Rent Tracker
Rent Inflation in Springfield, MA
The average asking rent in Springfield, MA is $1,941/month as of 2026-05. That is +4.2% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,941/mo
as of 2026-05
Year-over-Year Change
+4.2%
24-Month Rent Trend
Monthly ZORI index values for Springfield, MA.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-05 | $1,941 | +0.36% |
| 2026-04 | $1,934 | +0.10% |
| 2026-03 | $1,932 | +0.26% |
| 2026-02 | $1,927 | +0.16% |
| 2026-01 | $1,924 | +0.00% |
| 2025-12 | $1,924 | +1.00% |
| 2025-11 | $1,905 | +0.74% |
| 2025-10 | $1,891 | +0.42% |
| 2025-09 | $1,883 | +0.16% |
| 2025-08 | $1,880 | +0.00% |
| 2025-07 | $1,880 | +0.53% |
| 2025-06 | $1,870 | +0.38% |
| 2025-05 | $1,863 | +0.54% |
| 2025-04 | $1,853 | +0.98% |
| 2025-03 | $1,835 | +0.38% |
| 2025-02 | $1,828 | +0.83% |
| 2025-01 | $1,813 | -0.11% |
| 2024-12 | $1,815 | +0.17% |
| 2024-11 | $1,812 | +0.06% |
| 2024-10 | $1,811 | +0.67% |
| 2024-09 | $1,799 | +1.01% |
| 2024-08 | $1,781 | -0.28% |
| 2024-07 | $1,786 | -0.06% |
| 2024-06 | $1,787 | — |
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