Spring Hill Home Prices: $331K, Down 2.5% — 3 ZIPs Analyzed (2026)
$331,292. That’s the typical home value in Spring Hill, FL as of February 2026. Prices are down 2.5% from a year ago, but the monthly decline has nearly flattened over the last quarter.
Quick answer: The average home price in Spring Hill, FL is $331,292 as of February 2026, down 2.5% year over year according to Zillow.
Current Home Prices in Spring Hill
The Spring Hill market sits well below Florida’s statewide average and roughly $60K under the Tampa metro median. You get more house here than in Tampa proper — and the data shows buyers have been pushing back on price.
| Metric | Value |
|---|---|
| Median home value | $331,292 |
| Year-over-year change | -2.5% |
| Cheapest ZIP | $291,805 |
| Most expensive ZIP | $378,510 |
| ZIP codes tracked | 3 |
| Data as of | February 2026 |
| Metro area | Tampa-St. Petersburg-Clearwater |
The $86,705 gap between the cheapest and most expensive ZIP represents about 30% of the city median. That’s a meaningful spread for a suburb of this size. Most of the price variation is geographic — the Pasco County side of Spring Hill trades at a premium to the Hernando County side.
One year ago, the same typical home was worth about $339,720. Owners who bought at the 2022-2023 peak are sitting on paper losses. Buyers entering now are picking up homes at 2022 prices.
The decline is also slowing. In March 2025 the median was $339,917. By November it had fallen to $330,748. Since then it has crept up about $544 — essentially flat. The bleeding has stopped, at least for now.
Spring Hill Home Prices by Neighborhood
Three ZIP codes make up the Spring Hill market. Prices vary more by location than by housing stock.
| ZIP Code | Median Home Value | Avg Rent | vs City Median |
|---|---|---|---|
| 34610 | $378,510 | $2,025 | +14.3% |
| 34609 | $323,560 | $1,959 | -2.3% |
| 34608 | $291,805 | $1,855 | -11.9% |
Most Expensive
- 34610 — $378,510. The top of the Spring Hill market and the only ZIP priced above the city average. Rents also top the list at $2,025.
- 34609 — $323,560. A notch below average but still close to the middle. Rents of $1,959 are in line with the city.
- 34608 — $291,805. The most affordable ZIP, yet it still ranks as the “third most expensive” in a three-ZIP city.
Most Affordable
- 34608 — $291,805. The cheapest entry point in Spring Hill. Homes here trade at an $86K discount to 34610.
- 34609 — $323,560. A middle option — cheaper than the city average by about $7,700.
- 34610 — $378,510. Rounds out the bottom of the “most affordable” list only because the city has just three ZIPs.
Rent vs Buy in Spring Hill
Renting wins on monthly cost. The question is how long you plan to stay.
The average monthly rent across Spring Hill ZIPs is $1,946. On the $331,292 median home, a 20% down payment of $66,258 leaves a $265,034 loan. At a 7% 30-year fixed rate, principal and interest runs about $1,763 per month. Add property taxes of roughly $275 per month (Florida’s effective rate is near 1%) and $275 for insurance, and the all-in monthly cost approaches $2,313.
That’s a gap of about $367 per month — or $4,400 per year — in favor of renting.
| Cost Component | Renting | Buying |
|---|---|---|
| Monthly payment | $1,946 | $2,313 |
| Upfront cash | ~$4,000 (deposit) | $66,258 (down payment) |
| Annual total | $23,352 | $27,756 |
But the math shifts the longer you own. Mortgage payments build equity. Rent doesn’t. And with prices down 2.5% over the past year, you’d need flat or appreciating values to offset the cash gap within a few years.
If you’re staying five-plus years and can cover the down payment, buying pencils out. Under that, renting is the cleaner choice.
Spring Hill Housing Market Trends
The 12-month trend tells a clear story: a long, slow decline that has stopped.
| Month | Median Home Value |
|---|---|
| March 2025 | $339,917 |
| April 2025 | $338,599 |
| May 2025 | $337,248 |
| June 2025 | $335,770 |
| July 2025 | $334,200 |
| August 2025 | $332,495 |
| September 2025 | $331,374 |
| October 2025 | $330,795 |
| November 2025 | $330,748 |
| December 2025 | $330,901 |
| January 2026 | $331,047 |
| February 2026 | $331,292 |
Prices fell every month from March 2025 through November 2025. That’s nine straight months of declines totaling about $9,169, or 2.7%.
Then the pattern broke. December through February each showed small gains. The total three-month gain is $544 — not much, but a change in direction.
This looks like a market that found a floor near $330,700.
Is Spring Hill a Good Place to Buy in 2026?
The data leans toward buyers, but the advantage is narrowing.
You have price declines behind you, inventory priced below Tampa metro levels, and a median under $332K — roughly half of what buyers pay in the Miami market. The 2.5% year-over-year drop means sellers are negotiating.
What’s changed: the monthly gains since November suggest the correction may be done. If you were waiting for another 5% drop, the trend data doesn’t support that thesis.
For buyers who can afford the monthly payment and plan to stay at least five years, the current pricing looks reasonable. For short-term buyers, the rent-vs-buy gap still favors renting.
Sellers have less room to push back than they did in 2023, but the floor appears to have held. Homes listed near the ZIP-level medians should move.
Spring Hill Housing Market Outlook for 2026-2027
The three-month trend suggests stabilization, not a new rally. From November 2025 through February 2026, prices gained $544 — an annualized pace of about 0.7%.
If the current pace continues, Spring Hill finishes 2026 roughly 1% above where it is now. Small positive gains, not a boom.
The nine-month decline that ended in November was steeper than the rebound has been so far. That asymmetry matters. A market that fell quickly and is recovering slowly tends to stay near the bottom longer than buyers expect.
For the next 3 to 6 months, the data points to flat-to-slightly-positive pricing. A return to the March 2025 high of $339,917 would require roughly 2.6% gains — possible by late 2026 if the recent monthly pattern holds.
Similar Markets in FL
If Spring Hill’s price point works for you, these Florida cities are worth comparing:
- Port Saint Lucie — Another mid-priced Florida suburb outside the core metros.
- Jacksonville — Bigger market with wider ZIP-level variation.
- Tampa — The metro Spring Hill belongs to. Expect to pay more for urban proximity.
- Orlando — Similar state but a different metro economy.
- Homestead — South Florida’s budget option, worth comparing on rent-to-price ratios.
Frequently Asked Questions
What is the average home price in Spring Hill?
The average home price in Spring Hill, FL is $331,292 as of February 2026. That figure is the Zillow Home Value Index median across the three Spring Hill ZIP codes.
Are home prices going up or down in Spring Hill?
Prices are down 2.5% year over year. The declines were concentrated between March and November 2025; the three months since have shown small monthly gains, suggesting the market has found its floor near $330,700.
Is it cheaper to rent or buy in Spring Hill?
Renting costs about $1,946 per month on average. Buying the median home with 20% down runs roughly $2,313 per month after mortgage, taxes, and insurance — about $367 more than renting. Buying only makes sense if you plan to stay more than five years.
What is the most affordable neighborhood in Spring Hill?
ZIP 34608 is the cheapest area at $291,805 — nearly $40K below the city median and $86K below the most expensive ZIP (34610). Rents there also come in lowest at $1,855 per month.
Methodology
Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.