Cheap Apartments for Rent in the Downtown Springfield Neighborhood of Springfield, MO from $500 (17 Rentals)

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

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Lumen
1 to 2 Bedroom Apartments

Lumen

728 E Walnut StSpringfield, MO 65806
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Walnut Apartments
1 to 2 Bedroom Apartments

Walnut Apartments

700-720 E Walnut StSpringfield, MO 65806
  • Utilities Included
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Stove Works Lofts
1 Bedroom Apartments

Stove Works Lofts

505 N Jefferson AveSpringfield, MO 65806
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Wilhoit Plaza Lofts
Studio to 3 Bedroom Apartments

Wilhoit Plaza Lofts

431 S Jefferson AveSpringfield, MO 65806
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Founders Park Lofts
Studio to 3 Bedroom Apartments

Founders Park Lofts

331 E Water StSpringfield, MO 65806
  • Utilities Included

Downtown Springfield, Springfield, MO Local Guide

Cheapest Available Downtown Springfield Apartments for Rent

 

The cheapest available apartment rental in the Downtown Springfield area of Springfield, MO is a 4 Beds unit found at Park East - The U priced from $615. El Chaparral Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. Here are the most affordable Downtown Springfield apartments for rent in Springfield, MO:

Apartment ListingModel NameBed/BathPriced From
Park East - The UThe Drake4BR,4BA$615
El Chaparral ApartmentsEl Chaparral 1 Bedroom, 1 Bathroom1BR,1BA$695
Park East - The SterlingThe Miller1BR,1BA$699
Embassy ApartmentsEmbassy Apartments - Close to MSU, Downtown Spf...2BR,1BA$775
SoEl District LoftsStudio/1 Bath/Floorplan BStudio,1BA$799

Best Value Apartments for Rent in Downtown Springfield, MO

As of March 31, 2025 the best value apartment in the Downtown Springfield area is the $1.19 price per square foot Penthouse Model at 400 Place in the in the Central neighborhood starting from $3,000. The second greatest value Downtown Springfield apartment is the 4x4 Boulder E Model at Aspen Heights Springfield starting at $790 with a $0.50 price per square foot in the Central 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.
400 PlacePenthouse2BR,1BA$1.19
Aspen Heights Springfield4x4 Boulder E4BR,4BA$0.50
Artifacts Warehouse Lofts3 Bedroom3BR,2BA$1.20
Heers Luxury Living1 Bedroom ADA1BR,1BA$1.48
Embassy ApartmentsEmbassy Apartments - Close to MSU, Downtown Spf...2BR,1BA$0.87
The Crescent ApartmentsRadiance1BR,1BA$1.61
Elevate Student Living - Deep ElmD12BR,2BA$0.97
Park East - Sky ElevenHunt1BR,1BA$1.30
El Chaparral ApartmentsRenovated 1 Bedroom, 1 Bathroom1BR,1BA$1.63
Park East - The UThe Terrazo1BR,1BA$1.84

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Pet Friendly Lifestyle
Downtown Springfield, Springfield, MO

Ranked #22

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Getting Around the Downtown Springfield Neighborhood in Springfield, MO

Walk Score®

90 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

84 / 100

Very Bikeable

Biking is convenient for most trips

Frequently Asked Questions about Cheap Downtown Springfield Apartments

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

The cheapest apartment in Downtown Springfield is El Chaparral Apartments which is listed at $695, while the average apartment in Downtown Springfield costs $3,690.

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 81 regular apartments in Downtown Springfield that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Downtown Springfield?

Cheap apartments in Downtown Springfield have an average cost of $513 which is $3,177 cheaper than the average rent for all rentals in Downtown Springfield.

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.