Springfield, MO
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
moderate
Price to income
3.47×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Missouri
- 2.93×
- vs U.S.
- 3.43×
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
21.4%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Missouri
- 19.4%
- vs U.S.
- 23.3%-1.9
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.00%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Missouri
- 4.00%=
- vs U.S.
- 4.35%
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.09%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Missouri
- -0.02%+0.11
- vs U.S.
- 0.03%+0.07
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
3.77
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Missouri
- 2.99+0.78
- vs U.S.
- 3.52+0.25
Benchmark
Census BPS permits TTM ÷ population × 1,000
very tight labor market
Unemployment
2.9%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Missouri
- 3.0%-0.1
- vs U.S.
- 3.9%-1.0
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+60.3%
homeValues.yearOverYear
+4.4%
Median home value
$213,400
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $883 | $10,596 | 17.2% |
| 2 BR | $1,095 | $13,140 | 21.4% |
| 3 BR | $1,498 | $17,976 | 29.2% |
Labor market direction
Unemployment
2.9%
Median household income
$61,488
What's being built
Total TTM
1,799
+9.7% YoY
Single-family
1,453
2–4 unit
100
5+ unit
246
All 5 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Greene County | 299,188 | $203,500 | $57,488 | 958 | +0.1% |
| Christian County | 89,568 | $249,700 | $81,245 | 547 | +11.9% |
| Webster County | 39,265 | $219,100 | $69,731 | 206 | +70.3% |
| Polk County | 31,877 | $189,600 | $56,686 | 75 | |
| Dallas County | 17,158 | $151,200 | $53,177 | 13 | +62.5% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Springfield | 477,056 | $61,488 | 3.47× | 4.00% | +60.3% | 3.77 | 2.9% |
| Lafayette, LA | 479,865 | $60,910 | — | — | +24.9% | — | 3.6% |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 496,299 | $64,623 | — | — | +65.0% | — | 5.9% |
| Killeen-Temple, TX | 477,577 | $67,203 | — | — | +51.7% | — | 4.4% |
| Fayetteville, NC | 522,537 | $58,909 | — | — | +62.6% | — | 4.3% |
| Mobile, AL | 429,312 | $58,119 | — | — | +51.1% | — | 2.8% |
Where people are moving in from
Net migration
+448
+0.09% of population
| Origin county | Tax returns |
|---|---|
| Greene County, MO | 2,367 |
| Christian County, MO | 1,572 |
| Webster County, MO | 538 |
| Taney County, MO | 525 |
| Polk County, MO | 351 |
| Lawrence County, MO | 314 |
Who lives in Springfield
- Median age
- 37
- Bachelor's+
- 29.9%
- Owner-occupancy
- 63.0%
- Vacancy rate
- 5.7%
- Rent burdened (30%+)
- 43.4%
- Median household income
- $61,488
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.