Español

Este sitio también está en español. Leer en español

City · 8,230 residents · Bay County, Florida

Springfield , Florida

In Springfield, a typical home is worth $188,600 and typical rent is $1,307 a month. Compared with all of Bay County, the typical home value is 39% lower and typical household income is 26% lower.

WhatsApp

  • Typical home value

    $188,600

    39% below the county

    47% below Florida

    • Springfield
    • Bay
    • Florida

  • Typical rent

    $1,307a month

    12% below the county

    22% below Florida

    • Springfield
    • Bay
    • Florida

  • Typical household income

    $54,462a year

    26% below the county

    27% below Florida

    • Springfield
    • Bay
    • Florida

  • Households that own their home

    62%

    5 points below the county

    6 points below Florida

    • Springfield
    • Bay
    • Florida

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$215,050
about the same as 12 months ago
Typical rent
$1,362 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Springfield is in Bay County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Bay County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Springfield apart

What this place has that others do not, from public data, most unusual first.

  1. The typical home in Springfield is worth $188,600, 39% less than in Bay County as a whole ($310,500).

  2. The typical household income in Springfield is $54,462, 26% less than in Bay County as a whole ($73,533).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Springfield

What homes there are in Springfield, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

No kind of home is the majority in Springfield; the largest group, detached houses, adds up to 48%, less than in Bay County (51%).

In Springfield there are many mobile homes: 23% of homes; in Bay County, 10%.

Year built

Homes in Springfield are older: the typical year built is 1988; in Bay County, 1993.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,554 a month

Bay County: $1,778 a month

Without a mortgage

$448 a month

Bay County: $555 a month

Owners with a mortgage

53%

Bay County: 57%

The typical cost for an owner with a mortgage in Springfield is $1,554 a month, less than in Bay County ($1,778); without one, $448.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Springfield rose 69%; in Bay County, it rose 74%.

Rents in Springfield rose faster than in Bay County: 48% since 2015–2019, against 42%.

Here income did not keep up with housing: it rose 40%, while home values changed +69% and rent +48%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureSpringfieldBay CountyFloridaUnited States
Rental vacancy Unreliable estimate11.7%7.6%5.5%
Homeowner vacancy Unreliable estimate1.5%1.4%0.9%
More than one person per room Unreliable estimate3.0%3.3%3.4%
People per household 2.302.332.512.53
Drive alone 71%75%70%69%
Carpool 18%12%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate2%2%3%
Work from home Unreliable estimate10%16%15%
Other means Unreliable estimate1%2%2%
Typical commute Unreliable estimateUnreliable estimate20 to 29 minutes20 to 29 minutes

By size, households in Springfield look like those in Bay County: 2.30 people on average.

More people carpool to work in Springfield than in Bay County: 18% against 12%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Springfield?

A typical home is tight for the typical income

We start with a typical home in Springfield, worth $188,600, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 33% of the typical household income in Springfield, which is $54,462 a year. For that payment to be 28% of income, a household would need to earn about $64,210 a year.

The calculator's FHA and conventional loan limits are those of all of Bay County.

Your numbers

Local data
$

Starts at the typical home value in Springfield. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $6,601 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,498

at 7.18% · 30 years

Loan amount
$185,184
Total interest
$266,436
Paid off in
November 2056

Includes $3,185 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,271 a month

  • Tight

    $1,271 to $1,634 a month

    Your payment · 33%

  • Hard

    more than $1,634 a month

Compared with the typical household income in Springfield ($54,462 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,498
Principal & interest$1,255
Property tax$82
Home insurance$79
FHA mortgage insurance (MIP)$83

You need at least $6,601 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Springfield and Bay County

Springfield is in Bay County, Florida. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Springfield's own numbers

Typical home value
$188,600
Typical monthly rent
$1,307
Typical yearly household income
$54,462
Households that own their home
62%
Effective property tax rate
0.52%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Bay County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,651
Price change over 5 years (FHFA)
+48%
Homes in a high flood-risk zone
13%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Bay County.

Everything about Bay County

Buying

Buying a home in Springfield

A typical home in Springfield is worth $188,600: 39% below the county and 47% below Florida. With the typical household income in Springfield ($54,462 a year), a typical home costs 3.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Springfield 3.5 years
  • Bay 4.2 years
  • Florida 4.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Bay County

According to FHFA’s house price index, home prices in Bay County rose 109% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Bay County.

Period County Florida U.S.
Last year (2025) +2.4% −0.5% +2.9%
5 years (2020–2025) +48% +60% +47%
10 years (2015–2025) +109% +127% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Springfield next to Bay County, Florida and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Springfield $188,600
  • Bay $310,500
  • Florida $359,000
  • United States $332,700
Typical monthly rent
  • Springfield $1,307
  • Bay $1,484
  • Florida $1,669
  • United States $1,413
Typical yearly household income
  • Springfield $54,462
  • Bay $73,533
  • Florida $74,568
  • United States $80,734
See the full table
Springfield next to Bay County and Florida
Measure Springfield Bay County Florida U.S.
Typical home value $188,600 $310,500 $359,000 $332,700
Typical monthly rent $1,307 $1,484 $1,669 $1,413
Typical yearly household income $54,462 $73,533 $74,568 $80,734
Households that own their home 62% 67% 68% 65%
Typical yearly property tax $990 $1,807 $2,730 $3,119
Effective property tax rate 0.52% 0.58% 0.76% 0.94%
Renters with high rent for their income 59% 60% 60% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Bay County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Springfield

For a typical $188,600 home in Springfield, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Springfield's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,498a month

    Least cash to close
    Down payment
    $6,601
    Cash to close
    $12,259
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $83

  • Conventional, 5% down $1,464a month

    Down payment
    $9,430
    Cash to close
    $15,088
    Rate
    7.18%
    Mortgage insurance
    PMI · $90

  • Conventional, 20% down, no PMI $1,182a month

    Down payment
    $37,720
    Cash to close
    $43,378
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,357a month

    Down payment
    $28,290
    Cash to close
    $33,948
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Springfield and for Bay County.

Property tax

Effective rate in Springfield

0.52%of the home’s value each year

$990 a year for the typical owner in Springfield.

  • Springfield 0.52%
  • Bay 0.58%
  • Florida 0.76%

What Florida publishes Homestead exemption (Florida Department of Revenue)

Exemptions and deadlines in Florida

Flood risk in Bay County

FEMA does not publish these numbers by city: they are for all of Bay County.

Homes in the high-risk zone
13%
9,900
Of those, with NFIP insurance
67%
County Florida U.S.
Homes in the high-risk zone 13% 13% 3.5%
Of those, with NFIP insurance 67% 67% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Springfield

Typical rent in Springfield is $1,307 a month: 12% below the county. In Springfield, 59% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Bay County, by unit size. To pay the 2-bedroom one ($1,651 a month) without spending more than 30% of your income, you would need to earn $31.75 an hour working full time.

HUD fair market rent for all of Bay County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,414 $27.19 $56,560
1 bedroom $1,517 $29.17 $60,680
2 bedrooms $1,651 $31.75 $66,040
3 bedrooms $2,101 $40.40 $84,040
4 bedrooms $2,567 $49.37 $102,680

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Springfield

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Springfield has 3 ZIP codes with their own.

For 2 bedrooms it runs from $1,520 in 32401 to $1,660 in 32405.

1 of the 3 is above the fair market rent for Bay County ($1,651).

  • 32401 $1,520$1,960
  • 32404 $1,570$2,000
  • 32405 $1,660$2,110

3 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Springfield when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Springfield

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Bay County; none says it serves in Spanish.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Springfield

No down payment, repair or rent-help program on our list is for Springfield or Bay County. The ones below are statewide in Florida: they work in Springfield the same as in the rest of the state.

Which programs do I qualify for? All programs in Florida

Housing counselors near Springfield

The HUD-approved agencies closest to the center of Springfield, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • City of Panama City Community Development Corporation

    501 Harrison Ave, Panama City · 4 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (850) 872-7231

  • University of Florida/Florida Cooperative Extension - Washington County Cooperative Extension Service

    1424 Jackson Ave, Chipley · 42 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 7 more
    (850) 638-6265

  • University of Florida/Florida Cooperative Extension - Holmes County Cooperative Extension Service

    1169 E Highway 90, Bonifay · 43 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 7 more
    (850) 547-1108

Every agency in Bay County All counseling agencies in Florida

Help in Spanish near Springfield

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Springfield

HUD’s record names them for Springfield or Bay County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of Springfield Public housing and Section 8 vouchers (850) 769-1596

One other authority has an office in Bay County: see the list Source: HUD

Cities

Other cities in Bay County

These cities are also in Bay County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Bay County Housing in Florida

Nearby cities

The cities closest to Springfield, with the typical home value.

Neighboring counties

If Bay County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Springfield.

All guides
Three generations of a family gather on the porch of their home.

Questions

Housing questions about Springfield

Short answers with the numbers for Springfield and all of Bay County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Springfield?

The typical home value in Springfield is $188,600, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Bay County it is $310,500.

How much does it cost to rent in Springfield?

Typical rent in Springfield is $1,307 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Bay County is $1,651.

What is the FHA loan limit in Springfield?

Springfield uses the FHA limit for all of Bay County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Springfield?

The typical homeowner in Springfield pays $990 a year, according to the U.S. Census Bureau. That is 0.52% of the home’s value; in Bay County, the rate is 0.58%.

Where can I find free help to buy or rent in Springfield?

There is 1 HUD-approved counseling agency with an office in Bay County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).