Investment metrics, interactive calculators, and data-driven analysis for Springfield rental properties.
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Factor in financing to see your actual return on invested capital in Springfield.
Springfield, MO has a population of 169,176 and has been growing at 0.6% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $185,000 paired with median rents of $1,050/mo produces an estimated cap rate of 4.41%.
Property taxes at 1.18% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 6.2% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 4.6x, homes cost about 4.6 times the local median income of $40,200. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 2.5% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Springfield presents moderate opportunities. Cap rates near 4.41% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.