Rent Tracker
Rent Inflation in Springfield, MA
The average asking rent in Springfield, MA is $1,964/month as of 2026-08. That is +3.9% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,964/mo
as of 2026-08
Year-over-Year Change
+3.9%
24-Month Rent Trend
Monthly ZORI index values for Springfield, MA.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $1,964 | -0.25% |
| 2026-07 | $1,969 | +0.31% |
| 2026-06 | $1,963 | +0.82% |
| 2026-05 | $1,947 | +0.41% |
| 2026-04 | $1,939 | +0.05% |
| 2026-03 | $1,938 | +0.26% |
| 2026-02 | $1,933 | +0.10% |
| 2026-01 | $1,931 | +0.10% |
| 2025-12 | $1,929 | +0.89% |
| 2025-11 | $1,912 | +0.63% |
| 2025-10 | $1,900 | +0.37% |
| 2025-09 | $1,893 | +0.11% |
| 2025-08 | $1,891 | +0.16% |
| 2025-07 | $1,888 | +0.48% |
| 2025-06 | $1,879 | +0.43% |
| 2025-05 | $1,871 | +0.48% |
| 2025-04 | $1,862 | +1.03% |
| 2025-03 | $1,843 | +0.27% |
| 2025-02 | $1,838 | +0.71% |
| 2025-01 | $1,825 | -0.16% |
| 2024-12 | $1,828 | +0.38% |
| 2024-11 | $1,821 | +0.00% |
| 2024-10 | $1,821 | +0.61% |
| 2024-09 | $1,810 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices