Average Rent in Springfield, MA
The Fair Market Rent for a 2-bedroom in Springfield, MA is $1,734 per month, based on HUD data. With a median household income of $70,535, a household would spend 29.5% of income on housing at Fair Market Rent. Rent has increased 26.1% year over year. The national median 2BR FMR is $1,250/mo for comparison.
Fair Market Rent by Bedroom
| Size | Monthly FMR |
|---|---|
| Studio | $1,219 |
| 1 Bedroom | $1,382 |
| 2 Bedroom | $1,734 |
| 3 Bedroom | $2,127 |
| 4 Bedroom | $2,296 |
Affordability
| Metric | Value |
|---|---|
| Median Household Income | $70,535 |
| Rent Burden (2BR FMR / Income) | 29.5% |
| Income Needed for 2BR (30% rule) | $69,360/yr |