 |
Property Makler
Advanced analytics for residential real estate investing | ||||||||
|
Dubai, UAE US |
Dubai US Market Research
Springfield, MO housing market
Housing market indicators
| Indicator | 2022 | 2023 | 2024 | 2025* | Change | 2022 | 2023 | 2024 | YTD |
|---|---|---|---|---|---|---|---|---|---|
| Median Listing Price per Square Feet | $159 | $162 | $168 | $169 | 15.2% | 1.9% | 3.7% | 0.6% | |
| Active Listing Count | 1,023 | 1,136 | 1,587 | 1,792 | 96.4% | 11% | 39.7% | 12.9% | |
| Median Days on Market | 54 | 50 | 64 | 51 | 25.6% | -7.4% | 28% | -20.3% | |
| Share of listings with price increase | 0.5% | 0.4% | 0.5% | 0.4% | |||||
| Share of listings with price decrease | 11.5% | 15.1% | 15.7% | 16.9% | |||||
* last available value
Home prices
Short term housing supply drivers
Long term housing demand drivers
Long term housing supply drivers
Note: 12M MA - 12 months moving average, Permits - New Private Housing Structures Authorized by Building Permits. Source: FRED
Housing market overview
Cities/Towns in Springfield, MO MSA
| Area | City/town | Population | Density | Income | Quality of Schools | Crime level | Property tax (%) | Comments |
|---|---|---|---|---|---|---|---|---|
| Greene County | Springfield | 170,000 (est. 2024) | 2,036/sq mi | Median | GreatSchools 4-9 | Moderate | 0.93% | Core urban center, largest city, commercial hub |
| Greene County | Republic | 24,000 | 1,200/sq mi | Above average | GreatSchools 6-10 | Low | 0.93% | Fast-growing suburb south of Springfield |
| Christian County | Nixa | 25,000 | 1,100/sq mi | Median-high | GreatSchools 5-9 | Low | 0.48% | Southern suburb, family-oriented |
| Christian County | Ozark | 21,000 | 900/sq mi | Median | GreatSchools 6-8 | Low-moderate | 0.48% | County seat, growing residential |
| Webster County | Rogersville | 3,400 | 500/sq mi | Median | GreatSchools 5-7 | Low | 0.45% | Rural northeast edge |
| Polk County | Bolivar | 10,000 | 300/sq mi | Low-median | GreatSchools 3-6 | Low | 0.38% | Northern rural area |
| Dallas County | Buffalo | 3,200 | 200/sq mi | Low | GreatSchools 4-6 | Low | 0.35% | Northwest rural fringe |
To view all table columns, please open this table on a laptop or desktop screen.
- Springfield MSA includes Greene, Christian, Webster, Polk, Dallas counties; total population 497,000 (2024 est.)
- Key regions: Central urban (Springfield/Greene), southern suburbs (Christian County), northern rural (Polk/Dallas), northeast exurban (Webster)
- Land area 7,788 sq km; density 64/sq mi metro-wide
- No local personal income tax; Missouri state income tax applies uniformly
Citizens: Income and Education
- Median household income MSA: $56,000 (2023 ACS)
- Per capita income: $32,000
- 25% households over $75,000; 20% under $25,000
- Bachelor's degree or higher: 29% adults 25+ (above state average)
- High school graduate or higher: 92%
- Largest groups: Some college (32%), high school (30%)
- Urban Springfield lower income/education vs. suburbs like Nixa/Republic
Key Economic Sectors
- Healthcare/education: 20% employment; major employers Missouri State University, CoxHealth, Mercy Hospital
- Manufacturing: 12%; automotive parts, food processing
- Retail/wholesale trade: 15%; Walmart HQ influence nearby
- Logistics/transport: 8%; I-44 corridor hub
- Professional services/finance: 10%
- Government: 6%; federal/state/local
- Tourism/hospitality: 7%; Ozarks attractions
- Unemployment rate: 3.2% (2024)
- Recent job growth: 1.5% annually past 5 years
Housing Buying Market: Supply Drivers
- Zoning openness: Moderate; Springfield allows density in urban core, suburbs restrictive single-family focus
- Regulatory strictness: Low-moderate; streamlined permitting in Greene/Christian counties, 6-9 month build time
- Construction workforce cost: Low; labor $25-35/hr, below national average
- Land availability: High in rural counties; urban infill limited
- New permits: 2,500 units/year (2023), up 10% YoY
- Inventory: 3.5 months supply single-family (2024)
Housing Buying Market: Demand Drivers
- Net migration in: +5,000/year past decade; domestic from high-cost states (CA, IL)
- Population growth: 1.2% annually; MSA from 476k (2020) to 497k (2024)
- Growing industries: Healthcare (+2%/yr jobs), logistics (+3%), manufacturing resurgence
- Declining: Traditional retail (-1%/yr)
- Affordability draws families; median home $220,000 vs. national $400k
- Remote work influx post-2020 boosted suburbs
Key Challenges on the Housing Market
- Inventory shortage: 3-4 months supply; bidding wars in suburbs
- Affordability strain: Median price up 25% since 2020 to $230k
- Interest rates: 6-7% impacting first-time buyers
- Labor shortages in construction: Skilled trades gap slows builds
- Urban revitalization: Older Springfield stock needs updates
- Flood risk in lowlands; insurance costs rising
- Rentals tight: 5% vacancy, rents +15% YoY
Investment Potential Differences Between Geographic Areas/Regions
| Area | Appreciation potential | Risk | Key drivers |
|---|---|---|---|
| Central Springfield (Greene urban) | Medium | Medium-high | Revitalization projects, rental demand, but crime/maintenance issues |
| South suburbs (Nixa/Ozark/Republic, Christian) | High | Low | Population boom, family migration, new construction, school quality |
| Northeast exurban (Rogersville, Webster) | Medium-high | Low-medium | Commuter growth, land availability, highway access |
| Northern rural (Bolivar/Buffalo, Polk/Dallas) | Low | High | Limited jobs, aging population, slow development |
- South suburbs lead appreciation at 6-8%/yr past 5 years
- Overall MSA median price growth: 5%/yr
- Risks higher in rural due to economic stagnation
Property Makler © 2026 Contacts T&C About