Springfield housing market
Typical home value
$271K
▲ 3.2% 1 yr
Typical rent
$1,251/mo
▲ 5.5% 1 yr
12-month forecast
+2.4%
#214 of 546 metros
Gross rent yield
5.5%
#335 of 546 · U.S. 6.3%
Days to pending
43 days
▼ −3 days 1 yr
Listings with a price cut
28%
▼ −0.6 pts 1 yr
Key takeaways
- 1The typical home is worth $270,546, up 3.2% in a year and up 29% over five years.
- 2Zillow forecasts home values rising 2.4% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,251/mo (+5.5% YoY), a 5.5% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,487/mo in principal and interest, $236 more than renting.
- 5Homes go under contract in 43 days (−3 days vs last year); 28% of listings have had a price cut.
Market temperature
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 40/100, #271 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Springfield compares
| Measure | Springfield | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +3.2% | +1.2% | #183 |
| Home value, 5-yr change | +29.3% | +19.7% | |
| 12-month forecast | +2.4% | +1.1% | #214 |
| Rent, 1-yr change | +5.5% | +2.7% | #95 |
| Gross rent yield | 5.5% | 6.3% | #335 |
| Price-to-rent ratio | 18.0 | 15.8 | |
| Mortgage P&I on typical home | $1,487 | $2,012 | |
| Income needed to buy | $74,356 | $100,902 | |
| Days to pending | 43 | 56 |
Cities in the Springfield metro
4 cities with home value and rent data.
| Springfield | $244K | ▲ 3.1% | $1,192 | ▲ 6.0% | 5.9% |
| Ozark | $322K | ▲ 2.1% | $1,566 | ▲ 6.7% | 5.8% |
| Nixa | $324K | ▲ 2.6% | $1,582 | ▲ 5.5% | 5.9% |
| Republic | $270K | ▲ 2.8% | $1,393 | ▼ 0.3% | 6.2% |
Run the numbers
Rental property calculator
Cash flow on a typical Springfield rental ($271K, $1,251/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Springfield home.
Rent vs buy
Is it cheaper to rent or buy in Springfield?
Other Missouri metros
St. Louis, MO
$273K home$1,427 rent6.3% yield
▲ 3.3% 1 yr
Kansas City, MO
$325K home$1,534 rent5.7% yield
▲ 3.7% 1 yr
Columbia, MO
$319K home$1,457 rent5.5% yield
▲ 2.7% 1 yr
Joplin, MO
$227K home$1,242 rent6.6% yield
▲ 2.6% 1 yr
Jefferson City, MO
$275K home$1,010 rent4.4% yield
▲ 7.1% 1 yr
St. Joseph, MO
$212K home$1,004 rent5.7% yield
▲ 4.9% 1 yr
Cape Girardeau, MO
$226K home$1,013 rent5.4% yield
▲ 4.3% 1 yr
Branson, MO
$246K home$1,344 rent6.6% yield
▼ 0.6% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.