Liberty Heights, Springfield, MA—01104
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Liberty Heights, Springfield, MA
As of Oct '25, the median home price in Liberty Heights, Springfield, MA is $278,000, with a year-over-year change of 1.3%. This indicates that home prices in Liberty Heights, Springfield, MA are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $278,000 | 1.3% |
| Single Family | $278,000 | 1.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $251,000 | 0.8% |
3 Bed | $281,000 | 1.1% |
4 Bed | $299,000 | 1.7% |
| 5 Bed | $324,000 | 1.2% |
% of Housing Stock
Rental Trends — Liberty Heights, Springfield, MA
As of July '25, Rentcast reports the average rent in Liberty Heights, Springfield, MA is $1,690, with a year-over-year rent change of 1.2%. Per bedroom, the median rent as of July '25 in Liberty Heights, Springfield, MA is 1-bedrooms: $1,090, 2-bedrooms: $1,690, 3-bedrooms: $2,200, 4-bedrooms: $2,400. The most common rental property sizes in Liberty Heights, Springfield, MA are 2-bedroom and 1-bedroom, accounting for 36.2% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,690 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $995 | $1,090 |
| 2 Bed Rent | $1,600 | $1,690 |
| 3 Bed Rent | $2,350 | $2,200 |
| 4 Bed Rent | $2,300 | $2,400 |
% of Rental Stock
Property Listings — Liberty Heights, Springfield, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Liberty Heights, Springfield, MA is 47. This is a increase of 68.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $300,000 | 2.0% |
Listing Count | 22 | 21.0% |
| Listings as % of Homes | 0.1% | 21.0% |
Days on Market | 47 | 68.0% |
Demographics — Liberty Heights, Springfield, MA
As of the latest ACS Survey released in 2023, Liberty Heights, Springfield, MA has a population of 21,700, which has decreased by -8.9% over the past 5 years. Liberty Heights, Springfield, MA is a popular place for families, as children make up 25.5% of the population. The area has a poorly educated workforce, with 12.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,700 | -8.9% |
% Under 18 | 25.5% | -2.7% |
% Seniors | 13.8% | 7.8% |
% WFH | 3.8% | 40.7% |
% w/ College Degree | 12.8% | -7.9% |
As of the latest ACS Survey released in 2023, Liberty Heights, Springfield, MA is a predominantly hispanic area, with 59.8% of the population identifying as hispanic. The hispanic population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Liberty Heights, Springfield, MA is white, making up 24.8% of the population. Foreign-born residents account for 9.4% of the population in Liberty Heights, Springfield, MA, and this percentage has increased by 9.3% 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 | 24.8% | -9.8% |
% Black | 13.6% | 20.4% |
% Hispanic | 59.8% | -1.2% |
% Asian | 1.0% | -33.3% |
% Foreign Born | 9.4% | 9.3% |
Mortgage and Risk — Liberty Heights, Springfield, MA
According to HUD data as of 2023, there were 341 mortgage originations in Liberty Heights, Springfield, MA, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Liberty Heights, Springfield, MA. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 341 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Liberty Heights, Springfield, MA
As of 2024, the percent of homes in Liberty Heights, Springfield, MA under the Section 8 program is 35.1%. 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 Liberty Heights, 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 | 2,154 |
Total Units Section 8 | 1,630 |
% Rentals under Section 8 | 35.1% |
% Occupied Section 8 | 88.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $255 | $995 | $1,250 |
| 2 Bedroom | -$50 | $1,600 | $1,550 |
| 3 Bedroom | -$460 | $2,350 | $1,890 |
| 4 Bedroom | -$190 | $2,300 | $2,110 |
Affordability — Liberty Heights, Springfield, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $278,000 |
| Median Household Income | $47,500 |