Cheap Apartments for Rent in Springfield, MO from $500 (277 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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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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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Springfield, MO Local Guide

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Cheapest Neighborhoods for Apartments in Springfield, MO

Pricing Updated: 09/18/2026

Current apartment rentals in the Springfield, MO area range in price from $500 to $10,100 with an overall median price of $1,003. The three Springfield neighborhoods with the lowest median rent pricing are Sherman Avenue at $895, Woodland Heights at $895, and Walnut Street at $897. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Springfield Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Sherman Avenue$895$55070
Woodland Heights$895$500138
Walnut Street$897$50032
Parkwood Survival$900$505100
Rountree$909$50090
Weller$925$500188
Downtown Springfield$929$55071
Grant Beach$930$500179
Central$940$500151
Webster Park Shady Dell$945$505157

Cheapest Available Springfield Apartments for Rent

 

The cheapest available apartment rental in Springfield, MO is a 2 Beds unit found at North Terrace Apartments in the Northeast neighborhood priced from $575. The U at Park East in the Central neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $630. Here is today’s list of the most affordable Springfield apartments for rent:

Apartment ListingModel NameBed/BathPriced From
North Terrace Apartments2 x 1 Small2BR, 1BA$575
The U at Park East4BR/4BA - The Drake4BR, 4BA$630
Forest Cove Apartments2x1 - Forest Cove2BR, 1BA$650
Eastview ApartmentsStudioStudio, 1BA$650
Oakwood Townhomes1 Bedroom, 1 Bathroom Apartment1BR, 1BA$700
2850-2862 S Rogers2 Beds, 1 Baths2BR, 1BA$700
Seminole1 Bedroom, 1 Bath1BR, 1BA$715
El MadridEl Madrid 1 Bedroom, 1 Bathroom1BR, 1BA$725
Southwinds ApartmentsSouthwinds 1 Bedroom, 1 Bathroom1BR, 1BA$725

Best Value Apartments for Rent in Springfield, MO

As of September 18, 2026 the best value apartment in the Springfield area is the $0.75 price per square foot 1006 N 24th St Model at 1006 N 24th St, Unit Duplex 1006 N 24th St in the Christian County neighborhood starting from $1,800. The second greatest value Springfield apartment is the D Model at Vintage Park in the Christian County neighborhood starting at $1,300 with a $0.90 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.
1006 N 24th St, Unit Duplex 1006 N 24th St1006 N 24th St4BR, 3BA$0.75
Vintage ParkD2BR, 2BA$0.90
Vue on Walnut | Student HousingC2 | Three Bedroom3BR, 3BA$0.61
Campus CourtCampus Court 2 Bedroom, 1 Bath Townhome2BR, 1BA$0.77
TSHTSH 2 Bedroom, 2 Bathroom2BR, 2BA$0.89
Hillcrest 902 Bedroom2BR, 1BA$0.86
Village Club2 Bedroom, 1 Bathroom2BR, 1BA$0.81
Southwinds ApartmentsSouthwinds 1 Bedroom, 1 Bathroom1BR, 1BA$0.90
North Terrace Apartments2 x 1 Small2BR, 1BA$0.73
Sky Eleven2BR/2BA - Gillioz2BR, 2BA$0.90

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Springfield Overview

Springfield is the third largest city in Missouri. It is a commercial center and acts as the gateway to the Ozark Mountains. It is an important agricultural center that has been rapidly growing and strengthening the national economy over the years. Located on the Ozark plateau, it has a flat and gentle rolling terrain with areas of farmland and deciduous forest. A wide variety of Springfield apartments found all over the city make living here fantastic.

Why live in Springfield, MO?

Living in Springfield is easy since it has all one would need. It has a growing job market with 8.5% workforce growth in the last four years, making it the best place to fast-track your career. With Springfield Apartments costing 25% less than the national average, you can easily afford the home you have always wanted. Commuting is easy with less than 20 minutes average for you to get to your destination, and the vibrancy as well as friendliness of Springfield residents is incomparable. It is the ultimate place for those who love the outdoors with verdant woodlands, pristine lakes, and sparkling streams, making it perfect for outdoor adventures.

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

Explore Springfield, MO Rentals by Map

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Frequently Asked Questions about Cheap Springfield Apartments

What is a cheap apartment in Springfield?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Springfield is under $725.

What is the price of a cheap apartment in Springfield?

The cheapest apartment in Springfield is Oakwood Townhomes which is listed at $700, while the average apartment in Springfield costs $1,003.

What types of apartments are the cheapest in 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 1,800 regular apartments in 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 Springfield?

Cheap apartments in Springfield have an average cost of $585 which is $418 cheaper than the average rent for all rentals in Springfield.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.