Springfield, MO65803

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$180,000
0.0% YoY Growth
Median Household Income
$46,500
26.7% 5-Year Growth
Days on Market
52
16.0% Longer than last year
Home Price Forecast
2.1%
Median Rent
$1,020
0.0% YoY Growth
1-Bed Rent
$750
13.5% YoY Growth
2-Bed Rent
$895
4.7% YoY Growth
3-Bed Rent
$1,180
7.1% YoY Growth

Other Zip Codes in Springfield, MO

Property Listings — Springfield, MO

As of Oct '25, Realtor.com reports that the median days on market for a home in Springfield, MO is 52. This is a increase of 16.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.

MetricZip Code AverageYear over Year % Change
Median Listing Price
$204,000-8.0%
Listing Count
22410.0%
Listings as % of Homes0.5%10.0%
Days on Market
5216.0%
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Demographics — Springfield, MO

As of the latest ACS Survey released in 2023, Springfield, MO has a population of 43,200, which has increased by 5.2% over the past 5 years. Springfield, MO is a moderately popular place for families, as children make up 22.8% of the population. The area has a poorly educated workforce, with 22.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.

MetricLatest CensusYoY % Change
Population
43,2005.2%
% Under 18
22.8%4.6%
% Seniors
15.4%-1.9%
% WFH
8.1%131.4%
% w/ College Degree
22.3%8.3%
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As of the latest ACS Survey released in 2023, Springfield, MO is a predominantly white area, with 82.2% of the population identifying as white. The white population has shrunk by 5.9% in the last 5 years. The second most common race or ethnicity in Springfield, MO is hispanic, making up 5.9% of the population. Foreign-born residents account for 3.2% of the population in Springfield, MO, and this percentage has increased by 113.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

MetricLatest Census5-Year % Change
% White
82.2%-5.9%
% Black
4.0%-18.4%
% Hispanic
5.9%63.9%
% Asian
0.7%-12.5%
% Foreign Born
3.2%113.3%
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Mortgage and Risk — Springfield, MO

According to HUD data as of 2023, there were 754 mortgage originations in Springfield, MO, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 37.0% 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. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

MetricZip Code Average
Total Loan Originations
754
% Conventional Loans
73.0%
% Government Loans
27.0%
% Investor Loans
9.0%
% Second Loans
0.0%
% Cash Out Refinance
12.0%

Loan Activity

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Rentals and Section 8 — Springfield, MO

As of 2024, the percent of homes in Springfield, MO under the Section 8 program is 7.8%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Springfield, MO, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD
680
Total Units Section 8
680
% Rentals under Section 8
7.8%
% Occupied Section 8
87.5%

Section 8 Opportunity

Home SizeHUD PremiumMarket RentMax HUD Rent
1 Bedroom$10$750$760
2 Bedroom$55$895$950
3 Bedroom$130$1,180$1,310
4 Bedroom-$30$1,500$1,470

Affordability — Springfield, MO

Home Price to Income Ratio

MetricZip Code Average
Home Price to Income Ratio3.6
Median Home Price$180,000
Median Household Income$46,500

Springfield, MO — ZIP Code Boundary Map

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Frequently Asked Questions