Cost of Living in Springfield, Missouri
In Springfield, the median household income is $49,311 and the median gross rent is $964/mo, with a median home value of $177,700. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $49,311
- Median gross rent
- $964/mo
- Median home value
- $177,700
- Population
- 169,954
How Springfield compares to the Missouri average
| Measure | Springfield, MO | Missouri statewide | Difference |
|---|---|---|---|
| Median household income | $49,311 | $70,702 | -30.3% |
| Median gross rent (monthly) | $964 | $1,033 | -6.7% |
| Median home value | $177,700 | $230,300 | -22.8% |
Statewide, Missouri prices average 90.8 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Springfield
- Salary needed for median rent
- $38,560
- Rent burden at median income
- 23.5%
- Est. affordable home price
- $179,883
So that $964/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Springfield is $177,700 — within what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Missouri cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.