Cheap Apartments for Rent in the Walnut Street Neighborhood of Springfield, MO from $500 (27 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Walnut Street area of 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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King's Apartments
Studio to 3 Bedroom Apartments

King's Apartments

945 E Elm StSpringfield, MO 65806
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Alexandria Apartments
1 to 2 Bedroom Apartments

Alexandria Apartments

1230 E McDaniel StSpringfield, MO 65802
  • Utilities Included
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Embassy Apartments
Studio to 3 Bedroom Apartments

Embassy Apartments

927-937 E Elm StSpringfield, MO 65806

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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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
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Cherry Plaza
2 Bedroom Apartments

Cherry Plaza

1210 E Cherry StSpringfield, MO 65802
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Walnut Apartments
2 Bedroom Apartments

Walnut Apartments

1138 E Walnut StSpringfield, MO 65806

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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1242 E Cherry St
1 to 2 Bedroom Apartments

1242 E Cherry St

1242 E Cherry StSpringfield, MO 65802
Showing Results 1-27, Page 1 of 1

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 1 Bed unit found at El Chaparral Apartments priced from $725. El Madrid has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. Here are the most affordable Walnut Street apartments for rent in Springfield, MO:

Apartment ListingModel NameBed/BathPriced From
El Chaparral ApartmentsEl Chaparral 1 Bedroom, 1 Bathroom1BR,1BA$725
El MadridEl Madrid 1 Bedroom, 1 Bathroom1BR,1BA$725
Spirit of St. LouisStudio1BR,1BA$760
Bear Garden Apartments1 bed, 1 bath Premium1BR,1BA$770
Cherry Plaza2 Bedroom Units Available - Close to Downtown &...2BR,2BA$800
East Manor ApartmentsEast Manor 2 Bedroom, 1 Bathroom2BR,1BA$900
1242 E Cherry St2 Beds, 1.5 Baths2BR,1BA$1,125
Regency Tower2 Bedroom2BR,2BA$1,205
East Cherry FlatsEast Cherry Flats4BR,4BA$2,598

Best Value Apartments for Rent in Walnut Street, MO

As of July 23, 2026 the best value apartment in the Walnut Street area is the $1.10 price per square foot 2 Bedroom Model at Regency Tower in the in the Central neighborhood starting from $1,205. The second greatest value Walnut Street apartment is the East Manor 2 Bedroom, 1 Bathroom Model at East Manor Apartments starting at $900 with a $0.88 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.
Regency Tower2 Bedroom2BR,2BA$1.10
East Manor ApartmentsEast Manor 2 Bedroom, 1 Bathroom2BR,1BA$0.88
1242 E Cherry St2 Beds, 1.5 Baths2BR,1.5BA$1.13
Cherry Plaza2 Bedroom Units Available - Close to Downtown &...2BR,2BA$1.07
El MadridEl Madrid 2 Bedroom, 1 Bathroom2BR,1BA$1.29
El Chaparral ApartmentsEl Chaparral 1 Bedroom, 1 Bathroom1BR,1BA$1.32
Bear Garden Apartments1 bed, 1 bath Premium1BR,1BA$1.56
Aspen Springfield2 Bedroom - Frisco A2BR,2BA$1.78
Spirit of St. LouisStudio1BR,1BA$1.82
East Cherry FlatsEast Cherry Flats4BR,4BA$6.50

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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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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Pet Friendly Lifestyle
Walnut Street, Springfield, MO

Ranked #34

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Frequently Asked Questions about Cheap Walnut Street Apartments

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 $725, while the average apartment in Walnut Street costs $1,395.

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 14 regular apartments in Walnut Street 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

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

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.