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.

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.

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.

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Alexandria Apartments
2 Bedroom Apartments

Alexandria Apartments

1230 E McDaniel StSpringfield, MO 65802
  • Utilities Included

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.

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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
1 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 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 ListingModel NameBed/BathPriced From
El Chaparral ApartmentsEl Chaparral 1 Bedroom, 1 Bathroom1BR,1BA$695
Cherry Plaza2 Bedroom Units Available - Close to Downtown &...2BR,2BA$775
Embassy ApartmentsEmbassy Apartments - Close to MSU, Downtown Spf...2BR,1BA$775
SoEl District LoftsStudio/1 Bath/Floorplan BStudio,1BA$799
Spirit of St. LouisStudio1BR,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 ListingModel NameBed/BathPrice Per Sq.Ft.
Walnut Home - Behind Greek Row!B - 4 Bed/2 Bath July4BR,2BA$1.22
Bear Place3 Bedroom/3 Bath, June 13BR,3BA$1.00
Artifacts Warehouse Lofts2/2 Bedroom2BR,2BA$0.96
Embassy ApartmentsEmbassy Apartments - Close to MSU, Downtown Spf...2BR,1BA$0.87
Elevate Student Living - Deep ElmD12BR,2BA$0.97
Cherry Plaza2 Bedroom Units Available - Close to Downtown &...2BR,2BA$1.03
The 505 (MO)STUDIOStudio ,1BA$1.56
El Chaparral ApartmentsRenovated 1 Bedroom, 1 Bathroom1BR,1BA$1.63
The Crossings at East Cherry1 Bedroom, 1 Bath1BR,1BA$2.08
SoEl District LoftsStudio/1 Bath/Floorplan BStudio ,1BA$2.02

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Walnut Street, Springfield, MO

Ranked #26

Among neighborhoods in Springfield, MO 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 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.

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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.

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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.

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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.

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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.