Springfield, MO—65810
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 $344,000, with a year-over-year change of -0.2%. This indicates that home prices in Springfield, MO are flat. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $344,000 | -0.2% |
| Single Family | $344,000 | -0.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $210,000 | -0.5% |
3 Bed | $286,000 | -0.7% |
4 Bed | $380,000 | 0.0% |
| 5 Bed | $484,000 | 0.2% |
% of Housing Stock
Rental Trends — Springfield, MO
As of July '25, Rentcast reports the average rent in Springfield, MO is $1,910, with a year-over-year rent change of 1.6%. Per bedroom, the median rent as of July '25 in Springfield, MO is studios: $825, 1-bedrooms: $985, 2-bedrooms: $1,320, 3-bedrooms: $1,780, 4-bedrooms: $2,570. The most common rental property sizes in Springfield, MO are 2-bedroom and 3-bedroom, accounting for 43.9% and 21.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,910 |
| Studio Rent | $825 | $825 |
| 1 Bed Rent | $945 | $985 |
| 2 Bed Rent | $1,400 | $1,320 |
| 3 Bed Rent | $1,700 | $1,780 |
| 4 Bed Rent | $2,350 | $2,570 |
% 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 56. This is a increase of 20.0% 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 | $450,000 | 4.0% |
Listing Count | 166 | 36.0% |
| Listings as % of Homes | 0.7% | 36.0% |
Days on Market | 56 | 20.0% |
Demographics — Springfield, MO
As of the latest ACS Survey released in 2023, Springfield, MO has a population of 22,100, which has decreased by -2.8% over the past 5 years. Springfield, MO is a moderately popular place for families, as children make up 20.8% of the population. The area has a highly educated workforce, with 46.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,100 | -2.8% |
% Under 18 | 20.8% | -5.5% |
% Seniors | 24.2% | 21.0% |
% WFH | 16.1% | 235.4% |
% w/ College Degree | 46.7% | 2.4% |
As of the latest ACS Survey released in 2023, Springfield, MO is a predominantly white area, with 88.5% of the population identifying as white. The white population has grown by 1.8% in the last 5 years. The second most common race or ethnicity in Springfield, MO is hispanic, making up 3.5% of the population. Foreign-born residents account for 3.8% of the population in Springfield, MO, and this percentage has decreased by 9.5% 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 | 88.5% | 1.8% |
% Black | 2.4% | -33.3% |
% Hispanic | 3.5% | 25.0% |
% Asian | 3.2% | -20.0% |
% Foreign Born | 3.8% | -9.5% |
Mortgage and Risk — Springfield, MO
According to HUD data as of 2023, there were 609 mortgage originations in Springfield, MO, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Springfield, MO. Investor activity is low, as 4.0% 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 | 609 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 4.0% |
% 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 0.8%. 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 | 21 |
Total Units Section 8 | 21 |
% Rentals under Section 8 | 0.8% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$35 | $945 | $910 |
| 2 Bedroom | -$260 | $1,400 | $1,140 |
| 3 Bedroom | -$130 | $1,700 | $1,570 |
| 4 Bedroom | -$590 | $2,350 | $1,760 |
Affordability — Springfield, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $344,000 |
| Median Household Income | $90,600 |