Hampden County · Massachusetts · Northeast · 155k residents
Springfield, MA: economy, jobs & business costs
The site-selection read on Springfield: labor costs, talent, corporate tax, energy, and business activity, with the Massachusetts median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,244/wk. Massachusetts's corporate income tax rate is 8%. Commercial electricity averages 20.9¢/kWh.
Compare Springfield side by side
Avg. weekly wage
$1,244/wk
Corporate income tax
8%
Bachelor's degree or higher
20.5%
Commercial electricity
20.9¢/kWh
Economic momentum
How fast Springfield's economy is moving, ranked against the US cities we track.
13/100
Cooling
Ranks Springfield's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $245,000 |
| Price per sq. ft. | $400 |
| Property tax rate | 1.14% |
| 1-bedroom rent | $599/mo |
| 2-bedroom rent | $1,205/mo |
| State & local income tax | 5% |
| Sales tax | 6.25% |
| Corporate income tax | 8% |
| Avg. weekly wage | $1,244/wk |
| Bachelor's degree or higher | 20.5% |
| Commercial electricity | 20.9¢/kWh |
| Businesses per 1k residents | 41.4/1k |
| Wage: Software developer | $127,740 |
| Wage: Registered nurse | $98,410 |
| Wage: General manager | $106,390 |
| Wage: Customer service | $46,790 |
| Wage: Warehouse worker | $37,160 |
| Wage: Heavy truck driver | $61,420 |
| Wage: Electrician | $77,420 |
| Wage: Retail salesperson | $35,440 |
| Cost of living index | 97 |
| Groceries index | 108 |
| Utilities | $245/mo |
| Transit pass | $90/mo |
| Gas price | $3.35/gal |
| Healthcare index | 108 |
| Childcare (per child) | $1,900/mo |
| Median household income | $52,656 |
| Unemployment rate | 3.6% |
| Population | 155k |
| Crime index | 30/100 |
| School rating | 8.5/10 |
| Walkability | 38/100 |
| Disaster risk | 93/100 |
| Avg. commute | 30 min |
| Sunny days / year | 200 days |
| July high | 85°F |
| January low | 16°F |
| Annual snowfall | — |
| Home price YoY | +3.6% |
| Home price MoM | +0.1% |
| Rent YoY | +4.3% |
| Rent MoM | -0.1% |
| Employment (jobs) YoY | -0.5% |
| Building permits YoY | -88.3% |
| Ocean coast | 60 mi |
| Big lake | 61 mi |
| Mountains | 47 mi |
| Major airport | 12 mi |
| Ski resort | 45 mi |
Popular comparisons
Nearby
- West Springfield Town, MA · 29k
- Chicopee, MA · 55k
- Agawam Town, MA · 29k
- Longmeadow, MA · 16k
- Holyoke, MA · 38k
Similar size
- Cambridge, MA · 119k
- Lowell, MA · 118k
- Brockton, MA · 105k
- Worcester, MA · 207k
- Quincy, MA · 102k
Real listings in Springfield
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Springfield a good place to run a business?
- Massachusetts's corporate income tax rate is 8%; average weekly wages in the surrounding labor market run $1,244/wk; commercial electricity averages 20.9¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Springfield, MA?
- Springfield indexes at 97 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,205/mo and a acs median home value of $245,000.
- How much does a house cost in Springfield?
- The acs median home value in Springfield is $245,000 (Census ACS estimate; individual listings vary).
- How much is rent in Springfield?
- A two-bedroom in Springfield rents for about $1,205/mo.