Springfield's housing market ranking is a call to action | Opinion

Springfield’s recent ranking among the top 20 best housing markets in the U.S. is exciting news for our city. Yet, as we celebrate, it’s crucial to look beyond the headlines and focus on the policies that will allow this growth to benefit not just newcomers, but long-time residents as well. Although we’re in the top 20, housing and home ownership remains a challenge here and across the country. The average first-time home buyer in the U.S. last year was 40 years of age — an all-time high. Just last fall, the U.S. Treasury Secretary warned of a “national housing emergency.” Affordability is a big hurdle nationally and locally due to relatively higher mortgage rates, cost of new construction and an overall constraint of single-family dwellings.

The article rightly points out that new construction within Springfield’s city limits is limited. As economics professor David Mitchell of Missouri State University notes, this is likely to push future development to the outskirts. Springfield is well-positioned with initiatives like Restore SGF and programs such as the Down Payment Assistance (DPA) program that can highlight the value of Springfield’s existing housing stock while also supporting innovative “missing middle” housing projects that bridge the gap between apartments and single-family homes. In a little over two years, Restore SGF has incentivized over 100 new homeowners to purchase homes in Springfield neighborhoods.

Some observers suggest that current renters are unlikely to afford homeownership in Springfield. However, our two-year experience with the DPA program tells a different story. Ninety-seven percent of DPA recipients were Springfield-area residents, and 77% lived inside the city limits. These buyers are not outside investors or speculative purchasers. These are local first-time homebuyers, often younger residents, planting roots in the community and helping Springfield retain talent that might otherwise leave the area. This isn’t just a statistic — it’s a signal to policymakers that our local residents are bankable and ready to become homeowners; the primary barrier is the down payment, not the ability to make mortgage payments.

Furthermore, if higher gas prices persist, many who currently live in Springfield’s surrounding communities may choose to move closer to work, offering Springfield a competitive advantage. Incentivizing homeownership through programs like DPA ensures that these residents — and those already here — have the opportunity to establish long-term roots in our city.

Springfield’s top 20 ranking is more than a badge of honor; it’s a call to action. The opportunity is in front of us. By continuing to invest in homeownership incentives, neighborhood revitalization, and thoughtful housing development, Springfield can ensure that its growth benefits everyone — not just those arriving here, but the residents who have already invested their lives, families, and futures in this community.

Brendan Griesemer is executive director of Restore SGF, an organization whose mission is to increase homeownership and improve housing quality in Springfield.