East Forest Park, Springfield, MA—01118
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — East Forest Park, Springfield, MA
As of Oct '25, the median home price in East Forest Park, Springfield, MA is $311,000, with a year-over-year change of 2.0%. This indicates that home prices in East Forest Park, 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 | $311,000 | 2.0% |
| Single Family | $312,000 | 1.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $278,000 | 1.5% |
3 Bed | $315,000 | 1.6% |
4 Bed | $337,000 | 1.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — East Forest Park, Springfield, MA
As of July '25, Rentcast reports the average rent in East Forest Park, Springfield, MA is $2,010, with a year-over-year rent change of -5.6%. Per bedroom, the median rent as of July '25 in East Forest Park, Springfield, MA is 2-bedrooms: $1,300, 3-bedrooms: $2,320. The most common rental property sizes in East Forest Park, Springfield, MA are 2-bedroom and 3-bedroom, accounting for 50.0% and 38.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,010 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $900 | $1,300 |
| 3 Bed Rent | $2,250 | $2,320 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — East Forest Park, Springfield, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in East Forest Park, Springfield, MA is 24. This is a increase of 19.0% 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 47.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $320,000 | 4.0% |
Listing Count | 30 | 10.0% |
| Listings as % of Homes | 0.3% | 10.0% |
Days on Market | 24 | 19.0% |
Demographics — East Forest Park, Springfield, MA
As of the latest ACS Survey released in 2023, East Forest Park, Springfield, MA has a population of 15,000, which has remained stable by 0.2% over the past 5 years. East Forest Park, Springfield, MA is a moderately popular place for families, as children make up 22.7% of the population. The area has a moderately educated workforce, with 30.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,000 | 0.2% |
% Under 18 | 22.7% | -6.2% |
% Seniors | 13.6% | -16.0% |
% WFH | 9.0% | 233.3% |
% w/ College Degree | 30.1% | -7.7% |
As of the latest ACS Survey released in 2023, East Forest Park, Springfield, MA is a predominantly white area, with 55.5% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in East Forest Park, Springfield, MA is hispanic, making up 23.0% of the population. Foreign-born residents account for 8.4% of the population in East Forest Park, Springfield, MA, and this percentage has increased by 5.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 55.5% | -2.5% |
% Black | 15.4% | -9.9% |
% Hispanic | 23.0% | 10.0% |
% Asian | 4.2% | 2.4% |
% Foreign Born | 8.4% | 5.0% |
Mortgage and Risk — East Forest Park, Springfield, MA
According to HUD data as of 2023, there were 394 mortgage originations in East Forest Park, Springfield, MA, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in East Forest Park, Springfield, MA. Investor activity is low, as 2.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 394 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — East Forest Park, Springfield, MA
East Forest Park, Springfield, MA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 569 |
Total Units Section 8 | 565 |
% Rentals under Section 8 | 47.4% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,360 |
| 2 Bedroom | $790 | $900 | $1,690 |
| 3 Bedroom | -$190 | $2,250 | $2,060 |
| 4 Bedroom | N/A | N/A | $2,300 |
Affordability — East Forest Park, Springfield, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $311,000 |
| Median Household Income | $80,900 |