Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$270,546+3.2% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 20% have cut their price
Income needed to buy, per year$58,649About 0.9× the local median income ($68,419): affordable for a typical household
Days on market51 daysAbout the same pace as a year ago
Next 12 months+2.4%Zillow expects prices to rise slightly
The typical home in Springfield, MO is worth $270,546, up 3.2% from a year ago. That is well above what local incomes have historically supported: fair value is about $239,934, so the area is 12.8% overvalued. It is a balanced market: homes take about 51 days to sell, listings are up 3% from a year ago, 20% of listings have had a price cut. Zillow expects prices to rise about 2.4% over the next year. A household needs about $58,649 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $68,419. Typical rent is $1,251 a month, or $1,479 for a house. In the latest IRS figures, 2,243 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$270,546
Change in 1 year
+3.2%
Overvalued %
+12.8%
Show 7 more
Fair home value
$239,934
Change in 5 years
+29.3%
Zillow forecast, next 12 months
+2.4%
Home value to income
4.0×
Monthly mortgage payment (20% down)
$1,466
Income needed to afford it
$58,649
Property tax rate
0.67%
Rent and investing
Typical rent
$1,251
Typical rent for houses
$1,479
Price-to-rent ratio
18.0×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,097
Gross rental yield
5.55%
Cap rate (estimate)
3.61%
Market activity
Listings vs a year ago
+3.2%
Days on market
51
Listings with a price cut
19.7%
Show 3 more
Homes for sale
1,851
Pending sales per 100 listings
36
Asking price per sq ft
$174
People and jobs
Median household income
$68,419
Population change (1 year)
+0.9%
Unemployment rate
3.5%
Show 4 more
Population
500,694
Income adjusted for cost of living
$77,222
Net moves in (IRS)
+2,243
Cost of living (US = 100)
88.6
Schools, risk and environment
School rating (1 to 10)
6.9
FEMA hazard risk score (0 to 100)
77.5
Unhealthy air days a year
4
Show 4 more
Flood risk score
77.4
Wildfire risk score
71.8
Walkability (1 to 20)
7.1
Road, rail and air noise
54 dB
Questions people ask
Is Springfield, MO overvalued?
Home prices in Springfield, MO are well above what local incomes have historically supported: fair value is about $239,934, so the area is 12.8% overvalued.
Is Springfield, MO a buyer's or seller's market?
Springfield, MO is a balanced market: homes take about 51 days to sell, listings are up 3% from a year ago, 20% of listings have had a price cut.
Are home prices going down in Springfield, MO?
Home values in Springfield, MO are up 3.2% over the last year. Zillow's forecast for the next 12 months is +2.4%.
How much do you need to earn to buy a home in Springfield, MO?
A household needs about $58,649 a year to afford the typical home in Springfield, MO at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $68,419.