Cost of Living in Springfield, MA

With a cost of living index of 86, Springfield, MA is a very affordable place to live. Living here is 14% cheaper than the national average and 43% below the Massachusetts state average of 129. As a major city with a population of 154,751, Springfield offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Springfield's cost of living. The median monthly rent is $1,114 (16% below the US median of $1,319), and the median home value sits at $222,700 (27% below the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Springfield is $51,339, which is 32% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Springfield. The area sees an average annual temperature of 49.4°F, with summers averaging 70°F and winters around 28°F. Annual rainfall totals 45.2 inches spread over roughly 137 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Springfield, MA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.