Cheap Homes for Rent in Springfield, IL from $500 (39 Rentals)

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property at 811 S State St

811 S State St

SpringfieldIL62704

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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property at 226 S 6th St

226 S 6th St

SpringfieldIL62701

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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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.

Read Article
Showing Results 1-39, Page 1 of 1

Springfield, IL Local Guide

Cheapest Neighborhoods for Apartments in Springfield, IL

Pricing Updated: 09/14/2025

Current apartment rentals in the Springfield, IL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Springfield Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Springfield$1,300$57542
Enos Park$1,300$57542

Cheapest Available Springfield Apartments for Rent

 

The cheapest available apartment rental in Springfield, IL is a Studio unit found at The Hickox Collection in the Downtown Springfield neighborhood priced from $628. Whispering Pines Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here is today’s list of the most affordable Springfield apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Hickox CollectionThe HickoxStudio,1BA$628
Whispering Pines ApartmentsWhispering Pines Apartments – 1 Bed, 1 Bath Ess...1BR,1BA$700
Cobblestone ApartmentsCobblestone 1BD1BR,1BA$750
SHP at Governor Place1 BDR Model1BR,1BA$785
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$799
Ravenwood TownhomesTownhome2BR,1BA$875
Safe Harbor Properties1 Bdr 1 Bath with Balcony. WiFi Included.1BR,1BA$875
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$875
Cedar Point ApartmentsOne Bedroom Garden1BR,1BA$900
Huntington Ridge ApartmentsOne Bedroom1BR,1BA$906

Best Value Apartments for Rent in Springfield, IL

As of September 14, 2025 the best value apartment in the Springfield area is the $1.17 price per square foot CP Townhome 3BR Model at Cobblestone Place in the starting from $1,975. The second greatest value Springfield apartment is the 3 Bedroom Model at Ash Grove starting at $1,450 with a $1.09 price per square foot . Here is today’s list of the best values for Springfield apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Cobblestone PlaceCP Townhome 3BR3BR,2.5BA$1.17
Ash Grove3 Bedroom3BR,2BA$1.09
Ravenwood TownhomesTownhome2BR,1.5BA$0.88
SHP at Governor Place2 BDR VIRTUALLY STAGED WIFI INCLUDED2BR,1BA$0.92
Safe Harbor PropertiesDowntown1BR,1BA$1.03
Pine Ridge Apartments2 Bed2BR,1.5BA$1.28
721 South Grand Ave WOne Bedroom1BR,1BA$1.24
Cobblestone ApartmentsCobblestone 2BD2BR,1BA$1.06
Lincoln Tower Apartments1 Bed 1 Bath1BR,1BA$1.07
Smart Choice Park1 Bedroom Unit-Standard1BR,1BA$1.25

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Springfield, IL
Population: 114,694

Ranked #254

in US Census Population by City

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Best Local Schools in
Springfield, IL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Springfield, IL Rentals by Map

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See the most popular apartments and homes in Springfield, IL

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Frequently Asked Questions about Springfield

What type of rentals are currently available in Springfield?

There are currently 184 Apartments for Rent in Springfield, IL with pricing that ranges from $628 to $3,000. There are also 84 Single Family Homes for rent, Condos, and Townhome rentals currently available in Springfield ranging from $510 to $3,495.

What is the current price range for Rental Homes in Springfield?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Springfield ranges from $510 to $3,495 with an average monthly rent of $1,479.

How much are larger Three and Four Bedroom Rentals in Springfield?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Springfield range from $900 to $3,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $510 to $2,900. Four Bedroom Single-Family rentals are also available starting from $1,100 and Four Bedroom Apartments start at $1,500.

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 The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.