612 W Carpenter St
SpringfieldIL62702
Cheap Homes for Rent in Downtown Springfield Neighborhood of Springfield, IL from $700 (16 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Springfield area of Springfield.
616 New St
SpringfieldIL62704
417 E Cook St
SpringfieldIL62703
412 Rafter St
SpringfieldIL62702
619 S 5th St
SpringfieldIL62703
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.
1428 N 11th St
SpringfieldIL62702
2016 E Capitol Ave
SpringfieldIL62703
1727 E Morgan Ave
SpringfieldIL62703
201 Eastman Ave
SpringfieldIL62702
562 W Elliott Ave
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.
507 S Wesley St
SpringfieldIL62703
229 W Allen St
SpringfieldIL62704
1104 S 11th St
SpringfieldIL62703
1304 S Walnut St
SpringfieldIL62704
2005 E Laurel St
SpringfieldIL62703
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.
21 Amos Valley Dr
SpringfieldIL62702
Showing Results 1-16, Page 1 of 1
Downtown Springfield, Springfield, IL Local Guide
How much does it cost to rent a home in Downtown Springfield?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Springfield 2 Bedroom Homes for Rent | $1,109 | $750 | $1,350 |
| Downtown Springfield 3 Bedroom Homes for Rent | $1,212 | $1,000 | $1,600 |
| Downtown Springfield 4 Bedroom Homes for Rent | $1,400 | $1,400 | $1,400 |
| Downtown Springfield 5 Bedroom Homes for Rent | $2,450 | $2,450 | $2,450 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 16 rentals with your search options within a 2 mile radius of the Downtown Springfield Neighborhood of Springfield, IL.
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Downtown Springfield, Springfield, IL Local Guide
- Nearby Springfield neighborhoods
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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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Safe Harbor Properties | Studio | Studio,1BA | $730 |
| Capitol Plaza Apartments | One Bedroom, One Bath | 1BR,1BA | $896 |
| Smart Choice Park | 1 Bedroom Unit-Standard | 1BR,1BA | $925 |
Best Value Apartments for Rent in Downtown Springfield, IL
As of May 07, 2026 the best value apartment in the Downtown Springfield area is the $1.00 price per square foot 445 W Carpenter St Model at 445 W Carpenter St, Unit 1 in the in the Downtown Springfield neighborhood starting from $1,000. The second greatest value Downtown Springfield apartment is the 1530 S 4th St Model at 1530 S 4th St, Unit 3 starting at $920 with a $1.02 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 445 W Carpenter St, Unit 1 | 445 W Carpenter St | 2BR,1BA | $1.00 |
| 1530 S 4th St, Unit 3 | 1530 S 4th St | 1BR,1BA | $1.02 |
| 1221 W Washington St, Unit 2 | 1221 W Washington St | 2BR,1BA | $1.06 |
| 115 W Lawrence Ave, Unit C | 115 W Lawrence Ave | 1BR,1BA | $1.06 |
| 2000 S Douglas Ave, Unit 6 | 2000 S Douglas Ave | 2BR,1BA | $1.14 |
| Lincoln Tower Apartments | 1 Bed 1 Bath | 1BR,1BA | $1.41 |
| Safe Harbor Properties | 1st Floor Level | 1BR,1BA | $1.21 |
| Smart Choice Park | 1 Bedroom Unit-Standard | 1BR,1BA | $1.32 |
| 331 W Cedar St, Unit Apt#3 | 331 W Cedar St | 1BR,1BA | $1.42 |
| 522 W Allen St, Unit 522 West Allen, Unit 3 | 522 W Allen St | 1BR,1BA | $1.48 |
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.
Read Article
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.
Read ArticleDon'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.
Read ArticleThe 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.
Read ArticleCash 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.
Read ArticleQuick 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 LifestyleDowntown Springfield, Springfield, IL
Ranked #1
Among cities in Illinois for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.0Pet Friendly
Best Local Schools in Downtown Springfield, Springfield, IL
McClernand Elementary School
Springfield School District 186
Public School - Grades K-5 (210)
4 out of 10
School data provided by Great Schools
Frequently Asked Questions about Downtown Springfield
What type of rentals are currently available in Downtown Springfield?
There are currently 104 Apartments for Rent in Downtown Springfield, IL with pricing that ranges from $575 to $3,400. There are also 38 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Springfield ranging from $750 to $2,450.
What is the current price range for Rental Homes in Downtown Springfield?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Springfield ranges from $750 to $2,450 with an average monthly rent of $1,416.
How much are larger Three and Four Bedroom Rentals in Downtown Springfield?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Springfield range from $2,070 to $2,110, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,000 to $1,600. Four Bedroom Single-Family rentals are also available starting from $1,400 and Four Bedroom Apartments start at $1,500.
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
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
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.
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.
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.