Photo: Raschmidt87 · CC BY-SA 4.0Measured against area pay, Springfield costs less to live in than 53% of U.S. towns
It ranks #171 of 247 in Missouri and #32 of 400 U.S. cities over 100,000 for affordability. Up 3.1% in a year, 8% below the Missouri typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Springfield, MO metro area ($65K). How TownRatings grades cost of living
The grade compares costs with what households across the Springfield metro earn ($65K, Census 2020–24). The typical home costs 2.7 years of metro income, and 49% of renters pay 30% or more of income for housing.
In dollars
- $244Ktypical home, 8% below the Missouri typical homeZillow, September 2026
- $1,090a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 89prices across the Springfield metro, where the U.S. is 100 (housing 66)BEA Regional Price Parities, 2024
In paychecks the grade
- 2.7 yrsof area income buys the typical home; the typical U.S. town: 3.3$65K, Springfield-area income
- 18%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 49%of renters pay 30%+ of income for housing; across Missouri: 46%Census 2020–24
- 21%of owners do; the typical U.S. town: 20%Census 2020–24
What Springfield’s housing numbers say
Homes sell above the asking price
In September, 0.5% of the homes that sold went for more than the asking price and 48% went under contract within two weeks. There were about 2.4 months of homes for sale at that pace, against 3.4 across Missouri: 450 listings for 194 sales that month. Expect competition on well-priced homes. How fast homes sell ↓
Most Springfield households rent
56% of households rent their home, 42,188 in all, against 32% across Missouri. Renting ↓
A burst of building in 2021
Springfield permitted 877 new homes in 2021, 93% of them in buildings with two or more homes, against about 323 in a typical year of the past decade. 2025 came in at 208. New homes ↓
Most new homes are apartments and condos
Of the 3,785 homes permitted in Springfield’s past 10 years, 71% were in buildings with two or more homes, not single-family houses. New homes ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; sales and supply are Redfin’s for September 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Springfield’s grade
Measured against what households in the area earn, Springfield is more affordable than 53% of U.S. towns, #171 of 247 in Missouri. The share of households paying 30%+ for housing pulls the grade down most; property tax holds it up.
Prices here have kept pace with Missouri: up 30.5% in five years, against 26.3% statewide (Zillow).
Up 30.5% in five years
Faster than Missouri (26.3%).
Show as a table
| January | Springfield | Missouri |
|---|---|---|
| 2017 | $122,000 | $147,000 |
| 2018 | $129,000 | $155,000 |
| 2019 | $139,000 | $163,000 |
| 2020 | $149,000 | $171,000 |
| 2021 | $168,000 | $191,000 |
| 2022 | $196,000 | $217,000 |
| 2023 | $220,000 | $234,000 |
| 2024 | $230,000 | $245,000 |
| 2025 | $237,000 | $255,000 |
| 2026 | $240,000 | $260,000 |
| September 2026 | $244,000 | $265,000 |
A typical Springfield home worth $119K in October 2016 is worth about $244K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A seller's market
Supply is tight — about 2.4 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Under ~4 months of supply favors sellers; over ~6 favors buyers.
Redfin Data Center, all residential sales, September 2026.
A typical home costs 2.7 years of area income
The calculator starts from the area income the grade uses. Switch to Springfield’s own median, or type yours.
That covers a typical Springfield home, with $15K to spare.
A two-bedroom rents for about $1,090 a month here, $340 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Springfield’s typical property tax (0.75% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,090
Renters already here pay a median of $964, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Springfield, MO HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
208 new homes permitted in 2025
Builders were permitted 208 new homes in Springfield in 2025: 123 single-family houses and 85 in buildings with two or more homes, worth about $47.8 million to build. That's 1.2 per 1,000 residents, slower than across Missouri (3.7). Over the past 10 years, Springfield has permitted 3,785 homes in all.
Between the 2010 and 2020 censuses, Springfield gained 9,678 residents while 6,738 new homes were permitted: about 1.4 new residents per new home. Building outpaced population growth, which usually means smaller households or homes used part of the year. Across Missouri: 1.1 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 70 | 42 | 28 | $15.7 million |
| 2025 | 208 | 123 | 85 | $47.8 million |
| 2024 | 127 | 113 | 14 | $35.6 million |
| 2023 | 107 | 75 | 32 | $25.9 million |
| 2022 | 273 | 155 | 118 | $57.3 million |
| 2021 | 877 | 58 | 819 | $65.2 million |
| 2020 | 442 | 118 | 324 | $82.9 million |
| 2019 | 132 | 96 | 36 | $22.2 million |
| 2018 | 429 | 106 | 323 | $66.8 million |
| 2017 | 570 | 162 | 408 | $74.2 million |
| 2016 | 620 | 97 | 523 | $63.5 million |
| 2015 | 1,087 | 154 | 933 | $65.7 million |
| 2014 | 1,116 | 146 | 970 | $65.8 million |
| 2013 | 968 | 152 | 816 | $60.4 million |
| 2012 | 772 | 126 | 646 | $48.8 million |
| 2011 | 563 | 98 | 465 | $36.4 million |
| 2010 | 481 | 105 | 376 | $33.9 million |
| 2009 | 503 | 103 | 400 | $34.6 million |
| 2008 | 925 | 125 | 800 | $54.9 million |
| 2007 | 1,360 | 189 | 1,171 | $83.6 million |
| 2006 | 1,292 | 412 | 880 | $96.6 million |
| 2005 | 1,108 | 443 | 665 | $100.4 million |
| 2004 | 768 | 498 | 270 | $90.9 million |
| 2003 | 823 | 394 | 429 | $80.9 million |
| 2002 | 1,016 | 486 | 530 | $80.3 million |
| 2001 | 533 | 404 | 129 | $52.9 million |
| 2000 | 944 | 377 | 567 | $66 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the Missouri norm
The median bill is $1,326 (Missouri: $1,948), 0.75% of a home’s value a year, against 0.85% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Springfield
Only figures published free for the whole country, each labeled with the area it covers: the Springfield, MO metro area, or Missouri. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 89 | MO 91 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 94 | MO 96 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 86 | MO 79 | metro | BEA, 2024 |
| Other services U.S. = 100 | 93 | MO 95 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Springfield vs. its neighbors
Of the 3 towns here with a Zillow value, Springfield has the lowest.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Springfield | B− | $244K | $178K | 0.75% | $1,090 |
| Republic | B− | $270K | $212K | 0.75% | $1,170 |
| Willard | B | $272K | $213K | 0.80% | $1,220 |
Questions about the cost of living in Springfield
Is Springfield expensive to live in?
Measured against what households in the area earn, Springfield costs less than 53% of U.S. towns: a B− for cost of living, #171 of 247 in Missouri. The typical home costs 2.7 years of the median household income of the Springfield, MO metro area ($65K).
How much does a house cost in Springfield?
About $244K, Zillow’s typical value for September 2026, up 3.0% in a year. The Missouri typical home is $265K.
What salary do you need to live in Springfield?
To buy the typical home with 20% down at 6.3%, about $61,000 a year, keeping the payment (about $1,430 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $44,000.
How much is rent in Springfield?
HUD puts a two-bedroom at about $1,090 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $964 (Census 2020–24).
What are property taxes in Springfield?
The median bill is $1,326 a year, 0.75% of the median home value (Missouri: $1,948, 0.85%), from the Census 2020–24.
Are home prices in Springfield going up?
Yes: up 3.0% in the past year and 30.5% in five years, against 26.3% across Missouri (Zillow).
Neighbors talk housing
What Springfield buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.