
Cheap Apartments for Rent in the Phelps Neighborhood of Springfield, MO from $600 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in the Phelps area of Springfield.


Total Monthly Price
SoEl District Lofts

Bears Tower

Magers Management - Student Housing

504 Cherry St

432 E Harrison St
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.

510 E Harrison

The M @ 414

Springfield Commons

The Christina Apartments

Jenny Lind Hall

Colonial Courts
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.
Phelps, Springfield, MO Local Guide

How much does it cost to rent an apartment in Phelps?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Phelps Studio Apartments | $870 | $700 | $905 |
| Phelps 1 Bedroom Apartments | $1,174 | $1,149 | $1,199 |
| Phelps 2 Bedroom Apartments | $1,317 | $1,100 | $1,999 |
| Phelps 3 Bedroom Apartments | $1,659 | $1,575 | $1,725 |
| Phelps 4 Bedroom Apartments | $2,200 | $2,000 | $2,400 |
Browse Apartments in this Neighborhood
There are currently 12 rentals with your search options within a 2 mile radius of the Phelps Neighborhood of Springfield, MO.
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Cheapest Available Phelps Apartments for Rent
 | Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Beartown Flats | Upgraded Studio | Studio,1BA | $700 |
| Bears Tower | Tower B, June 1st | 2BR,2BA | $1,100 |
Best Value Apartments for Rent in Phelps, MO
As of April 01, 2026 the best value apartment in the Phelps area is the $1.11 price per square foot Tower A, August 1st Model at Bears Tower in the in the Central neighborhood starting from $2,000. The second greatest value Phelps apartment is the 2x1 Model at Bear Paw Commons starting at $599 with a $1.07 price per square foot in the Central neighborhood. Here is today’s list of the best values for Phelps apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Bears Tower | Tower A, August 1st | 4BR,4BA | $1.11 |
| Bear Paw Commons | 2x1 | 2BR,1BA | $1.07 |
| Bear Village | Four Bedroom | 4BR,4BA | $1.16 |
| Beartown Flats | Upgraded Studio | Studio ,1BA | $1.75 |
Frequently Asked Questions about Cheap Phelps Apartments
What types of apartments are the cheapest in Phelps?
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 7 regular apartments in Phelps that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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

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.

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.

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.

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.