Springfield, MO—65806
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 $131,000, with a year-over-year change of -0.0%. This indicates that home prices in Springfield, MO are flat. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $131,000 | -0.0% |
| Single Family | $129,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $100,000 | -2.9% |
2 Bed | $113,000 | -0.9% |
3 Bed | $143,000 | 2.1% |
4 Bed | $179,000 | 0.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Springfield, MO
As of July '25, Rentcast reports the average rent in Springfield, MO is $1,160, with a year-over-year rent change of 10.5%. Per bedroom, the median rent as of July '25 in Springfield, MO is studios: $650, 1-bedrooms: $804, 2-bedrooms: $1,050, 3-bedrooms: $1,280, 4-bedrooms: $2,010. The most common rental property sizes in Springfield, MO are 2-bedroom and 1-bedroom, accounting for 38.6% and 28.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,160 |
| Studio Rent | $550 | $650 |
| 1 Bed Rent | $775 | $804 |
| 2 Bed Rent | $950 | $1,050 |
| 3 Bed Rent | $1,200 | $1,280 |
| 4 Bed Rent | $1,940 | $2,010 |
% 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 44. This is a increase of 11.0% 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 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $189,000 | 5.0% |
Listing Count | 33 | 25.0% |
| Listings as % of Homes | 0.2% | 25.0% |
Days on Market | 44 | 11.0% |
Demographics — Springfield, MO
As of the latest ACS Survey released in 2023, Springfield, MO has a population of 14,000, which has increased by 17.6% over the past 5 years. Springfield, MO is a less popular place for families, as children make up 8.2% of the population. The area has a poorly educated workforce, with 21.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,000 | 17.6% |
% Under 18 | 8.2% | -37.4% |
% Seniors | 7.7% | 4.1% |
% WFH | 8.8% | 203.4% |
% w/ College Degree | 21.9% | 42.2% |
As of the latest ACS Survey released in 2023, Springfield, MO is a predominantly white area, with 74.6% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Springfield, MO is hispanic, making up 6.8% of the population. Foreign-born residents account for 6.9% of the population in Springfield, MO, and this percentage has increased by 11.3% 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 | 74.6% | -5.0% |
% Black | 6.4% | -28.1% |
% Hispanic | 6.8% | 17.2% |
% Asian | 3.4% | -26.1% |
% Foreign Born | 6.9% | 11.3% |
Mortgage and Risk — Springfield, MO
According to HUD data as of 2023, there were 54 mortgage originations in Springfield, MO, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 85.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Springfield, MO. Investor activity is high, as 31.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 54 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 31.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 2.0% |
Loan Activity
Rentals and Section 8 — Springfield, MO
As of 2024, the percent of homes in Springfield, MO under the Section 8 program is 4.5%. 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 | 756 |
Total Units Section 8 | 302 |
% Rentals under Section 8 | 4.5% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $5 | $775 | $780 |
| 2 Bedroom | $30 | $950 | $980 |
| 3 Bedroom | $150 | $1,200 | $1,350 |
| 4 Bedroom | -$430 | $1,940 | $1,510 |
Affordability — Springfield, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $131,000 |
| Median Household Income | $28,400 |