Springfield Missouri Residential Rent and Rental Statistics
The median monthly gross residential rent in Springfield, MO (the Springfield metro area) was $761 in 2019 according to the Census ACS survey.1 Average gross rent in Springfield was $735 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Springfield median and average rent data will be released in September of 2021.
Data is also available below for Springfield rental vacancy rates, Springfield rent as a percent of median income and the fraction of renters in Springfield.
Real Gross Rent in Springfield Missouri (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Missouri Median Gross Rent | $834 | -1.30% | +3.35% |
| Springfield, MO Median Gross Rent | $761 | +0.26% | +4.25% |
Springfield, MO Real Gross Rent Trends
At $761, real median gross rent in Springfield was at its highest level in 2019 since the series began in 2005. Average gross rent for Springfield peaked in real terms in 2015 at $768 and is now $33 (4.30%) lower.
Real Gross Rent in Springfield: Springfield MO Median, Springfield MO Average, Missouri Median, US Median
Real Gross Rent History for Springfield
| Date | US Median |
Missouri Median |
Springfield, MO Median |
Springfield, MO Average |
|---|---|---|---|---|
| 2019 | $1,097 | $834 | $761 | $735 |
| 2018 | $1,077 | $845 | $759 | $767 |
| 2017 | $1,043 | $825 | $755 | $749 |
| 2016 | $1,027 | $807 | $730 | $753 |
| 2015 | $1,017 | $809 | $754 | $768 |
| 2014 | $986 | $796 | $724 | $751 |
| 2013 | $953 | $773 | $719 | $723 |
| 2012 | $940 | $751 | $702 | $716 |
| 2011 | $941 | $765 | $714 | $733 |
| 2010 | $955 | $762 | $713 | $730 |
| 2009 | $960 | $761 | $721 | $717 |
| 2007 | $927 | $726 | $691 | $688 |
| 2005 | $910 | $741 | $698 | $720 |
Springfield Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Springfield Missouri was 1.22% according to Census ACS data.
Rental Vacancy Rate in Springfield Missouri
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Missouri | 5.15% | -1.42% | -1.66% |
| Springfield, MO | 1.22% | -4.35% | -5.24% |
Trends in Springfield, MO Rental Vacancy Rate
The rental vacancy rate in Springfield peaked in 2010 at 10.51%. Since then it has fallen by 9.29% to 1.22%. Data records for this series originated in 2005.
Rental Vacancy Rate: Springfield MO, Missouri, US
Historical Rental Vacancy Rate data for Springfield
| Date | US | Missouri | Springfield, MO |
|---|---|---|---|
| 2019 | 5.97% | 5.15% | 1.22% |
| 2018 | 6.15% | 6.57% | 5.57% |
| 2017 | 6.18% | 6.40% | 7.75% |
| 2016 | 5.89% | 6.81% | 6.46% |
| 2015 | 5.85% | 6.43% | 7.58% |
| 2014 | 6.32% | 7.16% | 6.23% |
| 2013 | 6.49% | 6.86% | 7.27% |
| 2012 | 6.77% | 6.74% | 5.93% |
| 2011 | 7.40% | 8.22% | 10.24% |
| 2010 | 8.17% | 8.25% | 10.51% |
| 2009 | 8.43% | 8.24% | 7.60% |
| 2007 | 7.87% | 8.36% | 7.63% |
| 2005 | 7.74% | 9.28% | 6.41% |
Rent as a Fraction of Income
Using median household income data for Springfield, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Springfield, median monthly gross rent as a fraction of median household income was 19.42% in 2019 according to the ACS.
Springfield Missouri Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Missouri | 17.43% | -0.85% | -0.45% |
| Springfield, MO | 19.42% | +0.33% | +0.97% |
Trends in Springfield, MO Rent as a Fraction of Income
The fraction of median Springfield household income required to pay median monthly gross rent peaked in 2013 (relative to the 2005 series origin) at 19.97%. Since then it has fallen by 0.56% to 19.42%.
Fraction of Income towards Rent: Springfield MO, Missouri, US
Historical Data for Annual Rent as a Fraction of Income in Springfield Missouri
| Date | US | Missouri | Springfield, MO |
|---|---|---|---|
| 2019 | 20.03% | 17.43% | 19.42% |
| 2018 | 20.50% | 18.28% | 19.09% |
| 2017 | 20.13% | 17.92% | 18.24% |
| 2016 | 20.43% | 17.88% | 18.45% |
| 2015 | 20.63% | 18.23% | 19.05% |
| 2014 | 20.89% | 18.71% | 19.96% |
| 2013 | 20.78% | 18.77% | 19.97% |
| 2012 | 20.65% | 18.69% | 18.74% |
| 2011 | 20.70% | 18.78% | 19.14% |
| 2010 | 20.50% | 18.47% | 19.10% |
| 2009 | 20.12% | 17.72% | 19.11% |
| 2007 | 18.66% | 16.44% | 17.01% |
| 2005 | 18.89% | 16.95% | 17.84% |
Renter Fraction in Springfield Missouri
You can calculate the renter fraction in Springfield in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Springfield as a fraction of total Springfield households. In 2019 41.07% of households were renters according to Census ACS data.
Springfield Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Missouri | 32.88% | -0.34% | -1.04% |
| Springfield, MO | 41.07% | +3.05% | +2.56% |
Trends in the Springfield, MO Renter Fraction
At 41.07%, the 2019 household based renter fraction in Springfield was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Springfield MO, Missouri, US
History of Springfield Renter Fraction
| Date | US | Missouri | Springfield, MO |
|---|---|---|---|
| 2019 | 35.89% | 32.88% | 41.07% |
| 2018 | 36.05% | 33.22% | 38.02% |
| 2017 | 36.13% | 33.05% | 36.52% |
| 2016 | 36.88% | 33.92% | 38.51% |
| 2015 | 36.97% | 33.87% | 38.57% |
| 2014 | 36.90% | 33.09% | 36.79% |
| 2013 | 36.50% | 33.03% | 37.76% |
| 2012 | 36.09% | 32.53% | 36.51% |
| 2011 | 35.42% | 31.95% | 36.60% |
| 2010 | 34.65% | 31.02% | 34.55% |
| 2009 | 34.13% | 30.92% | 36.45% |
| 2007 | 32.80% | 29.34% | 31.53% |
| 2005 | 33.10% | 29.36% | 33.94% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
Here's where you are
- Home
- / Rent
- / Missouri
- / Springfield
