Cheap Apartments for Rent in the Downtown Springfield Neighborhood of Springfield, IL from $500 (41 Rentals)

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

property at 2013 N 11th St

$800 - $850

1 Bedroom Rentals

Available Now

2013 N 11th St

SpringfieldIL62702

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 412 Rafter St

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

2 Bedroom, 1 Bath Home for Rent

Available Now

412 Rafter 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 1-41, 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. Capitol Plaza Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $896. Here are the most affordable Downtown Springfield apartments for rent in Springfield, IL:

Apartment ListingModel NameBed/BathPriced From
Safe Harbor PropertiesStudioStudio,1BA$730
Capitol Plaza ApartmentsOne Bedroom, One Bath1BR,1BA$896
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$925

Best Value Apartments for Rent in Downtown Springfield, IL

As of April 29, 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 445 W Carpenter St Model at 445 W Carpenter St, Unit 1 starting at $1,000 with a $1.00 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
445 W Carpenter St, Unit 1445 W Carpenter St2BR,1BA$1.00
1530 S 4th St, Unit 31530 S 4th St1BR,1BA$1.02
1221 W Washington St, Unit 21221 W Washington St2BR,1BA$1.06
2000 S Douglas Ave, Unit 62000 S Douglas Ave2BR,1BA$1.14
115 W Lawrence Ave, Unit C115 W Lawrence Ave1BR,1BA$1.06
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.41
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$1.32
Safe Harbor PropertiesStudioStudio ,1BA$1.08
331 W Cedar St, Unit Apt#3331 W Cedar St1BR,1BA$1.42

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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

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

The lowest price for a Cheap One Bedroom Downtown Springfield Apartment is $875 at Safe Harbor Properties.

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.

What is the most affordable Downtown Springfield Three Bedroom Apartment?

The best deal on a cheap Downtown Springfield Three Bedroom Apartment rental is at Lincoln Tower Apartments and starts from $2,000.

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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.