Quick facts: Springfield, MO

Quick Facts

88.0
Cost of Living
below US average
170,067
Population
63.18
Crime Rate per 1000
above US average
$43,450
Median Income
below US average
$80,000
Median House Price
above US average
$883
Average Rent
below US average
17%
Poverty Rate
above US average
4.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $43,450.

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Income Needed to Buy

βœ“ Affordable
$25k/year
Based on $80,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($43,450) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$38k/year
Based on $883/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($43,450) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Springfield, MO

Springfield, Missouri, known as the "Queen City of the Ozarks," is a vibrant city with a rich history and a diverse cultural scene. It is located in southwest Missouri and serves as the third-largest city in the state. With a population of around 170,000, Springfield is a hub for education, health care, and businesses. The city is home to several institutions of higher learning, including Missouri State University, which contributes to its youthful energy and innovative atmosphere. Springfield’s economy is diverse, featuring key industries such as healthcare, manufacturing, retail, and tourism. Outdoor enthusiasts can enjoy the nearby Ozark Mountains, offering opportunities for hiking, fishing, and camping. The city also features more than 100 parks, making it green and accessible for recreational activities. Culturally, Springfield boasts attractions like the Fantastic Caverns, the History Museum on the Square, and the Springfield Art Museum. The city is also famous for its rich barbecue heritage and has numerous dining options that reflect its culinary scene. Springfield's blend of urban life and outdoor adventure makes it an attractive destination for visitors and residents alike.

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