Springfield, Missouri is gaining consistent attention as an 'affordable' city with home prices significantly lower than the national average.

More people are choosing Springfield as an alternative living space, especially those tired of high living costs in major cities, and this trend is further strengthened by the rise of remote work. We take a detailed look at the average prices and types of homes in the Springfield housing market as of 2025.

As of 2025, the median home price in Springfield, MO is estimated to be around $190,000 to $220,000. This is only about half of the national median home price of approximately $410,000 (as of 2024). Compared to the overall median home price in Missouri (around $230,000 to $250,000), Springfield remains relatively affordable. Recent data from real estate platforms like Zillow and Redfin shows that the Springfield housing market is experiencing a gradual increase, but it differs from the sharp price hikes seen in some major cities after the COVID-19 pandemic.

Looking at the average prices by home type, small single-family homes or townhomes with 1 to 2 bedrooms are traded in the mid-$100,000s to $160,000 range. Three-bedroom single-family homes, the most common type in Springfield, have an average transaction price between $180,000 and $240,000. In areas with good conditions and excellent school districts, three-bedroom homes can go up to $260,000 to $300,000. Large single-family homes with four or more bedrooms are traded in the $250,000 to $400,000 range, with upscale homes in preferred school districts like southwest Springfield (near Republic Road) or Nixa exceeding $500,000.

There are price differences by region. Older homes in the downtown and midtown areas can be found for under $100,000, but renovation costs should be considered. The southwest and southeast areas (Battlefield/Glendale school district) are relatively higher in price within Springfield, and new construction single-family homes are sold for over $300,000 to $500,000. The northern and northeastern parts of Springfield are relatively more affordable, with many homes accessible to middle-income families.

When purchasing a home in Springfield, property tax should also be considered. Overall, Missouri has a relatively low property tax rate, with Springfield (located in Greene County) having an average effective property tax rate of about 0.9% to 1.1% of the market value of homes. For a $200,000 home, the annual property tax would be around $1,800 to $2,200, which is significantly lower compared to states with high property tax rates like Illinois, New Jersey, and Texas.

As of 2025, the Springfield housing market is maintaining a seller's market character, but there are signs of cooling due to rising interest rates. The average days on market for listings is about 30 to 50 days, easing the extreme short-term inventory depletion seen during the pandemic.

There are also support programs for first-time homebuyers in Missouri, with the Missouri Housing Development Commission (MHDC) offering down payment assistance and low-interest loan programs. If you are considering purchasing a home in Springfield, it is important to consult with a local real estate agent and check the latest data reflecting the current market conditions.