Springfield, MO Housing Market
AI-powered market intelligence for the Springfield, MO metro area.
PropertyIQ Scores
Springfield, MO Market Analysis
Market Overview
Springfield, MO presents a moderate housing market with a PropertyIQ Score of 65 out of 100, reflecting a mix of strengths and caution signals. The median home value is $272,185, slightly above the state average of $267,879, while the rent index of $1,245 is well above the state average of $996. The local unemployment rate of 3.1% is also lower than the state average of 3.6%, which generally supports housing demand. However, median household income is $61,488, below the state average of $68,920, indicating some affordability pressure for local residents.
The PropertyIQ Score is driven by several key factors: 12-month home value momentum of 5.09%, 3-month home value momentum of -0.07%, median days on market of 51 days, and a 17.8% share of listings with a price cut. These drivers show a market that has seen annual price growth but is now cooling in the short term. The positive 12-month momentum suggests some appreciation over the past year, while the slightly negative 3-month momentum and the notable share of price cuts point to a more negotiable environment.
With 1,676 homes for sale and a median days on market of 51 days, Springfield’s pace is steady rather than overheated. Overall, the market’s fundamentals sit between strength and caution: rental metrics and employment are relatively favorable, while income levels and recent price signals temper the near-term growth outlook.
Key Trends
First, price momentum is cooling. The 12-month home value momentum of 5.09% shows positive annual movement, but the 3-month momentum of -0.07% indicates that prices have essentially flattened or ticked slightly downward in the most recent quarter. This cooling is reinforced by the 17.8% share of listings with a price cut, meaning nearly one in five sellers has reduced the asking price to attract buyers.
Second, the rental market looks comparatively strong. Springfield’s rent index of $1,245 is $249 higher than the state average of $996, which suggests elevated local rents relative to the rest of the state. That gap may reflect steady renter demand or a tighter rental supply, and it stands out as a positive signal for income-focused investors.
Third, the market pace is moderate. A median days on market of 51 days and 1,676 homes for sale indicate that buyers have some selection and time to make decisions. State benchmarks are not provided for days on market or inventory, but these figures alone suggest a balanced environment rather than a strong seller’s market.
Fourth, affordability is a constraint. The median home value of $272,185 is above the state average of $267,879, but median household income is $61,488, which is below the state average of $68,920. Additionally, the reported year-over-year home value change is just $4, which suggests minimal dollar appreciation despite the 12-month percentage momentum. Population growth data is listed as N/A, so it cannot be used to assess demand trends.
Who Is This Market For
Springfield’s profile suits a mix of rental-focused investors and patient owner-occupants. The rent index of $1,245 compared with the state average of $996 makes the rental market an attractive relative opportunity for investors, especially with a low unemployment rate of 3.1% supporting tenant demand. Investors who prioritize cash flow over rapid appreciation may find Springfield compelling.
For first-time buyers, the picture is mixed. The median home value of $272,185 is slightly above the state average, while median household income is below the state average at $61,488. That creates a tighter affordability picture, though the 17.8% share of listings with a price cut and a median days on market of 51 days may give buyers more room to negotiate than in a hot seller’s market.
Move-up buyers and existing homeowners may be well positioned. The cooling 3-month momentum of -0.07% and moderate pace mean less competition, while the low unemployment rate can support confidence in local jobs. However, the minimal reported year-over-year home value change of $4 means buyers should not expect rapid equity gains in the near term.
Outlook
The near-term outlook for Springfield is likely to be defined by slow or flat price growth. The 3-month home value momentum of -0.07% and a 17.8% share of listings with price cuts suggest that sellers are adjusting to buyer resistance. The median days on market of 51 days and 1,676 homes for sale point to balanced conditions without strong upward pressure. At the same time, the 12-month momentum of 5.09% shows that annual appreciation has been positive, and a low unemployment rate of 3.1% may continue to support housing demand. The above-state-average rent index of $1,245 could sustain investor interest. However, the below-state-average median household income of $61,488 may keep significant price acceleration in check. With population growth data listed as N/A, it is not possible to determine whether demographic demand is expanding or contracting.
AI-generated analysis based on current market data. Last updated September 25, 2026.
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Springfield, MO market data
Springfield, MO Housing Market Overview
Springfield, MO's median home value is $272K, up 5.1% over the past year. Homes here sell in a median 51 days. Its PropertyIQ Score of 65 sits well above the state average of 50, marking a market positioned to outperform its state over the next three years.
The Springfield, MO metropolitan area represents a distinct segment of MO's housing landscape. The PropertyIQ Score combines price momentum — how Zillow home values have trended over the past 3 and 12 months — with market-flow signals from Realtor.com that track how fast homes sell and how often sellers cut prices. The result is a single measure of how this market is positioned to outperform or lag its state over the next three years.
Midwestern housing markets are characterized by affordability and economic diversification. From manufacturing hubs undergoing tech-sector transitions to university towns with stable demand, the region offers value-oriented opportunities with lower entry costs than coastal markets. Within the Midwest, Springfield, MO's PropertyIQ Score of 65 ranks among the Midwest's stronger demand signals.
The PropertyIQ Score for the Springfield, MO market is built from four inputs: Zillow home-value momentum over twelve months, Zillow home-value momentum over three months, the median days listings spend on the market (Realtor.com), and the share of listings with a price cut (Realtor.com). The score runs on a 1 to 99 scale computed across all metro markets nationally and calibrated so 50 equals the state average — a score above 50 means this market is positioned to outperform its state, and a score below 50 means it is set to lag. Momentum here has been positive, with home values up 5.1% over the past year.
Use PropertyIQ's interactive analytics to compare Springfield, MO against any other US metro on its PropertyIQ Score and underlying metrics. Generate a free AI market report, explore historical trends on the graphs page, or see how this market ranks on the scores dashboard.
Counties in the Springfield, MO metro area
ZIP codes in the Springfield, MO metro area
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Market data through August 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Springfield, MO a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Springfield, MO currently scores 65, a firming-momentum reading that leaves it positioned to outperform its state over the next three years. For buyers, strengthening demand usually means rising competition and firmer prices, so waiting can cost you negotiating room. Backing that up, the median home value here is $272K, up 5.1% over the past year. So whether Springfield, MO is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Springfield, MO?
Springfield, MO's PropertyIQ Score is 65, indicating firming momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 65 places Springfield, MO above its state benchmark.
Are home prices in Springfield, MO rising or falling?
Home prices in Springfield, MO are rising. Over the past year, the median home value increased 5.1%, reaching $272K. Over the latest three months, values slipped 0.1%, a sign near-term demand is softening. PropertyIQ derives these figures from Zillow's home-value index, which tracks the typical value across the market rather than only the homes that happened to sell, giving a steadier read than a raw median sale price. Both the 12-month and 3-month momentum readings feed directly into the PropertyIQ Score, so this price trend is one of the core signals behind Springfield, MO's current score. Keep in mind that appreciation can vary widely by neighborhood and price tier across the metro area, so treat these figures as the market-wide baseline rather than a guarantee for any single property.
How quickly do homes sell in Springfield, MO?
In Springfield, MO, homes sell in a median of 51 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 18% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Springfield, MO market data is refreshed on a monthly cycle, with the latest figures current through August 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.