Side-by-side comparison of Springfield, IL and Bloomington, IL — cap rates, rent, prices, and investment metrics.
Cash flow: Springfield has the edge with an estimated cap rate of 4.77% compared to Bloomington's 3.92%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $135,000 in Springfield vs $185,000 in Bloomington, while rents come in at $920/mo and $1,100/mo respectively.
Growth & appreciation: Bloomington is growing faster at 0.3% annually vs Springfield's 0.1%. Bloomington leads on home value appreciation at 2.2% per year.
Costs & risk: Property taxes are 2.08% in Springfield vs 2.02% in Bloomington. Vacancy rates of 6.5% and 5.5% are mixed — Bloomington has the tighter rental market.
Bottom line: Bloomington edges out Springfield on most key metrics. While cap rates are moderate at 3.92%, Bloomington's overall profile is stronger. Use our free calculators to model specific deals in Springfield or Bloomington.