Missouri · Population 169,432 · Updated March 2026
How far your income goes in Springfield
State-level tax rates that affect your costs
Springfield is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 60 (where 100 equals the national median), Springfield residents can expect to pay median rent of $920/month while earning a median household income of $45,984/year.
The median home value in Springfield, MO is $165,200, with typical monthly owner costs around $908 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.
Missouri has a moderate income tax rate of 4.95%. Combined with a 4.225% sales tax rate and 0.93% effective property tax rate, the overall tax environment is a factor in the total cost of living in Springfield.
Common questions about living costs in Springfield
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