Springfield VA Home Prices: $701K, Down 1% — 4 ZIPs Analyzed (2026)

$700,941. That’s what a typical home costs in Springfield, VA as of February 2026. Prices are down 1.0% from a year earlier, the seventh straight month the index has come in below last spring’s peak.

Quick answer: The average home price in Springfield, VA is $700,941 as of February 2026, down 1.0% year over year according to Zillow.

Current Home Prices in Springfield

Springfield sits inside the Washington-Arlington-Alexandria metro, and prices here move with the broader DC suburbs. The current median across four ZIP codes is $700,941. A year ago the same index read closer to $707,763. That works out to a 1.0% drop.

The spread between cheap and expensive Springfield is narrower than in most cities. The lowest-priced ZIP comes in at $665,386. The highest sits at $746,265. That’s a gap of roughly $81,000 — about 12% from bottom to top.

You’re looking at a market that has cooled but hasn’t cracked. The pullback is shallow. Compare that to cities where values have fallen 4% or 5% in a year, and Springfield looks closer to flat than falling.

For a buyer, the math is simple. Every house in this city is a $665K-plus purchase. There is no cheap pocket. The variation between neighborhoods is small enough that you’re picking based on commute, schools, and lot size more than dollars.

Springfield Home Prices by Neighborhood

Four ZIP codes make up Springfield. The cheapest and the priciest are less than $81,000 apart.

Most Expensive

• 22153 — $746,265. The priciest pocket in Springfield, with rents to match at $2,951 per month.
• 22151 — $705,913. Sits just above the city median and rents for about $2,917.
• 22152 — $686,201. Below the city average but rents are still near the top tier at $2,846.

Most Affordable

• 22150 — $665,386. The cheapest ZIP and noticeably cheaper to rent at $2,296.
• 22152 — $686,201. The second-most affordable, roughly $15,000 under the city median.
• 22151 — $705,913. The third spot belongs to a ZIP that’s actually above average — a reminder of how compressed prices are here.

Rent vs Buy in Springfield

Rents tell a clear story. The four Springfield ZIPs range from $2,296 to $2,951 per month. The citywide rent average across the four ZIPs works out to about $2,752.

Now run the buy side. A $700,941 home with 20% down leaves a $560,753 loan. At a 7% mortgage rate, the principal-and-interest payment alone is roughly $3,730 per month. Add property tax, insurance, and HOA, and you’re well past $4,500.

Renting is cheaper by close to $1,000 a month before you even count taxes and upkeep. That gap doesn’t mean buying is wrong. It means you’re paying for equity, stability, and the option to stay put. If you plan to leave inside five years, the numbers favor a lease.

The cheapest rent is in 22150 at $2,296. The most expensive is 22153 at $2,951. That’s a $655 monthly spread for choosing one Springfield ZIP over another.

Springfield Housing Market Trends

Prices peaked in spring 2025 and have drifted sideways since.

You can see two phases. From March to August 2025, prices fell every month, dropping about $14,600 — roughly 2.1% in five months. Then the index found a floor at $693,117 in August.

Since then, prices have ticked up six months in a row. The recovery is slow. February 2026 is $7,800 above the August low, a gain of about 1.1%. That’s barely above the noise level for a smoothed index like ZHVI.

The headline YoY number of -1.0% mostly reflects the early-2025 slide. Recent momentum is mildly positive.

Is Springfield a Good Place to Buy in 2026?

It depends on what you want from the deal.

If you’re hunting for a discount, Springfield isn’t it. Prices have stopped falling. The bottom of the cycle was eight months ago and the index has gained ground every month since.

If you want price stability inside the DC metro, the case is stronger. Springfield has moved less than nearby markets in either direction. The four-ZIP spread is tight. There’s no high-flying neighborhood and no falling-knife neighborhood.

For a buyer with a budget under $665,000, Springfield is closed. Even the cheapest ZIP starts above that line. You’d need to look at Woodbridge, Fredericksburg, or further south.

For a buyer with a budget between $700,000 and $750,000, Springfield offers all four ZIPs without stretching. The market right now leans neutral — modest YoY decline, small monthly gains. Not a fire sale, not a frenzy.

Springfield Housing Market Outlook for 2026-2027

The 3-month trend shows prices up about $2,058, or roughly 0.3%. The 6-month trend shows a gain of about $6,265, or 0.9%. Both numbers are positive but small.

If the current pace continues, Springfield would finish 2026 close to flat — somewhere between $700,000 and $710,000. The year-over-year reading should flip from negative to positive sometime this summer, when the comparison rolls past the soft middle of 2025.

The risk to the upside is rates. A drop in mortgage rates could move the smoothed index faster than the recent 0.1% to 0.3% monthly pace. The risk to the downside is the same DC-area job market everyone watches. Neither risk shows up in the data on hand.

Similar Markets in VA

• Woodbridge — A common alternative for Springfield shoppers priced out of the four core ZIPs.
• Fairfax — Same county, similar commute, and a close peer on price.
• Arlington — Closer to DC and typically more expensive than Springfield.
• Fredericksburg — Further south, generally cheaper, and a real option if your budget tops out below $665,000.
• Virginia Beach — A different metro entirely, useful if you’re comparing Northern Virginia to Hampton Roads.

Frequently Asked Questions

What is the average home price in Springfield?

The average home price in Springfield, VA is $700,941 as of February 2026. That figure is the Zillow Home Value Index averaged across the city’s four ZIP codes: 22150, 22151, 22152, and 22153.

Are home prices going up or down in Springfield?

Year over year, prices are down 1.0%. The longer arc is more nuanced — prices fell from $707,763 in March 2025 to a low of $693,117 in August 2025, then climbed back to $700,941 by February 2026. Short-term momentum is up; the annual number is still slightly negative.

Is it cheaper to rent or buy in Springfield?

Renting is cheaper. The citywide median rent across four ZIPs is about $2,752, while a 20%-down mortgage on the $700,941 median runs roughly $3,730 before taxes, insurance, or HOA. That’s close to a $1,000 monthly gap in favor of renting, before counting any homeownership costs.

What is the most affordable neighborhood in Springfield?

ZIP 22150 is the most affordable, with a typical home value of $665,386 — about $35,500 below the city median. It also has the lowest rents in Springfield at $2,296 per month, more than $650 cheaper than the priciest ZIP.

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.