Rent Tracker
Rent Inflation in Springfield, MO
The average asking rent in Springfield, MO is $1,245/month as of 2026-08. That is +4.7% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$1,245/mo
as of 2026-08
Year-over-Year Change
+4.7%
24-Month Rent Trend
Monthly ZORI index values for Springfield, MO.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $1,245 | +0.40% |
| 2026-07 | $1,240 | +1.31% |
| 2026-06 | $1,224 | +0.33% |
| 2026-05 | $1,220 | +0.49% |
| 2026-04 | $1,214 | +0.33% |
| 2026-03 | $1,210 | +0.58% |
| 2026-02 | $1,203 | +0.33% |
| 2026-01 | $1,199 | +0.17% |
| 2025-12 | $1,197 | +0.34% |
| 2025-11 | $1,193 | +0.42% |
| 2025-10 | $1,188 | +0.17% |
| 2025-09 | $1,186 | -0.25% |
| 2025-08 | $1,189 | -0.42% |
| 2025-07 | $1,194 | +0.00% |
| 2025-06 | $1,194 | +0.67% |
| 2025-05 | $1,186 | +0.76% |
| 2025-04 | $1,177 | +0.51% |
| 2025-03 | $1,171 | +1.04% |
| 2025-02 | $1,159 | +0.87% |
| 2025-01 | $1,149 | +0.52% |
| 2024-12 | $1,143 | -0.17% |
| 2024-11 | $1,145 | -0.26% |
| 2024-10 | $1,148 | +0.09% |
| 2024-09 | $1,147 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices