Cheap Apartments for Rent in the Downtown Springfield Neighborhood of Springfield, IL from $500 (35 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Springfield area of Springfield.

property at 400 W Allen St

400 W Allen St

SpringfieldIL62704
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University Villa
Studio to 2 Bedroom Apartments

University Villa

407 W Calhoun AveSpringfield, IL 62702
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632 S Walnut St
1 Bedroom Apartments

632 S Walnut St

632 S Walnut StSpringfield, IL 62704
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Dorset Apartments
1 Bedroom Apartments

Dorset Apartments

1017-1021 S Spring StSpringfield, IL 62704
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Centre @ 501 Apartments
1 to 2 Bedroom Apartments

Centre @ 501 Apartments

501 E Capitol AveSpringfield, IL 62701
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Ash Street
2 Bedroom Apartments

Ash Street

1306-1312 W Ash StSpringfield, IL 62704
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811 Reisch
1 Bedroom Apartments

811 Reisch

811 Reisch StSpringfield, IL 62702
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SHP at Governor Place
1 to 2 Bedroom Apartments

SHP at Governor Place

1021 W Governor StSpringfield, IL 62704
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520 Illini Ct
1 Bedroom Apartments

520 Illini Ct

520 Illini CtSpringfield, IL 62704
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Showing Results 1-35, Page 1 of 1

Downtown Springfield, Springfield, IL Local Guide

Cheapest Available Downtown Springfield Apartments for Rent

 

The cheapest available apartment rental in the Downtown Springfield area of Springfield, IL is a 1 Bed unit found at Denison Place priced from $675. Whispering Pines has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here are the most affordable Downtown Springfield apartments for rent in Springfield, IL:

Apartment ListingModel NameBed/BathPriced From
Denison PlaceOne Bedroom1BR,1BA$675
Whispering Pines1 bed Classic1BR,1BA$700
The Hickcox CollectionThe HickoxStudio,1BA$775
Meadow View Landing1 Bedroom/1 Bath1BR,1BA$780
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$799
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$875
Safe Harbor PropertiesWalk to work. Capitol View. WIFI Included.2BR,1BA$925

Best Value Apartments for Rent in Downtown Springfield, IL

As of March 28, 2025 the best value apartment in the Downtown Springfield area is the $0.79 price per square foot 515 E Vine St Model at 515 E Vine St, Unit 515 E Vine Apt B in the in the Downtown Springfield neighborhood starting from $950. The second greatest value Downtown Springfield apartment is the 1427 S Pasfield St Model at 1427 S Pasfield St, Unit 2 starting at $885 with a $0.98 price per square foot in the Downtown Springfield neighborhood. Here is today’s list of the best values for Downtown Springfield apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
515 E Vine St, Unit 515 E Vine Apt B515 E Vine St2BR,1BA$0.79
1427 S Pasfield St, Unit 21427 S Pasfield St2BR,1BA$0.98
Safe Harbor PropertiesWalk to work. Capitol View. WIFI Included.2BR,1BA$1.03
Denison PlaceOne Bedroom1BR,1BA$0.84
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.07
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$1.25
Meadow View Landing1 Bedroom/1 Bath1BR,1BA$1.16
118 N Glenwood Ave, Unit B118 N Glenwood AveStudio ,1BA$1.33
Whispering Pines1bed Extended1BR,1BA$1.29
913 N 7th St, Unit 2913 N 7th StStudio ,1BA$1.40

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Downtown Springfield, Springfield, IL

Ranked #1

Among neighborhoods in Springfield, IL for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Downtown Springfield, Springfield, IL

School data provided by Great Schools

Best Local Schools in
Downtown Springfield, Springfield, IL

School data provided by Great Schools

Getting Around the Downtown Springfield Neighborhood in Springfield, IL

Walk Score®

84 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

76 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

49 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Downtown Springfield Apartments

What is a cheap apartment in Downtown Springfield?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Springfield is under $925.

What is the price of a cheap apartment in Downtown Springfield?

The cheapest apartment in Downtown Springfield is Denison Place which is listed at $675, while the average apartment in Downtown Springfield costs $1,170.

What types of apartments are the cheapest in Downtown Springfield?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 5 regular apartments in Downtown Springfield that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.