Springfield, MO Rental Market
Springfield, MO is the economic hub of the Ozarks region, home to Bass Pro Shops' global headquarters and a growing cluster of national retailers, distributors, and healthcare systems. Missouri State University and Cox Health provide major employment anchors. The city's affordability, college-town energy, and outdoor recreation access to the Ozarks attract renters from across the region seeking value and quality of life.
Get a rent estimate for an address in SpringfieldAverage Rent in Springfield, MO
$980
per month · 2026-06
Market Score
Key Facts — Springfield, MO Rental Market
- Average rent in Springfield, MO:$980/mo
- Median rent:$902/mo
- Rent range:$500 – $2,150/mo
- Most common rental (2 bedrooms):$875/mo
- Active listings:720
- Avg days to lease:35 days
- Year-over-year change:+2.8%
- Median home value:$165,000
- Est. gross annual yield:7.1%
- Data as of:2026-06
Rent by Bedroom in Springfield, MO
Average monthly rent for each bedroom type based on current active listings in Springfield.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $700/mo |
2 Bedrooms | $875/mo |
3 Bedrooms | $1,100/mo |
4 Bedrooms | $1,350/mo |
5 Bedrooms | $1,550/mo |
Springfield Rental Market Statistics
Key indicators from the current Springfield, MO rental market.
720
Available now in Springfield
35
From list to lease
$0.79
Average across listings
1,244 sq ft
Typical rental size
$500 – $2,150
Min to max active listings
+2.8%
Avg rent vs. prior year
Investing in Springfield, MO Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$165,000
Typical purchase price in Springfield
Est. Gross Annual Yield
7.1%
Before expenses & vacancy
Avg Monthly Income
$980
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Springfield for a full cash-flow breakdown including all costs.
Springfield, MO Rental Market FAQ
Common questions about renting and investing in Springfield, MO.
What is the average rent in Springfield, MO?
The average rent in Springfield, MO is $980 per month as of 2026. One-bedroom apartments average $700/mo, two-bedrooms $875/mo, and three-bedroom homes $1,100/mo. Springfield offers very affordable rents for a city of its size, making it accessible to a wide range of tenants.
Is Springfield, MO a good place to invest in rental property?
Springfield, MO offers a 7.1% estimated gross annual yield with very low acquisition costs (~$165,000). Missouri State University, Cox Health, and Bass Pro Shops provide a stable, diverse tenant base. The Ozarks lifestyle appeal is attracting in-migration that supports moderate rent growth.
How competitive is the Springfield, MO rental market?
Springfield averages 35 days on market with approximately 720 active listings. The market is moderately competitive — properties near MSU and Cox Health tend to lease faster. The downtown arts district and C-Street corridor attract young professionals seeking walkable options.
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