Department of Numbers

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.

Show dollars as: Nominal Real

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

Lower quartile, median and upper quartile real gross rent

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

more history ...

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

Rental vacancy rate in Missouri

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%

more history ...

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

Percent of median household income going towards median monthly gross rent in Springfield Missouri

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%

more history ...

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

Fraction of renters in Springfield

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%

more history ...

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.