Total monthly cost of ownership
Cost to Own a Home in Springfield, Missouri
A $165,000 home here costs
$1,368per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $848. The real number is $520 higher every month — 61% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Springfield against Greene County and Missouri
| Measure | Springfield | Greene County |
|---|---|---|
| Median home value | $165,200 | $203,500 |
| Median property tax | $1,268 | $1,469 |
| Effective tax rate | 0.768% | 0.722% |
| Median gross rent | $920 | $940 |
| Population | 169,432 | 301,121 |
Springfield extends across 2 counties. Figures here use Greene County, where most of its housing sits.
The weather behind that power bill
Springfield sits in Greene County, which averages a high of 89.6°F in its hottest month and a low of 24.2°F in its coldest, with 44.71" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 1,540 cooling and 4,277 heating degree days, which is what sets the $123 electricity line above.
See the full climate breakdown for Greene County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Greene County
Full Greene County cost breakdown · Every county in Missouri
Common questions
How much does it cost to own a home in Springfield?
A $165,000 home in Springfield, Missouri costs approximately $1,368 per month with 20% down at 6.66%. That is $848 principal and interest, $106 property tax, $86 homeowners insurance, $191 utilities and $138 set aside for maintenance.
What is the property tax rate in Springfield?
Springfield has an effective property tax rate of 0.768%, based on a median home value of $165,200 and median real estate taxes of $1,268. That is higher than the Greene County average of 0.722%.
What is the average home price in Springfield?
The median owner-occupied home value in Springfield, Missouri is $165,200, against $203,500 across Greene County.
Is it cheaper to rent or buy in Springfield?
Median gross rent in Springfield is $920 a month, against $1,368 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Springfield — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Missouri.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.