Median Home Price
$195,413.19
Median Rent
$1,211.55/mo
Price-to-Rent RatioBETTER
13.4
Property Tax RateTIE
2.27%
Price Change (1Y)BETTER
+8.0%
Price Change (5Y)BETTER
+39.8%
Break-Even YearsBETTER
5 years
10-Year Wealth DifferenceBETTER
+$20,428
Median Home PriceBETTER
$186,232.99
Median RentBETTER
$1,129.31/mo
Price-to-Rent Ratio
13.7
Property Tax RateTIE
2.27%
Price Change (1Y)
+7.1%
Price Change (5Y)
+35.5%
Break-Even Years
N/A
10-Year Wealth Difference
$8,273
Key Differences
Home Prices
Rockford's median home price of $195,413.19 is higher than Springfield's $186,232.99 by 5%.
Monthly Rent
Renting in Rockford costs $1,211.55/mo compared to $1,129.31/mo in Springfield—a difference of $82.24/mo.
Buy vs Rent Verdict
Rockford favors buying, while Springfield favors either option.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.