Market Overview
Home Prices in Springfield, AR
The median home value in Springfield, AR is $166,929 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 11.6% compared to a year ago and down 9.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Springfield are priced59% below average.
Over the past five years, Springfield home values have risen by approximately16.3%, reflecting steady appreciation in this market.
Price History
Springfield Home Price Trend
2020
$126,010
$126K
—
2021
$143,476
$143K
+13.9%
2022
$159,637
$160K
+11.3%
2023
$158,166
$158K
-0.9%
2024
$165,009
$165K
+4.3%
2025
$149,523
$150K
-9.4%
2026
$166,929
$167K
+11.6%
City Comparison
Springfield vs. National Median
🏠 Springfield
$166,929
National Median
$410,000
At $166,929, homes in Springfield cost 59% below the national median of $410,000. This makes Springfield a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Springfield?
20% Down Payment
$33,386
on $166,929
Monthly P&I
$871/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,106/mo
incl. taxes & insurance
Income Needed
$44,240
gross annual (30% rule)
10% Down Option
$16,693
+ PMI applies
Loan Amount (20% dn)
$133,543
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Springfield, AR?
The median home value in Springfield is $166,929 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 11.6% year-over-year.
How much have home prices changed in Springfield?
Over the past year, home values in Springfield have increased by 11.6%. Over five years, prices have risen approximately 16.3%.
How much do I need to earn to buy a home in Springfield?
To comfortably afford the median home price of $166,929 with a 20% down payment ($33,386) at today's rates (6.8%), you'd need a gross annual income of approximately $44,240. This assumes keeping total housing costs at or below 30% of gross income.
How does Springfield compare to the national average home price?
The national median home value is approximately $410,000. At $166,929, homes in Springfield are 59% below the national average.