Springfield, MO—65802
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Springfield, MO
As of Oct '25, the median home price in Springfield, MO is $200,000, with a year-over-year change of 0.3%. This indicates that home prices in Springfield, MO are flat. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $200,000 | 0.3% |
| Single Family | $200,000 | 0.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $81,000 | -5.8% |
2 Bed | $121,000 | -3.2% |
3 Bed | $213,000 | 0.9% |
4 Bed | $324,000 | 0.9% |
| 5 Bed | $483,000 | 1.0% |
% of Housing Stock
Rental Trends — Springfield, MO
As of July '25, Rentcast reports the average rent in Springfield, MO is $1,180, with a year-over-year rent change of -4.1%. Per bedroom, the median rent as of July '25 in Springfield, MO is studios: $740, 1-bedrooms: $845, 2-bedrooms: $929, 3-bedrooms: $1,380, 4-bedrooms: $1,570. The most common rental property sizes in Springfield, MO are 2-bedroom and 3-bedroom, accounting for 37.3% and 34.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,180 |
| Studio Rent | $720 | $740 |
| 1 Bed Rent | $795 | $845 |
| 2 Bed Rent | $895 | $929 |
| 3 Bed Rent | $1,350 | $1,380 |
| 4 Bed Rent | $1,350 | $1,570 |
% of Rental Stock
Property Listings — Springfield, MO
As of Oct '25, Realtor.com reports that the median days on market for a home in Springfield, MO is 47. This is a increase of 21.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $262,000 | 19.0% |
Listing Count | 290 | 23.0% |
| Listings as % of Homes | 0.8% | 23.0% |
Days on Market | 47 | 21.0% |
Demographics — Springfield, MO
As of the latest ACS Survey released in 2023, Springfield, MO has a population of 46,000, which has decreased by -1.9% over the past 5 years. Springfield, MO is a moderately popular place for families, as children make up 21.5% of the population. The area has a moderately educated workforce, with 25.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 46,000 | -1.9% |
% Under 18 | 21.5% | -0.5% |
% Seniors | 13.4% | 13.6% |
% WFH | 7.1% | 108.8% |
% w/ College Degree | 25.6% | 13.8% |
As of the latest ACS Survey released in 2023, Springfield, MO is a predominantly white area, with 81.5% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Springfield, MO is hispanic, making up 4.9% of the population. Foreign-born residents account for 3.1% of the population in Springfield, MO, and this percentage has increased by 14.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 81.5% | -4.9% |
% Black | 4.3% | 7.5% |
% Hispanic | 4.9% | -5.8% |
% Asian | 1.5% | 66.7% |
% Foreign Born | 3.1% | 14.8% |
Mortgage and Risk — Springfield, MO
According to HUD data as of 2023, there were 1154 mortgage originations in Springfield, MO, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Springfield, MO. Investor activity is low, as 9.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,154 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 9.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Springfield, MO
As of 2024, the percent of homes in Springfield, MO under the Section 8 program is 6.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Springfield, MO, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 565 |
Total Units Section 8 | 524 |
% Rentals under Section 8 | 6.3% |
% Occupied Section 8 | 86.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$85 | $795 | $710 |
| 2 Bedroom | -$5 | $895 | $890 |
| 3 Bedroom | -$130 | $1,350 | $1,220 |
| 4 Bedroom | $20 | $1,350 | $1,370 |
Affordability — Springfield, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $200,000 |
| Median Household Income | $51,100 |