Springfield, MO
Greene County · Pop. 169,176
Ranked #42 of 243 cities
54Moderate
Median Home Price
🏠$210K
4.0% YoY
Median Rent
🔑$1,050
3.0% YoY
Median Income
💰$42K
Rent Burden
📊31.0%
% of income to rent
Income to Buy
🏦$60K
annual income needed
Income to Rent
📝$42K
annual income needed
Price-to-Income
⚖️5.0x
Homeownership
🏡48.0%
Rent vs. Buy
Buy
$1,118/mo
Est. mortgage (7%, 20% down)
Need $60K/yr income
Rent
$1,050/mo
Median rent
Need $42K/yr income
How Springfield Compares
| Metric | Springfield | Missouri | National |
|---|---|---|---|
| Home Price | $210K | $234K | $410K |
| Rent | $1,050 | $1,019 | $1,500 |
| Income | $42K | $69K | $75K |
| Rent Burden | 31.0% | 28.5% | 30.0% |
Key Takeaways
- • Home prices in Springfield are 49% lower than the national average.
- • Rent is 30% lower than the national average.
- • You need an income of $60K to comfortably buy a home here.
- • The homeownership rate is 48.0%, compared to 65.0% nationally.