Springfield, MO—65803
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 $180,000, 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 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $180,000 | 0.0% |
| Single Family | $181,000 | 0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $78,000 | -4.9% |
2 Bed | $115,000 | -3.4% |
3 Bed | $196,000 | 0.5% |
4 Bed | $308,000 | 1.0% |
| 5 Bed | $387,000 | 1.3% |
% of Housing Stock
Rental Trends — Springfield, MO
As of July '25, Rentcast reports the average rent in Springfield, MO is $1,120, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Springfield, MO is studios: $680, 1-bedrooms: $822, 2-bedrooms: $928, 3-bedrooms: $1,350, 4-bedrooms: $1,500. The most common rental property sizes in Springfield, MO are 2-bedroom and 3-bedroom, accounting for 50.0% and 23.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,020 | $1,120 |
| Studio Rent | $655 | $680 |
| 1 Bed Rent | $750 | $822 |
| 2 Bed Rent | $895 | $928 |
| 3 Bed Rent | $1,180 | $1,350 |
| 4 Bed Rent | $1,500 | $1,500 |
% 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 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.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $204,000 | -8.0% |
Listing Count | 224 | 10.0% |
| Listings as % of Homes | 0.5% | 10.0% |
Days on Market | 52 | 16.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,200 | 5.2% |
% Under 18 | 22.8% | 4.6% |
% Seniors | 15.4% | -1.9% |
% WFH | 8.1% | 131.4% |
% w/ College Degree | 22.3% | 8.3% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $180,000 |
| Median Household Income | $46,500 |