Springfield Gardens, New York, NY—11413
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Springfield Gardens, New York, NY
As of Oct '25, the median home price in Springfield Gardens, New York, NY is $711,000, with a year-over-year change of 3.2%. This indicates that home prices in Springfield Gardens, New York, NY are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $711,000 | 3.2% |
| Single Family | $711,000 | 3.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $667,000 | 1.2% |
3 Bed | $720,000 | 2.6% |
4 Bed | $779,000 | 1.0% |
| 5 Bed | $879,000 | 5.5% |
% of Housing Stock
Rental Trends — Springfield Gardens, New York, NY
As of July '25, Rentcast reports the average rent in Springfield Gardens, New York, NY is $3,200, with a year-over-year rent change of 17.2%. Per bedroom, the median rent as of July '25 in Springfield Gardens, New York, NY is studios: $1,750, 1-bedrooms: $1,960, 2-bedrooms: $2,760, 3-bedrooms: $3,330, 4-bedrooms: $4,230. The most common rental property sizes in Springfield Gardens, New York, NY are 3-bedroom and 2-bedroom, accounting for 49.0% and 33.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,500 | $3,200 |
| Studio Rent | $1,750 | $1,750 |
| 1 Bed Rent | $2,000 | $1,960 |
| 2 Bed Rent | $2,800 | $2,760 |
| 3 Bed Rent | $3,500 | $3,330 |
| 4 Bed Rent | $4,050 | $4,230 |
% of Rental Stock
Property Listings — Springfield Gardens, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Springfield Gardens, New York, NY is 56. This is a decrease of -16.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $717,000 | 7.0% |
Listing Count | 98 | 17.0% |
| Listings as % of Homes | 0.7% | 17.0% |
Days on Market | 56 | -16.0% |
Demographics — Springfield Gardens, New York, NY
As of the latest ACS Survey released in 2023, Springfield Gardens, New York, NY has a population of 45,100, which has increased by 6.2% over the past 5 years. Springfield Gardens, New York, NY is a moderately popular place for families, as children make up 20.9% of the population. The area has a moderately educated workforce, with 29.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,100 | 6.2% |
% Under 18 | 20.9% | -3.7% |
% Seniors | 14.6% | -10.4% |
% WFH | 10.8% | 414.3% |
% w/ College Degree | 29.5% | 11.7% |
As of the latest ACS Survey released in 2023, Springfield Gardens, New York, NY is a predominantly black area, with 85.6% of the population identifying as black. The black population has shrunk by 7.1% in the last 5 years. The second most common race or ethnicity in Springfield Gardens, New York, NY is hispanic, making up 8.7% of the population. Foreign-born residents account for 39.5% of the population in Springfield Gardens, New York, NY, and this percentage has increased by 3.7% 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 | 1.2% | -20.0% |
% Black | 85.6% | -7.1% |
% Hispanic | 8.7% | 77.6% |
% Asian | 1.6% | 45.5% |
% Foreign Born | 39.5% | 3.7% |
Mortgage and Risk — Springfield Gardens, New York, NY
According to HUD data as of 2023, there were 292 mortgage originations in Springfield Gardens, New York, NY, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Springfield Gardens, New York, NY. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 292 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Springfield Gardens, New York, NY
As of 2024, the percent of homes in Springfield Gardens, New York, NY under the Section 8 program is 6.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Springfield Gardens, New York, NY, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 255 |
Total Units Section 8 | 244 |
% Rentals under Section 8 | 6.3% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $720 | $2,000 | $2,720 |
| 2 Bedroom | $210 | $2,800 | $3,010 |
| 3 Bedroom | $250 | $3,500 | $3,750 |
| 4 Bedroom | $0 | $4,050 | $4,050 |
Affordability — Springfield Gardens, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $711,000 |
| Median Household Income | $115,000 |