Cheap Apartments for Rent in the Walnut Street Neighborhood of Springfield, MO from $500 (17 Rentals)

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

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.

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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King's Apartments
Studio to 3 Bedroom Apartments

King's Apartments

945 E Elm StSpringfield, MO 65806
property at 1009 E Walnut St

1009 E Walnut St

SpringfieldMO65806
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Alexandria Apartments
1 to 2 Bedroom Apartments

Alexandria Apartments

1230 E McDaniel StSpringfield, MO 65802
  • Utilities Included

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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Ambassador Apartments
Studio to 2 Bedroom Apartments

Ambassador Apartments

1235 Elm StSpringfield, MO 65802
  • Utilities Included
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H & T Apartments
Studio to 2 Bedroom Apartments

H & T Apartments

1222 E Elm StSpringfield, MO 65802
  • Utilities Included

Walnut Street, Springfield, MO Local Guide

Cheapest Available Walnut Street Apartments for Rent

 

The cheapest available apartment rental in the Walnut Street area of Springfield, MO is a Studio unit found at El Madrid priced from $675. El Chaparral Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. Here are the most affordable Walnut Street apartments for rent in Springfield, MO:

Apartment ListingModel NameBed/BathPriced From
El MadridEl Madrid StudioStudio,1BA$675
El Chaparral ApartmentsEl Chaparral 1 Bedroom, 1 Bathroom1BR,1BA$695
Cherry Plaza2 Bedroom Units Available - Close to Downtown &...2BR,2BA$825
1325 E Cherry St2 bed 2 bath, July 1st2BR,2BA$1,220
East Cherry Flats2 bedroom/ 2 bathroom2BR,2BA$1,398

Best Value Apartments for Rent in Walnut Street, MO

As of November 30, 2025 the best value apartment in the Walnut Street area is the $1.30 price per square foot B - 4 Bed/2 Bath July Model at Walnut Home - Behind Greek Row! in the in the Central neighborhood starting from $2,340. The second greatest value Walnut Street apartment is the 3 Bedroom/3 Bath, June 1 Model at Bear Place starting at $1,545 with a $1.03 price per square foot in the Central neighborhood. Here is today’s list of the best values for Walnut Street apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Walnut Home - Behind Greek Row!B - 4 Bed/2 Bath July4BR,2BA$1.30
Bear Place3 Bedroom/3 Bath, June 13BR,3BA$1.03
1325 E Cherry St3 bed, 3 bath, Aug 1st3BR,3BA$1.22
Aspen Heights Springfield2x2 Frisco A/B2BR,2BA$0.91
Cherry Plaza2 Bedroom Units Available - Close to Downtown &...2BR,2BA$1.10
1420 E Cherry St, Unit CH 41420 E Cherry St1BR,1BA$1.20
El Chaparral ApartmentsEl Chaparral 1 Bedroom, 1 Bathroom1BR,1BA$1.26
El MadridEl Madrid StudioStudio ,1BA$2.19
East Cherry Flats1 Bed Detached Bath4BR,4BA$4.66

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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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
Walnut Street, Springfield, MO

Ranked #39

Among cities in Missouri for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Getting Around the Walnut Street Neighborhood in Springfield, MO

Walk Score®

72 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

75 / 100

Very Bikeable

Biking is convenient for most trips

Frequently Asked Questions about Cheap Walnut Street Apartments

What types of apartments are the cheapest in Walnut Street?

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 Walnut Street 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 Walnut Street?

Cheap apartments in Walnut Street have an average cost of $769 which is $1,571 cheaper than the average rent for all rentals in Walnut Street.

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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.