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These days, finding an affordable place to live in the Springfield area can be challenging. Home prices in Springfield are now at a median cost of $150,688, lower than the Arkansas average of $207,061.
The average cost of rent is $2,006/mo in Springfield, primarily driven by the current value of real estate in the Springfield area. In Springfield, 15.53% of households rent, and 63.78% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Springfield is $5,498 per month. Households that rent pay about 36.48% of their income on rent here. Springfield’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Middleton, AR: less expensive homes
- Catholic Point, AR: less expensive homes
- Solgohachia, AR: higher priced homes
- Overcup, AR: equally priced homes
- Martinville, AR: equally priced homes
- Lick Mountain, AR: less expensive homes
- Center Ridge, AR: less expensive homes
- Republican, AR: higher priced homes
- Menifee, AR: equally priced homes
- Plumerville, AR: equally priced homes
Cities with Similar Populations
- Booker, TX: equally priced homes
- Butternut, WI: higher priced homes
- Burwell, NE: higher priced homes
- Montrose, IA: equally priced homes
- Point Reyes Station, CA: higher priced homes
- Plainview, NE: less expensive homes
- Pine Grove, LA: less expensive homes
- Pender, NE: higher priced homes
- Pavo, GA: equally priced homes
- Ossipee, NH: higher priced homes
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