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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Spring Hill, FL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Spring Hill, FL Housing Market Trends

With a population of 113,568, 44,625 total housing units (homes and apartments), and a median house value of $343,880, Spring Hill real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Spring Hill, accounting for 86.41% of the town's housing units. Other types of housing that are prevalent in Spring Hill include large apartment complexes or high rise apartments ( 5.62%), mobile homes or trailers ( 3.43%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.59%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Spring Hill. Owner-occupied housing accounts for 76.91% of Spring Hill's homes, and 66.36% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Spring Hill built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Spring Hill built between 2000 and later ( 35.99%). A lesser amount of the housing stock also hails from between 1940-1969 ( 2.50%).

Spring Hill Home Appreciation Rates

In the last 10 years, Spring Hill has experienced some of the highest home appreciation rates of any community in the nation. Spring Hill real estate appreciated 228.17% over the last ten years, which is an average annual home appreciation rate of 12.62%, putting Spring Hill in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Spring Hill definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Spring Hill's appreciation rate, at 6.41%, has been at or slightly above the national average. In the latest quarter, Spring Hill's appreciation rate has been 0.30%, which annualizes to a rate of 1.19%.

Notably, Spring Hill's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Florida, our data show that Spring Hill's latest annual appreciation rate is higher than 50% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Spring Hill differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Spring Hill - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Spring Hill real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$343,880

Spring Hill, FL Home Prices
> $1,582,000
$1,186,001 - $1,582,000
$791,001 - $1,186,000
$633,001 - $791,000
$475,001 - $633,000
$316,001 - $475,000
$158,001 - $316,000
$79,001 - $158,000
$0 - $79,000
0.3%
0.3%
0.2%
0.2%
1.4%
1.4%
4.5%
4.5%
14.8%
14.8%
38.0%
38.0%
30.5%
30.5%
5.5%
5.5%
4.8%
4.8%
0% 100.0%
% of Homes
Average

for Florida

High

for nation

Number of Homes And Apartments:

44,625

Spring Hill Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,396 / per month

Homeownership Rate

Owners
Renters
76.9%
76.9%
23.1%
23.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.4%
7.4%
92.6%
92.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
36.0%
36.0%
61.4%
61.4%
2.5%
2.5%
0.1%
0.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
86.4%
86.4%
1.9%
1.9%
2.6%
2.6%
5.6%
5.6%
3.4%
3.4%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.7%
0.7%
2.1%
2.1%
28.6%
28.6%
49.2%
49.2%
17.2%
17.2%
2.3%
2.3%
0% 100.0%
% of Homes