What is the Best Neighborhoods USA ranking for Memorial Square?
Memorial Square is ranked #16 of 18 eligible neighborhoods in Springfield; #251 of 259 eligible neighborhoods in MA; and #13,734 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Memorial Square
Springfield, MA | Hampden County
Scored premium profile
Best Neighborhoods USA Index
28.4
Stability and Strength
10.4
Value Opportunity
12.2
Momentum
79.8
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Springfield, MA |
| County | Hampden County |
| National rank | #13,734 of 14,967 |
| State rank | #251 of 259 |
| City rank | #16 of 18 |
| County rank | #16 of 18 |
| National percentile | 8.2 |
| National band | LOWER_25_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $348,780 |
| Year-over-year home value change | 3.2% |
| Month-over-month home value change | 0.71% |
| Home value to income ratio | 11.34 |
| Median household income | $30,760 |
| Bachelor's degree or higher | 14.3% |
| Civilian unemployment rate | 16.4% |
| Homeownership rate | 18.1% |
| Housing vacancy rate | 10.8% |
| Rent burden 30% or higher | 68.8% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Memorial Square
Is Memorial Square one of the best neighborhoods in Springfield?
Memorial Square has a Best Neighborhoods USA Index of 28.4 and a city ranking of #16 of 18 eligible neighborhoods in Springfield.
How much are homes worth in Memorial Square?
The current Zillow Home Value Index for Memorial Square is approximately $348,780.
Are home values rising or falling in Memorial Square?
Zillow neighborhood values changed 3.2% year over year and 0.71% month over month.
What is the Neighborhood Momentum Score for Memorial Square?
Memorial Square has a Neighborhood Momentum Score of 79.8. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Memorial Square?
The NDS-derived neighborhood median household income is approximately $30,760.
How affordable is Memorial Square relative to household income?
The current Zillow home-value-to-household-income ratio is 11.34. Price-to-income affordability is a major Value Opportunity input.
Is Memorial Square primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 18.1%.
What is the unemployment rate in Memorial Square?
The NDS-derived civilian unemployment rate is approximately 16.4%.
How educated are residents of Memorial Square?
Approximately 14.3% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Memorial Square face high rent burden?
Approximately 68.8% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Memorial Square?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications59
Estimated originations33
Home-purchase applications38
Origination rate54.9%
Home-purchase share63.8%
Average application loan$391,237
Total application loan amount$23,211,162
National application rank#6,557 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 7.6% YoY; originations 28.6% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.