Springfield, MO—65807
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 $226,000, 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 | $226,000 | 0.3% |
| Single Family | $226,000 | 0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $107,000 | -3.6% |
2 Bed | $168,000 | 0.6% |
3 Bed | $226,000 | 0.4% |
4 Bed | $293,000 | 0.3% |
| 5 Bed | $343,000 | 0.6% |
% of Housing Stock
Rental Trends — Springfield, MO
As of July '25, Rentcast reports the average rent in Springfield, MO is $1,370, with a year-over-year rent change of 5.4%. Per bedroom, the median rent as of July '25 in Springfield, MO is studios: $936, 1-bedrooms: $942, 2-bedrooms: $1,090, 3-bedrooms: $1,530, 4-bedrooms: $2,100. The most common rental property sizes in Springfield, MO are 2-bedroom and 1-bedroom, accounting for 43.7% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,320 | $1,370 |
| Studio Rent | $895 | $936 |
| 1 Bed Rent | $892 | $942 |
| 2 Bed Rent | $1,100 | $1,090 |
| 3 Bed Rent | $1,500 | $1,530 |
| 4 Bed Rent | $1,980 | $2,100 |
% 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 39. This is a increase of 6.0% 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 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $259,000 | 0.0% |
Listing Count | 195 | 6.0% |
| Listings as % of Homes | 0.3% | 6.0% |
Days on Market | 39 | 6.0% |
Demographics — Springfield, MO
As of the latest ACS Survey released in 2023, Springfield, MO has a population of 56,700, which has decreased by -2.8% over the past 5 years. Springfield, MO is a moderately popular place for families, as children make up 16.4% of the population. The area has a moderately educated workforce, with 33.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 56,700 | -2.8% |
% Under 18 | 16.4% | 1.2% |
% Seniors | 16.7% | 10.6% |
% WFH | 9.4% | 154.1% |
% w/ College Degree | 33.1% | 14.5% |
As of the latest ACS Survey released in 2023, Springfield, MO is a predominantly white area, with 80.8% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Springfield, MO is hispanic, making up 6.9% of the population. Foreign-born residents account for 4.5% of the population in Springfield, MO, and this percentage has decreased by 2.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 80.8% | -3.6% |
% Black | 3.7% | -11.9% |
% Hispanic | 6.9% | 50.0% |
% Asian | 2.8% | 7.7% |
% Foreign Born | 4.5% | -2.2% |
Mortgage and Risk — Springfield, MO
According to HUD data as of 2023, there were 795 mortgage originations in Springfield, MO, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 30.0% 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. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 795 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 9.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Springfield, MO
As of 2024, the percent of homes in Springfield, MO under the Section 8 program is 1.8%. 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. In Springfield, MO, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 265 |
Total Units Section 8 | 246 |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$42 | $892 | $850 |
| 2 Bedroom | -$30 | $1,100 | $1,070 |
| 3 Bedroom | -$30 | $1,500 | $1,470 |
| 4 Bedroom | -$330 | $1,980 | $1,650 |
Affordability — Springfield, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $226,000 |
| Median Household Income | $50,300 |