62704, Springfield, IL Housing Market

ZIP code 62704's median home value is $191K, up 14.0% over the past year. Homes here sell in a median 28 days. Its PropertyIQ Score of 91 sits well above the state average of 50, marking a market positioned to outperform its state over the next three years.

62704, Springfield, IL is one of nearly 20,000 U.S. ZIP codes that PropertyIQ analyzes with AI-powered demand signal scoring. ZIP-level analysis provides the most hyperlocal view of housing market dynamics available, measuring how demand within 62704 compares to the IL state average and identifying outperformance potential before it appears in price data.

Midwestern ZIP codes frequently offer entry prices far below national medians, but performance varies dramatically even within the same city. PropertyIQ scores individual ZIP codes to identify which neighborhoods show the demand signals — fast sales, rising price momentum, few price cuts — that predict near-term appreciation. Within the Midwest, ZIP code 62704's PropertyIQ Score of 91 ranks among the Midwest's stronger demand signals.

For 62704, Springfield, IL, PropertyIQ updates a hyperlocal score each month from four signals: twelve-month and three-month Zillow home-value momentum, Realtor.com median days on market, and the Realtor.com share of price-reduced listings. The score is computed across all ZIP codes nationally and calibrated so 50 equals the state average, so a value above 50 means this ZIP's demand dynamics read stronger than its state. ZIP-level analysis captures neighborhood variation that county and metro scores smooth over.

View 62704, Springfield, IL's PropertyIQ Score and compare it against other ZIP codes in the state. Generate a free AI market report for this ZIP code or explore historical trends on the interactive map to understand how this micro-market has evolved.