West Springfield, Virginia Housing Market Prices
West Springfield Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 118% above the Virginia median$557,240
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Median rent 56% above the Virginia median$2,455
Housing Market Overview
| Metric | West Springfield | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $557,240 | $256,082 | $248,835 |
| Price Trend (Annual %) | 2.8% | 3.5% | 7.5% |
| Median Gross Rent | $2,455 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 2.3% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in West Springfield is about 118% higher than in Virginia. Rent is about 56% higher than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in West Springfield, up about 2.8% and 2.3% a year respectively. Home prices are changing faster.
Median rent in West Springfield rose about 25.1% between 2015 and 2024, from $1,963 to $2,455. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in West Springfield.
Buying the median-priced home in West Springfield costs roughly 18.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in West Springfield. The price-to-rent ratio in Virginia is about 13.5.
| Metric | West Springfield | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $557,240 | $256,082 | $248,835 |
| Median Household Income | $163,306 | $93,527 | $80,455 |
| Price-to-Income Ratio | 3.4 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in West Springfield rose about 47.7%, while median household income rose about 45.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | West Springfield | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 81.9% | 61.5% | 58.5% |
| Rental Rate | 14.5% | 29.8% | 31.2% |
| Vacancy Rate | 3.6% | 8.7% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
West Springfield has a homeownership rate of 81.9%, higher than the Virginia average of 61.5%. Its housing vacancy rate is 3.6%, compared with 8.7% in Virginia.
Housing Stock
| Metric | West Springfield | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.98 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1975 | 1982 | 1978 |
| Median Number of Rooms | 7.2 | 6.0 | 5.5 |
The typical housing unit in West Springfield was built around 1975. On average, 3.0 people live in a home with about 7.2 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in West Springfield, Virginia.
What is the median home price in West Springfield, Virginia?
The median home price in West Springfield, Virginia is $557,240, higher than the Virginia average of $256,082.
What is the average home price in West Springfield, Virginia?
The typical home price in West Springfield, Virginia, reported as the median sale price, is $557,240. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in West Springfield, Virginia?
The median gross rent in West Springfield, Virginia is $2,455 per month, higher than the Virginia average of $1,579.
What was the median gross rent in West Springfield in 2020?
In 2020, the median gross rent in West Springfield, Virginia was $2,132 per month.
What is the price-to-rent ratio in West Springfield, Virginia?
The price-to-rent ratio in West Springfield, Virginia is about 18.9, meaning it would take roughly 18.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in West Springfield.
Are home prices or rent rising faster in West Springfield, Virginia?
Both home prices and rent are rising in West Springfield, up about 2.8% and 2.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in West Springfield, Virginia?
81.9% of households in West Springfield, Virginia own their home, higher than the Virginia average of 61.5%.
What is the vacancy rate in West Springfield, Virginia?
The housing vacancy rate in West Springfield, Virginia is 3.6%, lower than the Virginia average of 8.7%.
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