Springfield, IL |
|---|---|---|---|
| 2019 | 20.03% | 17.69% | 15.61% |
| 2018 | 20.50% | 18.36% | 15.68% |
| 2017 | 20.13% | 18.55% | 15.67% |
| 2016 | 20.43% | 18.70% | 16.89% |
| 2015 | 20.63% | 18.85% | 15.52% |
| 2014 | 20.89% | 18.91% | 16.14% |
| 2013 | 20.78% | 18.89% | 16.06% |
| 2012 | 20.65% | 18.89% | 15.19% |
| 2011 | 20.70% | 19.36% | 16.78% |
| 2010 | 20.50% | 19.21% | 15.80% |
| 2009 | 20.12% | 18.41% | 15.57% |
| 2007 | 18.66% | 17.36% | 16.11% |
| 2005 | 18.89% | 17.52% | 14.10% |
Renter Fraction in Springfield Illinois
You can calculate the renter fraction in Springfield in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Springfield as a fraction of total Springfield households. In 2019 32.54% of households were renters according to Census ACS data.
Springfield Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Illinois | 33.99% | -0.02% | -0.75% |
| Springfield, IL | 32.54% | +1.16% | +3.11% |
Trends in the Springfield, IL Renter Fraction
At 32.54%, the 2019 household based renter fraction in Springfield was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Springfield IL, Illinois, US
History of Springfield Renter Fraction
| Date | US | Illinois | Springfield, IL |
|---|---|---|---|
| 2019 | 35.89% | 33.99% | 32.54% |
| 2018 | 36.05% | 34.01% | 31.38% |
| 2017 | 36.13% | 33.82% | 29.31% |
| 2016 | 36.88% | 34.74% | 29.43% |
| 2015 | 36.97% | 34.72% | 31.71% |
| 2014 | 36.90% | 34.51% | 31.73% |
| 2013 | 36.50% | 34.06% | 30.02% |
| 2012 | 36.09% | 33.40% | 28.94% |
| 2011 | 35.42% | 32.65% | 29.13% |
| 2010 | 34.65% | 32.27% | 30.53% |
| 2009 | 34.13% | 32.00% | 29.78% |
| 2007 | 32.80% | 29.94% | 28.92% |
| 2005 | 33.10% | 30.13% | 28.05% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
Here's where you are
- Home
- / Rent
- / Illinois
- / Springfield
