Cheap Apartments for Rent in the Downtown Springfield Neighborhood of Springfield, IL from $500 (38 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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803 W Edwards St, Unit B
$650
Total Monthly Price

Total Monthly Price

Base Rent
$650
Total Monthly Price
$650
Studio Apartment Available Now

803 W Edwards St, Unit B

803 W Edwards StSpringfield, IL 62704
Affordability
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506 S Walnut St, Unit Apt B
$725
Total Monthly Price

Total Monthly Price

Base Rent
$725
Total Monthly Price
$725
1 Bedroom Apartment Available Now

506 S Walnut St, Unit Apt B

506 S Walnut StSpringfield, IL 62704
Affordability
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property at 1127 N 6th St

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

1 Bedroom, 1 Bath Condo for Rent

Available Now

1127 N 6th St, Unit 2

1127 N 6th St
SpringfieldIL62702

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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University Villa
Studio to 2 Bedroom Apartments

University Villa

407 W Calhoun AveSpringfield, IL 62702
  • Utilities Included
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Dorset Apartments
1 Bedroom Apartments

Dorset Apartments

1017-1021 S Spring StSpringfield, IL 62704
  • Utilities Included
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632 S Walnut St
1 Bedroom Apartments

632 S Walnut St

632 S Walnut StSpringfield, IL 62704
  • Utilities Included

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Ash Street
1 to 2 Bedroom Apartments

Ash Street

1306-1312 W Ash StSpringfield, IL 62704
  • Utilities Included
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Centre @ 501 Apartments
1 to 2 Bedroom Apartments

Centre @ 501 Apartments

501 E Capitol AveSpringfield, IL 62701
  • Utilities Included
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811 Reisch
1 Bedroom Apartments

811 Reisch

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

SHP at Governor Place

1021 W Governor StSpringfield, IL 62704
  • Utilities Included
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520 Illini Ct
1 to 2 Bedroom Apartments

520 Illini Ct

520 Illini CtSpringfield, IL 62704
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Showing Results 1-38, 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 Studio unit found at Safe Harbor Properties priced from $730. Lincoln Tower Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here are the most affordable Downtown Springfield apartments for rent in Springfield, IL:

Apartment ListingModel NameBed/BathPriced From
Safe Harbor PropertiesStudioStudio,1BA$730
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$799
Capitol Plaza ApartmentsOne Bedroom, One Bath1BR,1BA$896
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$925
Lincoln Square Apartments2 Bedroom Townhouse - Available2BR,1BA$1,650

Best Value Apartments for Rent in Downtown Springfield, IL

As of March 15, 2026 the best value apartment in the Downtown Springfield area is the $1.50 price per square foot 2 Bedroom Townhouse - Available Model at Lincoln Square Apartments in the in the Downtown Springfield neighborhood starting from $1,650. The second greatest value Downtown Springfield apartment is the 115 W Lawrence Ave Model at 115 W Lawrence Ave, Unit C starting at $930 with a $1.06 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.
Lincoln Square Apartments2 Bedroom Townhouse - Available2BR,1.5BA$1.50
115 W Lawrence Ave, Unit C115 W Lawrence Ave1BR,1BA$1.06
331 S New St, Unit 331 S New Street331 S New St1BR,1BA$1.60
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.07
Safe Harbor Properties1st Floor Level1BR,1BA$1.21
Smart Choice Park1 Bedroom Unit-Deluxe1BR,1BA$1.42
331 W Cedar St, Unit Apt#3331 W Cedar St1BR,1BA$1.38
Capitol Plaza ApartmentsOne Bedroom, One Bath1BR,1BA$1.70
506 S Walnut St, Unit Apt B506 S Walnut St1BR,1BA$1.45
803 W Edwards St, Unit B803 W Edwards StStudio ,1BA$1.35

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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 cities in Illinois 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

Frequently Asked Questions about Cheap Downtown Springfield Apartments

What is the Cheapest Studio apartment in Downtown Springfield?

Currently the most affordable Cheap Studio Apartment in Downtown Springfield is at Safe Harbor Properties listed at $730.

How much is rent for a Cheap One Bedroom Downtown Springfield Apartment?

The lowest price for a Cheap One Bedroom Downtown Springfield Apartment is $799 at Lincoln Tower Apartments.

What is the lowest price for a Cheap Two Bedroom Downtown Springfield Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Springfield is starting from $925 at Safe Harbor Properties.

Expert Rental Resources

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.

Articles, How-To's, and Tips

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.