The housing market in Springfield, MO is a strong one. The median value of homes in the city is $217,200, which is significantly lower than the US House Median Value, which stands at $338,100. Furthermore, the last year saw an appreciation of 11.52% for houses in Springfield compared to 8.27% for US house prices overall. This shows that despite the lower median value of homes in Springfield, it still has a healthy and steadily growing market.
The median home cost in Springfield is $217,200. Home appreciation the last 10 years has been 95.2%. Home Appreciation in Springfield is up 21.6%.
Average Age of Homes
- The median age of Springfield real estate is 43 years old
The Rental Market in Springfield
- Renters make up 47.8% of the Springfield population
- 2.1% of houses and apartments in Springfield, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.