Springfield, Missouri – located in the Ozark Mountains, has a lot of charm. It’s got a rich history and unique culture all of its own – plus, you can enjoy small-town life while still having access to big-city perks. Little wonder then that this place is becoming more popular with homebuyers who want both!
The cost of living here is very affordable; there are jobs thanks to a growing economy (meaning people feel safer walking down Main Street at night) and a closely-knit community that residents love., making it an increasingly attractive option for those looking to invest in property. So, let’s find out more about what makes Springfield so special– and take an in-depth peek into housing market trends if you’re considering buying real estate in the area!
The Appeal of Springfield
In southwest Missouri lies Springfield– a place of great natural beauty, culture and things to do. It’s called the “Queen City of the Ozarks”, and it’s not just popular because of its hills, rivers, forests and caves: people here are really nice too! Little wonder then that many folks think this is the perfect place to live.
Apart from having a community college, there are two universities in town, so if young adults want to further their education, they don’t have to go far!
Life Is Good In Springfield
Springfield is consistently ranked high on lists of places with a great quality of life (it scored 7th among 50 other US cities) for good reason. It is the only city in Missouri that combines inexpensive living costs with everything else people want from a community. No wonder individuals who think about relocating here discover they can buy more houses for their money, meaning wider choice when they move up the real estate property ladder!
Its schools are excellent– not something one can always say about in big cities. So, if you are purchasing a new family home, rest assured your young children will get a good start to their education if it’s in Springfield.
The restaurants are also unbelievably good (don’t forget to try the cashew chicken), and there is fabulous Mexican food. And with three large caves just outside city limits, there is plenty to do in the way of outdoor recreation.
There are also a few highly renowned healthcare options within driving distance, including two major hospitals: Mercy Hospital and CoxHealth!
Big Business Provides Several Economic Opportunities For Residents
Springfield has a varied economy, but healthcare takes the lead in terms of employment. There is also a lot of manufacturing done here; in fact, this industry thrives with firms such as General Electric, 3M Company and Kraft Foods– all having operations in the city. Remember its tourist appeal, too- as a birthplace for Route 66 (known worldwide), Springfield benefits from an active hospitality sector, too!
The Real Estate Market in Springfield is Strong
Affordability and Value
Purchasing property in Springfield provides great bang for your buck. Zillow reports that the median price of homes in Springfield is a tad less than the national average ($358k vs $412k)– a fact that makes this area appealing to initial home buyers who want affordable options, as well as investors looking at potential rental income. Springfield has many neighborhoods, each with its own vibe. Here are a few you might like:
- Downtown: Want to live where the action is? Check out downtown, which mixes new stuff with lots of history. People who work at big-shot places like Missouri State University or CoxHealth might be your neighbors.
- Century Place: If old-fashioned houses on pretty streets— some with big trees— sound good to you, give Century Place a look. Families flock here for top-notch public schools.
- Galloway Village: This hip area has cool shops, galleries and places to eat. You could choose between apartments or houses, both old and new.
- Brentwood South: Do you dream of a home on a street with lots of trees? Brentwood South might be the place for you. It’s known for its great schools and being nice for kids.
Real Estate Market Insights
Springfield’s real estate market has consistently grown, including a 16% rise in median house costs in 2024, up from 2019. This rise is likely to continue to grow due to the stability of Springfield’s economy– an attractive attribute which makes this part of Missouri a great place for real estate investors.
A typical home in Springfield costs around $407,047, up 1.8% in the past year! When they do come onto the market, they go under offer in about 9 days. Property taxes are much cheaper here, too ($0.7053 per $100 of assessed value) than in other parts of Missouri plus cities bordering states such as Illinois and Kansas. This makes buying a house accessible to lots of people: something else that pushes up demand (and prices) for real estate!
Living in Springfield
Cultural and Recreational Activities
Residing in Springfield comes with perks: easy access to museums, music venues, art galleries and more for all tastes. Don’t miss the Wonders of Wildlife National Museum & Aquarium or Juanita K Hammons Performing Arts Center, which hosts a range of Broadway shows. Nature lovers can also find lots to do around Springfield– for example, within reach is Mark Twain National Forest. This famous woodland offers trails that weave through tough landscapes; there are also lakes set amid rolling hills, a great spot if you like hiking and lots of other activities, too. Although it’s close by, one thing missing from Springfield’s own surroundings is any part of the lovely Finley River!
Education And Healthcare
Springfield has a robust education system with many public as well as private schools. The Springfield Public Schools District offers fantastic public education for students from Pre-K through 12th grade, as well as inclusive teaching programs that meet diverse student needs.
Some of the most notable ones include:
- West Springfield High School
- Monson High School
- Four Rivers Charter Public School
- Palmer High School
- The Springfield Renaissance School
- Greenfield High School
There are also lots of good colleges and universities in town if you want to keep studying after high school! Some of these are:
- Missouri State University
- Springfield College
- Drury University
- Evangel University
- Mission University
- Cox College
- University of Illinois Springfield
- Western New England University
If you live here, you can get excellent healthcare at Mercy Hospital or CoxHealth— both of which have cutting-edge technology along with top ratings for patient care.
Community And Lifestyle
Springfield is characterized by its strong community spirit, which fosters a small-town feel where everybody knows their neighbors. It’s common to see people chatting on sidewalks or waving from their front porches in this friendly town.
The arts are alive and well in Springfield, with many galleries, performance spaces and public artworks. On weekends, you’ll find pop-up markets selling handmade goods, while the annual Street Music Festival attracts musicians from all over the country.
In downtown Springfield, there is an eclectic mix of restaurants to choose from, offering everything from southern soul food to dishes from Ethiopia! There are also plenty of bars if you fancy a nightcap after dinner– or why not sample some local craft beer at one of the breweries in town?
Transportation And Accessibility
Springfield has two main highways: Highway 60 and Interstate 44. This makes travelling across town and further afield by car or truck really easy. If you’re thinking about flying somewhere (or having friends fly in to see you), there is the Springs-Branson National Airport, and from here, the Lower-Metro area can be reached quickly– as well as other points of interest.
Springfield also has its own bus transportation- the Sangamon Mass Transit District (SMTD), which primarily operates in and around Springfield, Illinois. It also serves several nearby communities along with 17 fixed bus routes.
Overall Conclusion on Living and Buying Real Estate in Springfield
Springfield is increasingly attractive to homebuyers for several reasons: beautiful landscapes, a varied economy, and friendly residents. This Midwestern city also boasts affordable housing and living costs- good news for people purchasing their first home or buying properties to rent out. Beyond financial matters, Springfield has lots to do; there are cultural activities, such as parks, etc.
If you want urban excitement but want to avoid paying through the nose, move here! If you want rural peace, move here too! Springfield’s housing market is strong; whether you’re after an investment property or your own place, you should be able to find something nice!