Planning to buy your dream home in the Queen City of the Ozarks? Before you talk to your real estate agent, here’s a short guide to everything you need to know about living in Springfield, MO:
Where is Springfield, MO?
Springfield is the county seat of Greene County and the third largest city in Missouri. Located at the southwestern part of the state and bordered by the Ozark Mountains, the city makes up the Springfield Plateau region of the Ozarks, along with northwest Arkansas and northeast Oklahoma.
Traveling around Springfield is easy and efficient. You can choose to walk, bike, commute, or drive. Interstate 44 and Highway 744 bisect the city from east to west, while Highways 160, 65, and 13 provide north-south routes.
Biking around the area is also easy and enjoyable, thanks to the Ozark Greenways. This 75-mile greenway trail has around 80 miles of on-street bicycle routes winding throughout the Springfield-Greene County area.
The city is served by a bus system that runs all year round, and the Springfield-Branson National Airport provides flights to over 10 cities around the country.
A high yet affordable quality of life
Home to Missouri State University, Drury University, and Evangel University, Springfield is a truly popular college town. But students aren’t the only ones who love living in Springfield, MO. Thanks to its strong economy, abundant career opportunities, and low cost of living, Springfield is also preferred by young professionals, families, and retirees.
With a cost-of-living index only of 82.3, living in Springfield is substantially more affordable than in most other cities in the nation. The city also has a relatively low base sales tax rate of 8.1%, which already includes state, city, and county sales tax. The property tax rate is also an attractive $5.5475 per $100 of assessed valuation.
Great job and education opportunities
Springfield is one of the main economic centers in the region spanning 27 counties in Missouri and Arkansas. According to U.S. News, Springfield has a healthier job market compared to similar-sized cities in the country, with an unemployment rate that’s 2.8% lower than the national average in 2020. The city is home to major employers and large corporations, including Mercy Hospital Springfield, CoxHealth, Missouri State University, O’Reilly Auto Parts, SRC Holdings, and more.
If you’re a new investor or entrepreneur, you’ll also get many benefits from living in Springfield, MO. With the city’s favorable tax climate and growing economy, you can easily save up and invest in a new company or business venture.
If you have a family, your children can get excellent education through Springfield Public Schools (SPS). Missouri’s largest school district, SPS includes four early childhood centers, five designated Missouri A+ high schools, and the Phelps Center for Gifted Education. In 2020, the 4-year graduation rate for SPS was 93.6%.
Springfield’s food scene is unlike anywhere else in the world. The city is home to a multitude of local eateries, fine dining establishments, thriving farmers markets, and topnotch distilleries and breweries. With more than 800 restaurants and food establishments in the city, there’s always something new to try out and love.
If you’re new to living in Springfield, MO, make sure to grab Springfield-style Cashew Chicken the first chance you get. First served more than 50 years ago, this local favorite is best enjoyed at Leong’s Asian Diner or during the city’s annual Sertoma Cashew Craze event.
Living in Springfield, MO, means there’s always something to do, whether its cheering for the Springfield Cardinals at Hammons Field, joining cycling events like the annual Tour de Ozarks and Ozarks Greenways Adventure Race, or exploring the gorgeous works of local artists at the First Friday Art Walk and Walnut Street Artsfest.
The Queen City of the Ozarks has something for every kind of lifestyle. Aspiring athletes and sports fans can tour around the Missouri Sports Hall of Fame and join the city’s Community Sports Development Program (CSDP).
Outdoor enthusiasts will find endless trails, parks, and wildlife to explore, such as the Springfield Conservation Nature Center, the Springfield Wonders of Wildlife National Museum & Aquarium, and the nearby Mark Twain and Ozark-St.Francis National Forests.
Art and culture fans will also love the abundance of galleries and theaters in the city, such as the Gillioz Theatre and the Springfield Little Theatre at the historic Landers Theatre.
Springfield properties have high investment potential
Despite its thriving economy, central location, and acclaimed academic and cultural institutions, Springfield maintains a sweet balance between comfortable urban living and tranquil country lifestyle. While the downtown district is always buzzing with activity, the city’s residential communities are a mix of suburban and rural areas.
Single-family detached homes are the most common housing type in Springfield, but there are also a vast selection of apartment and condominium properties in spacious complexes and high rises.
As of February 2022, the typical home value of Springfield properties is $202,946, which is considerably lower than the national average home value of $331,533. Moreover, the city has experienced some of the best appreciation rates in the state. According to NeighborhoodScout data, the city’s cumulative appreciation rate over the past decade has been 55.95%, and between 2021 to 2022 alone, Springfield home values rose by 20.6%.
Find your dream home in Springfield, MO
When you work with HouseKey Flat Fee Realty, you can find the home of your dreams in Springfield without breaking the bank. We are a member of two Multiple Listing Services and represent homes that are not listed on the MLS. This means we have access to more home inventory choices than most other Realtors.
We also have a wide network of the most reliable local services, including lenders, home inspectors, closing agents, and so on, so you can be assured of a smooth and worry-free transaction.