Missouri · 111th largest metro area

Buying a home in Springfield, Missouri

In Springfield, the median value of owner-occupied homes is $177,700, Greene County's effective property tax rate is 0.71%, a purchase mortgage carried a median $4,044 in total loan costs in 2025, and median gross rent is $964 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Springfield home costs, fact by fact

About Springfield

Median gross rent runs $964 per month, and HUD's Fair Market Rent for a two-bedroom in Greene County is $1,113. Owners occupy 43.9% of homes in this city.

Calculate for Missouri

If you buy

Missouri state transfer tax

Missouri has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$271,400
State transfer tax$0
Share of the price—

Default price: the Missouri median value of owner-occupied homes, $271,400 (Census ACS 2025). Rule: No tax is calculated on the price. Recording fees depend on page count. Who pays: No transfer tax to assign; the statute says only that the recorder is allowed the fees, and the sales contract decides who pays them. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Missouri transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Missouri state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Springfield

How much is property tax in Springfield?

Homeowners in Greene County pay a median $1,572 a year in property tax, 0.71% of the county median home value of $221,300 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Springfield?

Home-purchase mortgages in Greene County carried median total loan costs of $4,044 in 2025; half of the 3,149 loans fell between $3,118 and $6,658 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Springfield?

Missouri does not tax the transfer of a home in any statute or fee schedule reviewed, and its Constitution (Article X, Section 25) bars any new tax on the sale or transfer of real estate since December 2, 2010. In St. Louis a standard deed costs $25 to record for the first page and $5 per extra page.

Is it cheaper to rent or buy in Springfield?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Springfield ($177,700) equals 15.4 years of the median gross rent ($964 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Missouri rules that apply in Springfield

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Sources

Missouri · All states · Federal guides