NAICS 53

Real Estate and Rental and Leasing in Springfield, MA

Metro Market Score 60.2 (Difficult), ranked #275 of 330 metros. 414 establishments, 2,139 jobs.

Metro Market Score 60.2

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Difficult

ⓘ Lower is better. Relative to national real estate and rental and leasing average.

Springfield's real estate and rental and leasing sector saw employment decline over the past year (growth trend: 1.5). That contraction, combined with a 60.2 market score, puts this metro in the bottom quartile for market conditions. Understand why the local market is shrinking before committing.

Industry Concentration

36.1

LQ: 0.68

Rank #119 of 330 metros

Wage Competitiveness

72.1

$62,577 avg wage

Growth Trend

↓ 1.5

Employment growth index

Rank #326 of 330 metros

Wage Pressure

18.0

YoY wage change index

414 Real Estate and Rental and Leasing Firms in Springfield

414

Establishments

-23.0% YoY

2,139

Total Employment

-19.0% YoY

$62,577

Average Annual Wage

+4.3% YoY

0.68

Location Quotient

Below national avg

Within Massachusetts

#3 of 6

real estate and rental and leasing metros in state

Massachusetts state rank

#5 of 51

for real estate and rental and leasing entry risk

vs State Median

-1.2

better than median (61.4)

Springfield vs Massachusetts Statewide

How this metro's real estate and rental and leasing market compares to Massachusetts overall. The state ranks #5/51 for entry risk.

Measure	Springfield	MA Statewide
Overall Score	60.2 Difficult	27.7 Low
Score Type	Metro Market Score	Entry Risk Score
Rank	#275 of 330 metros	#5 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Springfield

Information 58.5 Administrative and Support Services 61.3 Professional, Scientific, and Technical Services 62.6 Accommodation and Food Services 65.4 Construction 65.7 Retail Trade 67.8 Healthcare and Social Assistance 71.4 Other Services 73.3 Finance and Insurance 82.0

Real Estate and Rental and Leasing in Other Massachusetts Metros

Amherst Town-Northampton 35.1 #99/330 Pittsfield 48.2 #204/330 Worcester 61.4 #284/330 Boston-Cambridge-Newton 66.6 #306/330 Barnstable Town 67.0 #307/330

Real Estate and Rental and Leasing Metros With Similar Conditions

Metros within 5 points of Springfield's 60.2 score. Useful when comparing markets with comparable entry profiles.

Miami-Fort Lauderdale-West Palm Beach, FL 60.2 #276/330 Phoenix-Mesa-Chandler, AZ 60.1 #274/330 Mobile, AL 60.5 #277/330 Washington-Arlington-Alexandria, DC 60.5 #278/330 Hilton Head Island-Bluffton-Port Royal, SC 59.9 #273/330 Boise City, ID 60.6 #279/330 Trenton-Princeton, NJ 59.5 #271/330 Shreveport-Bossier City, LA 59.5 #272/330 Pittsburgh, PA 59.5 #270/330 Tampa-St. Petersburg-Clearwater, FL 61.1 #280/330

Real Estate and Rental and Leasing in States Bordering Massachusetts

State-level entry risk for real estate and rental and leasing in adjacent states. Use this to weigh cross-border options.

New Hampshire 29.6 #7/51 Vermont 30.1 #9/51 New York 37.6 #21/51 Rhode Island 37.8 #22/51 Connecticut 45.9 #37/51

Browse Real Estate and Rental and Leasing in Other States

State-level entry risk reports for real estate and rental and leasing across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Springfield's real estate and rental and leasing sector, the employment growth component (98.5) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Springfield, MA MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment