The story of this market
The typical home in ZIP 62707 sells for about $235,000, or $115 per square foot.
Prices are up +7.2% from a year ago, so sellers still have some momentum. Homes take about 25 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $953 a month.
ZIP 62707 — Springfield
The 62707 housing market is characterized by moderate price growth and a competitive environment for buyers. While the median price is higher than the broader Springfield metro, investors face challenges regarding vacancy and long-term yield stability.
This ZIP is best suited for investors who specialize in managing rental properties, as the market requires careful attention to vacancy and maintenance costs rather than simple appreciation.
Median prices moved up 7.2% year over year.
Homes spend a median of 25 days on market with 1.3 months of supply — a fast-moving market.
3% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.5% · poverty 9.1% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 62707, Sangamon County IL
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Illinois) — Property Tax Assessment (Fair Cash Value): Property is assessed at 33 1/3% of its fair cash value. The tax bill is calculated by multiplying the equalized assessed value (EAV) by the aggregate tax rate of the local taxing districts.
The rental market in 62707 shows signs of vacancy pressure and tenant stability concerns, with a modeled rent of $1,035 per month.
The Springfield economy is anchored by state government, healthcare, and education sectors.
Data retrieved from US Census Bureau ZCTA-level tables.
- Knight's Action Park4.28.9 mi
- Malibu Jack's Springfield4.77.5 mi
- Sky Zone Trampoline Park4.38.7 mi
- BounceTag4.58.5 mi
- Chuck E. Cheese3.96.6 mi
- Illinois State Fairground4.52.6 mi
- Golden Corral Buffet & Grill4.28.5 mi
- Bank of Springfield Center4.44.6 mi
- Knight's Action Park4.28.9 mi
- Malibu Jack's Springfield4.77.5 mi
- Lincoln Home National Historic Site4.84.9 mi
- Knight's Action Park4.28.9 mi
- Lincoln's New Salem State Historic Site4.712.8 mi
- Malibu Jack's Springfield4.77.5 mi
- AMC Springfield 124.28.8 mi
- Lincoln Home National Historic Site4.84.9 mi
- Abraham Lincoln Presidential Library and Museum4.84.5 mi
- Lincoln's New Salem State Historic Site4.712.8 mi
- Illinois State Museum4.64.9 mi
- Dana-Thomas House State Historic Site4.85.1 mi
- Lincoln's New Salem State Historic Site4.712.8 mi
- Washington Park4.75.6 mi
- Southwind Park4.79.6 mi
- Lincoln Memorial Garden and Nature Center4.812.2 mi
- Henson Robinson Zoo4.210.4 mi
- Island Bay Yacht Club4.711.3 mi
- The Rail Golf Course4.41.9 mi
- Long Bridge Golf Course4.51.2 mi
- Illini Country Club4.66 mi
- Piper Glen Golf & Social Club4.412 mi
- Lincoln Greens Golf Course4.19.1 mi
- White Oaks Mall3.97.4 mi
- Meijer4.39.3 mi
- Hy-Vee Grocery Store4.56.4 mi
- Humphrey's Market4.86 mi
- Kohl's4.17.6 mi
- Abraham Lincoln Capital Airport4.11.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.