Average rent in Springfield

Average rent in Springfield,MO

Over the past few years, the average rent in Springfield, MO has steadily increased due to the growing demand for housing. In 2021, the average rent was $825 per month, which was a minor increase from the previous year. However, by 2023, experts predict that the average rent will skyrocket to $900 per month, which is a significant jump in just two years. This spike in rent can be attributed to the city’s booming economy and the influx of new residents seeking affordable housing. Despite this increase, the cost of living in Springfield, MO remains lower than other metropolitan areas across the country. If you are planning to rent a home in Springfield, MO, it is critical to start saving up and budgeting for the impending increase in rent.

Average rent in Springfield,MO for 1-bedroom

In terms of the average rent in Springfield, MO for a 1-bedroom apartment, there has been a steady increase in recent years. In 2023, the average rent is projected to reach $950, which is a significant jump from the $800 average in 2019. Since 2019, the average rent has steadily increased year after year, with a slight increase seen in 2020, and a more pronounced jump in 2021. By 2022, the average rent for a 1-bedroom apartment in Springfield, MO had reached $900. Now, looking ahead to 2023, we can observe that Springfield, MO is seeing a continued trend of rent increases in the housing market.

Average rent in Springfield,MO for 2-bedroom

The average rent in Springfield, MO for a 2-bedroom apartment is expected to increase to $1,200 in 2023. This represents a significant jump from the $1,000 average in 2022, a trend that has been consistent over the past few years. In 2021, the average rent for a 2-bedroom apartment in Springfield was $900, indicating a steady upward trajectory. However, this increase in rent does have some benefits. For example, landlords are investing more in their properties, improving the overall quality of apartments available in the city. Despite the rising costs, Springfield, MO remains an affordable option compared to larger metropolitan areas.

Average rent in Springfield,MO for 3-bedroom

In the year 2023, the average rent in Springfield, MO for a 3-bedroom apartment is projected to reach $1,200 per month. This is a significant increase compared to the average rent in 2019, which was $950 per month. Furthermore, the rent has been increasing gradually over the years, with a 5% increase in 2020, a 7% increase in 2021, and a 10% increase in 2022. Despite the rise in prices, Springfield, MO still provides some of the cheapest living arrangements when compared to other large cities across the United States.

Average rent in Springfield,MO for studio

The average rent for a studio in Springfield, MO has undergone noticeable fluctuations over the past few years. According to recent reports, by the year 2023, the average rent for a studio in Springfield, MO is projected to be around $900, which is a staggering increase of 25% compared to the average rent in 2019. However, it is important to note that the average rent showed a slight decline in 2021 before soaring to its present levels. Nonetheless, it is clear that renting a studio apartment in Springfield, MO is becoming increasingly expensive with each passing year.

Average rent in Springfield,MO for townhouse

Looking at the average rent in Springfield, MO for a townhouse, there was a noticeable increase from previous years. In 2023, the average rent reached $1,200 per month which is a significant jump from the $980 back in 2020. Furthermore, in 2021 it increased to $1,025 with a gradual rise to $1,100 in the next year. The surge in rent prices can be attributed to various factors such as the growing demand for housing and the increase in property taxes. Despite this, Springfield MO remains an affordable option compared to other neighboring cities. In conclusion, it’s important to keep track of these changes in order to make informed decisions when looking for a new place to rent.

Most expensive neighborhoods in Springfield,MO

Springfield, MO is home to some of the most expensive neighborhoods in the state. One of these neighborhoods is Highland Springs, with beautiful homes and golf course views, the houses here range from $500,000 to over $1 million. Another sought-after neighborhood is Pearson Creek, featuring large estate homes and access to hiking trails, with homes costing upwards of $700,000. Kings Mill is also on the list, with beautiful homes built on spacious lots, ranging from $600,000 to over $1 million. These neighborhoods offer a luxurious lifestyle in Springfield, MO, with top-rated schools, safe neighborhoods, and upscale amenities.

Most affordable neighborhoods in Springfield,MO

Springfield, MO has a number of neighborhoods that offer affordable housing opportunities. Some of the most affordable neighborhoods in the city include Springfield North, Southern Hills, and West Central. These areas feature a variety of housing types, including apartments, townhomes, and single-family homes, with many properties priced below the average for the city. These neighborhoods also offer easy access to local amenities, including shops, restaurants, parks, and schools, making them ideal for families and young professionals on a budget.

Most popular neighborhoods in Springfield,MO

Springfield, MO is a vibrant and diverse city with numerous neighborhoods to choose from. The most popular neighborhoods in Springfield include the historic Rountree, with its charming homes and tree-lined streets, and the bustling Commercial Street, home to artisan shops, trendy cafes, and entertainment venues. Other popular neighborhoods include the established Southeast Springfield, with its well-maintained parks and excellent schools, and the up-and-coming Galloway, with its renovated bungalows and hip new businesses. Whether you’re looking for a family-friendly community, a trendy urban environment, or a historic neighborhood, Springfield has something for everyone.

Comparison with other cities

1. Little Rock, AR – $890
2. Des Moines, IA – $955
3. Tulsa, OK – $970
4. Omaha, NE – $985
5. Wichita, KS – $1,000
6. Oklahoma City, OK – $1,035
7. Topeka, KS – $1,050
8. Kansas City, MO – $1,095
9. St. Louis, MO – $1,100
10. Nashville, TN – $1,210
11. Austin, TX – $1,350
12. Dallas, TX – $1,365
13. Denver, CO – $1,485
14. Minneapolis, MN – $1,610
15. Chicago, IL – $1,855

FAQ

Q: What is the average rent in Springfield, MO?
A: As of 2023, the average rent in Springfield, MO is $940 per month.

Q: Has the average rent increased in Springfield, MO in recent years?
A: Yes, the average rent in Springfield, MO has increased by approximately 4% in the past year.

Q: What types of housing are available in Springfield, MO for this average rent?
A: For an average rent of $940 per month, one can find a variety of housing options in Springfield, MO, such as apartments, townhouses, and single-family homes.

Q: Are utilities included in the average rent price in Springfield, MO?
A: Usually, utilities are not included in the average rent price in Springfield, MO. One may have to pay separately for water, gas, electricity, and internet services.

Q: Which neighborhoods in Springfield, MO have the highest and lowest average rent rates?
A: Some of the neighborhoods with the highest average rent rates in Springfield, MO are Downtown, Rountree, and Brentwood, while some of the neighborhoods with the lowest average rent rates are West Central, Westside, and North Springfield.

Q: How does the average rent in Springfield, MO compare to that of other cities in Missouri?
A: The average rent in Springfield, MO is slightly lower than that of some other cities in Missouri, such as Kansas City and St. Louis, but higher than that of some other cities, such as Joplin and Jefferson City.





Author – Stan Huxley

Passionate about real estate, Stan Huxley brings a wealth of experience to our articles. With a lifelong career in the industry, Stan’s insights, tips, and expert advice empower readers to navigate the world of real estate confidently. Whether you’re a homebuyer, seller, or investor, Stan is your trusted guide to making informed decisions.

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