Cheap Apartments for Rent in the Walnut Street Neighborhood of Springfield, MO from $500 (25 Rentals)

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

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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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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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
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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

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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Cherry Plaza
2 Bedroom Apartments

Cherry Plaza

1210 E Cherry StSpringfield, MO 65802
Showing Results 1-25, 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 4 Beds unit found at Aspen Springfield priced from $599. Spirit of St. Louis has the second lowest priced unit, which is a 1 Bed apartment currently listed from $760. Here are the most affordable Walnut Street apartments for rent in Springfield, MO:

Apartment ListingModel NameBed/BathPriced From
Aspen Springfield4 Bedroom - Boulder A4BR,4BA$599
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
Walnut Home - Behind Greek Row!B - 3 Bed 3 Bath, July 13BR,2BA$1,650

Best Value Apartments for Rent in Walnut Street, MO

As of June 08, 2026 the best value apartment in the Walnut Street area is the $1.17 price per square foot C 4 bed 4 bath, Aug 1 Model at Walnut Home - Behind Greek Row! in the in the Central neighborhood starting from $2,100. The second greatest value Walnut Street apartment is the 1420 E Cherry St Model at 1420 E Cherry St, Unit CH 4 starting at $900 with a $1.20 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!C 4 bed 4 bath, Aug 14BR,4BA$1.17
1420 E Cherry St, Unit CH 41420 E Cherry St1BR,1BA$1.20
Cherry Plaza2 Bedroom Units Available - Close to Downtown &...2BR,2BA$1.07
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 #35

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 Spirit of St. Louis which is listed at $760, while the average apartment in Walnut Street costs $1,440.

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 16 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 $582 which is $858 cheaper than the average rent for all rentals in Walnut Street.

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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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.