$1,734 Per Month
- 2 Beds
- 1 Bath
- 800 Sq Ft
- Apartment for Rent
240 Locust St Unit 4L, Springfield, MA 01108
240 Locust St Unit 4L, Springfield, MA 01108
Frequently Asked Questions
How much does it cost to rent a home in Springfield, MA?
The median rent for a home in Springfield, MA is $1,835 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Springfield, MA?
To comfortably afford the median rent in Springfield, MA, a household needs to earn roughly $73,400 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,835 per month in Springfield, MA, renters typically need to show $5,505 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Springfield, MA?
In Springfield, MA, the price-to-rent ratio is 13.6, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Springfield, MA are best for renting a home?
The best neighborhood for renting in Springfield, MA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Old Hill, McKnight, Forest Park, Metro Center and Liberty Heights, each with its own character and price range.
