Springfield, MO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Springfield, MO Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Springfield Housing Market Information

With a population of 166,808, 71,268 total housing units (homes and apartments), and a median house value of $112,241, house prices in Springfield are solidly below the national average.

Single-family detached homes are the single most common housing type in Springfield, accounting for 62.52% of the city's housing units. Other types of housing that are prevalent in Springfield include large apartment complexes or high rise apartments ( 24.31%), duplexes, homes converted to apartments or other small apartment buildings ( 7.34%), and a few row houses and other attached homes ( 3.54%).

People in Springfield primarily live in small (one, two or no bedroom) single-family detached homes. Springfield has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Springfield built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Springfield built between 1940-1969 ( 30.61%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.43%). There's also some housing in Springfield built before 1939 ( 12.35%).

Springfield Home Appreciation Rates

Real estate appreciation rates in Springfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.43% during the period.

NeighborhoodScout's data show that during the latest twelve months, Springfield's appreciation rate, at 3.19%, has been at or slightly above the national average. In the latest quarter, Springfield's appreciation rate has been -0.81%, which annualizes to a rate of -3.19%.

Notably, Springfield's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Missouri, our data show that Springfield's latest annual appreciation rate is higher than 50% of the other cities and towns in Missouri.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Springfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Springfield - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Springfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$112,241

Springfield, MO HOME PRICES

Value Range
> $1,086,000 0.3
$815,001 - $1,086,000 0.2
$543,001 - $815,000 0.6
$434,001 - $543,000 0.8
$326,001 - $434,000 2.7
$217,001 - $326,000 7.2
$109,001 - $217,000 38.2
$54,001 - $109,000 38.7
$0 - $54,000 11.3

Average for MO
Low for Nation

Value Relative to Nation Value Relative to State
69.9929684753311 59.8

Number Of Homes And Apartments:
71,268

Springfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
25.61% 1.33% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$844 / per month

Homeownership Rate

Homeownership
Owners 43.26
Renters 56.74
Vacant 9.55

Housing Market Details

 

Age of Homes

AGE OF Springfield HOMES
2000 or Newer 12.4
1970 - 1999 44.6
1940 - 1969 30.6
1939 or Older 12.3

Types of Homes

TYPE OF Springfield HOMES
Single-Family 62.5
Townhomes 3.5
Small Apt. Buildings 7.3
Apt. Complexes 24.3
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Springfield HOMES
No Bedroom 2.58
1 Bedroom 13.74
2 Bedrooms 35.23
3 Bedrooms 38.26
4 Bedrooms 7.99
5 or more bedrooms 2.21