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Springfield vs Lowell for Rental Property Investing

Side-by-side comparison of Springfield, MA and Lowell, MA — cap rates, rent, prices, and investment metrics.

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Lowell wins 4–3 across key metrics
Springfield leads on cash flow (4.24% vs 3.24% cap rate) · Lowell leads on population growth
Metric
Springfield, MA
Lowell, MA
Est. Cap Rate
4.24%
3.24%
Median Home Price
$230,000
$380,000
Median Monthly Rent
$1,280
$1,720
1% Rule
0.56%
0.45%
GRM
15.0x
18.4x
Price / Income
5.7x
6.5x
Property Tax Rate
1.22%
1.15%
Vacancy Rate
6.2%
4.5%
Population Growth
0.1% / yr
0.4% / yr
Annual Appreciation
2.4%
2.8%
Population
155,929
115,554
Median Income
$40,200
$58,200

Springfield vs Lowell: Which Is Better for Investors?

Cash flow: Springfield has the edge with an estimated cap rate of 4.24% compared to Lowell's 3.24%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $230,000 in Springfield vs $380,000 in Lowell, while rents come in at $1,280/mo and $1,720/mo respectively.

Growth & appreciation: Lowell is growing faster at 0.4% annually vs Springfield's 0.1%. Lowell leads on home value appreciation at 2.8% per year.

Costs & risk: Property taxes are 1.22% in Springfield vs 1.15% in Lowell. Vacancy rates of 6.2% and 4.5% are mixed — Lowell has the tighter rental market.

Bottom line: Lowell edges out Springfield on most key metrics. While cap rates are moderate at 3.24%, Lowell's overall profile is stronger. Use our free calculators to model specific deals in Springfield or Lowell.

Springfield, MA
4.24% cap rate · $230,000 median · $1,280/mo
Full analysis →
Lowell, MA
3.24% cap rate · $380,000 median · $1,720/mo
Full analysis →
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