Bay, Springfield, MA—01109
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bay, Springfield, MA
As of Oct '25, the median home price in Bay, Springfield, MA is $267,000, with a year-over-year change of 2.8%. This indicates that home prices in Bay, Springfield, MA are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $267,000 | 2.8% |
| Single Family | $267,000 | 2.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $241,000 | 3.4% |
3 Bed | $269,000 | 2.3% |
4 Bed | $276,000 | 3.0% |
| 5 Bed | $297,000 | 3.8% |
% of Housing Stock
Rental Trends — Bay, Springfield, MA
As of July '25, Rentcast reports the average rent in Bay, Springfield, MA is $1,900, with a year-over-year rent change of 17.3%. Per bedroom, the median rent as of July '25 in Bay, Springfield, MA is 1-bedrooms: $1,060, 2-bedrooms: $1,580, 3-bedrooms: $2,130, 4-bedrooms: $2,950. The most common rental property sizes in Bay, Springfield, MA are 2-bedroom and 3-bedroom, accounting for 34.9% and 27.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,900 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $975 | $1,060 |
| 2 Bed Rent | $1,550 | $1,580 |
| 3 Bed Rent | $2,000 | $2,130 |
| 4 Bed Rent | $2,900 | $2,950 |
% of Rental Stock
Property Listings — Bay, Springfield, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Bay, Springfield, MA is 48. This is a increase of 52.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 48.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $314,000 | 7.0% |
Listing Count | 33 | 2.0% |
| Listings as % of Homes | 0.2% | 2.0% |
Days on Market | 48 | 52.0% |
Demographics — Bay, Springfield, MA
As of the latest ACS Survey released in 2023, Bay, Springfield, MA has a population of 31,400, which has increased by 5.1% over the past 5 years. Bay, Springfield, MA is a moderately popular place for families, as children make up 23.7% of the population. The area has a poorly educated workforce, with 17.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,400 | 5.1% |
% Under 18 | 23.7% | -0.4% |
% Seniors | 11.7% | 10.4% |
% WFH | 7.9% | 102.6% |
% w/ College Degree | 17.3% | 10.2% |
As of the latest ACS Survey released in 2023, Bay, Springfield, MA is a predominantly hispanic area, with 45.4% of the population identifying as hispanic. The hispanic population has grown by 13.8% in the last 5 years. The second most common race or ethnicity in Bay, Springfield, MA is black, making up 33.4% of the population. Foreign-born residents account for 9.0% of the population in Bay, Springfield, MA, and this percentage has decreased by 18.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 17.8% | -15.6% |
% Black | 33.4% | -12.3% |
% Hispanic | 45.4% | 13.8% |
% Asian | 1.4% | 27.3% |
% Foreign Born | 9.0% | -18.2% |
Mortgage and Risk — Bay, Springfield, MA
According to HUD data as of 2023, there were 415 mortgage originations in Bay, Springfield, MA, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Bay, Springfield, MA. Investor activity is low, as 4.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 415 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Bay, Springfield, MA
As of 2024, the percent of homes in Bay, Springfield, MA under the Section 8 program is 33.8%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Bay, Springfield, MA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,315 |
Total Units Section 8 | 1,792 |
% Rentals under Section 8 | 33.8% |
% Occupied Section 8 | 87.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $255 | $975 | $1,230 |
| 2 Bedroom | -$20 | $1,550 | $1,530 |
| 3 Bedroom | -$140 | $2,000 | $1,860 |
| 4 Bedroom | -$820 | $2,900 | $2,080 |
Affordability — Bay, Springfield, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $267,000 |
| Median Household Income | $46,800 |