
Cheap Apartments for Rent in the Walnut Street Neighborhood of Springfield, MO from $500 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in the Walnut Street area of Springfield.


El Madrid

East Manor Apartments
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.

Artifacts Warehouse Lofts

SoEl District Lofts

Spirit of St. Louis

1420 E Cherry St, Unit CH 4
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

The Wayfarer in the Dale

1009 E Walnut St
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
Walnut Street, Springfield, MO Local Guide

How much does it cost to rent an apartment in Walnut Street?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Walnut Street Studio Apartments | $916 | $675 | $1,118 |
Walnut Street 1 Bedroom Apartments | $974 | $695 | $1,285 |
Walnut Street 2 Bedroom Apartments | $1,174 | $730 | $1,600 |
Walnut Street 3 Bedroom Apartments | $1,319 | $695 | $1,800 |
Walnut Street 4 Bedroom Apartments | $1,173 | $599 | $2,676 |
Browse Apartments in this Neighborhood
There are currently 17 rentals with your search options within a 2 mile radius of the Walnut Street Neighborhood of Springfield, MO.
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Walnut Street, Springfield, MO Local Guide
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Cheapest Available Walnut Street Apartments for Rent
 The cheapest available apartment rental in the Walnut Street area of Springfield, MO is a 1 Bed unit found at El Chaparral Apartments priced from $695. Cherry Plaza has the second lowest priced unit, which is a 2 Beds apartment currently listed from $775. Here are the most affordable Walnut Street apartments for rent in Springfield, MO:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
El Chaparral Apartments | El Chaparral 1 Bedroom, 1 Bathroom | 1BR,1BA | $695 |
Cherry Plaza | 2 Bedroom Units Available - Close to Downtown &... | 2BR,2BA | $775 |
Embassy Apartments | Embassy Apartments - Close to MSU, Downtown Spf... | 2BR,1BA | $775 |
SoEl District Lofts | Studio/1 Bath/Floorplan B | Studio,1BA | $799 |
Spirit of St. Louis | Studio | 1BR,1BA | $810 |
Best Value Apartments for Rent in Walnut Street, MO
As of June 16, 2025 the best value apartment in the Walnut Street area is the $1.22 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 $2,200. The second greatest value Walnut Street apartment is the 3 Bedroom/3 Bath, June 1 Model at Bear Place starting at $1,500 with a $1.00 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Walnut Home - Behind Greek Row! | B - 4 Bed/2 Bath July | 4BR,2BA | $1.22 |
Bear Place | 3 Bedroom/3 Bath, June 1 | 3BR,3BA | $1.00 |
Artifacts Warehouse Lofts | 2/2 Bedroom | 2BR,2BA | $0.96 |
Embassy Apartments | Embassy Apartments - Close to MSU, Downtown Spf... | 2BR,1BA | $0.87 |
Elevate Student Living - Deep Elm | D1 | 2BR,2BA | $0.97 |
Cherry Plaza | 2 Bedroom Units Available - Close to Downtown &... | 2BR,2BA | $1.03 |
The 505 (MO) | STUDIO | Studio ,1BA | $1.56 |
El Chaparral Apartments | Renovated 1 Bedroom, 1 Bathroom | 1BR,1BA | $1.63 |
The Crossings at East Cherry | 1 Bedroom, 1 Bath | 1BR,1BA | $2.08 |
SoEl District Lofts | Studio/1 Bath/Floorplan B | Studio ,1BA | $2.02 |
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.
Pet Friendly LifestyleWalnut Street, Springfield, MO
Ranked #26
Among neighborhoods in Springfield, MO for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
2.5Pet Friendly
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
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Walnut Street Apartments
What is a cheap apartment in Walnut Street?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Walnut Street is under $1,800.
What is the price of a cheap apartment in Walnut Street?
The cheapest apartment in Walnut Street is El Chaparral Apartments which is listed at $695, while the average apartment in Walnut Street costs $1,500.
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 30 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 $349 which is $1,151 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.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.