Springfield, MO—65809
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 $438,000, with a year-over-year change of 1.6%. This indicates that home prices in Springfield, MO are increasing. 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 | $438,000 | 1.6% |
| Single Family | $440,000 | 1.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $276,000 | 1.1% |
3 Bed | $339,000 | 1.8% |
4 Bed | $464,000 | 1.8% |
| 5 Bed | $584,000 | 1.7% |
% of Housing Stock
Rental Trends — Springfield, MO
As of July '25, Rentcast reports the average rent in Springfield, MO is $1,860, with a year-over-year rent change of -13.9%. Per bedroom, the median rent as of July '25 in Springfield, MO is 1-bedrooms: $965, 2-bedrooms: $2,000, 3-bedrooms: $1,930, 4-bedrooms: $2,400. The most common rental property sizes in Springfield, MO are 2-bedroom and 3-bedroom, accounting for 50.5% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,860 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $965 | $965 |
| 2 Bed Rent | $2,000 | $2,000 |
| 3 Bed Rent | $1,800 | $1,930 |
| 4 Bed Rent | $2,400 | $2,400 |
% 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 60. This is a increase of 2.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $644,000 | 27.0% |
Listing Count | 73 | 2.0% |
| Listings as % of Homes | 0.7% | 2.0% |
Days on Market | 60 | 2.0% |
Demographics — Springfield, MO
As of the latest ACS Survey released in 2023, Springfield, MO has a population of 11,200, which has decreased by -4.1% over the past 5 years. Springfield, MO is a moderately popular place for families, as children make up 20.6% of the population. The area has a highly educated workforce, with 55.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,200 | -4.1% |
% Under 18 | 20.6% | -9.6% |
% Seniors | 28.4% | 37.2% |
% WFH | 8.6% | -10.4% |
% w/ College Degree | 55.8% | -4.3% |
As of the latest ACS Survey released in 2023, Springfield, MO is a predominantly white area, with 89.3% 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 asian, making up 4.9% of the population. Foreign-born residents account for 4.4% of the population in Springfield, MO, and this percentage has increased by 91.3% 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 | 89.3% | -5.0% |
% Black | 1.1% | 120.0% |
% Hispanic | 2.3% | 9.5% |
% Asian | 4.9% | 250.0% |
% Foreign Born | 4.4% | 91.3% |
Mortgage and Risk — Springfield, MO
According to HUD data as of 2023, there were 319 mortgage originations in Springfield, MO, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Springfield, MO. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 319 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Springfield, MO
As of 2024, the percent of homes in Springfield, MO under the Section 8 program is 0.2%. 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 | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$85 | $965 | $880 |
| 2 Bedroom | -$890 | $2,000 | $1,110 |
| 3 Bedroom | -$270 | $1,800 | $1,530 |
| 4 Bedroom | -$690 | $2,400 | $1,710 |
Affordability — Springfield, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $438,000 |
| Median Household Income | $109,000 |