Cheapest Neighborhoods in Springfield, MO
Some of the cheapest neighborhoods in Springfield are Walnut Street, East Springfield, and West Central. These neighborhoods offer some of the lowest rent prices in Springfield, making them ideal for renters on a budget. As of September 10, 2026, the average rent in Springfield is $921, which is 2.9% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Walnut Street
Average Rent
$819/Month
Year-Over-Year Rent Change
0.9%
Units Available
22 Rentals
When you’re looking for a great Springfield neighborhood on a budget, check out Walnut Street. The average rent is $819, compared to the city average of $921. Rent prices have decreased by 0.9%. Walnut Street is convenient to Springfield-Branson Ntl, Discovery Center of Springfield, and Evangel University.
East Springfield
Average Rent
$903/Month
Year-Over-Year Rent Change
4.6%
Units Available
43 Rentals
East Springfield is an affordable neighborhood in Springfield with an average rent price of $903. Compare this to the city average of $921. In the past year, rent prices have increased by 4.6%. East Springfield provides easy access to Springfield Conservation Nature Center, Dickerson Park Zoo, and 2730 E Chesnut Expy.
West Central
Average Rent
$949/Month
Year-Over-Year Rent Change
2%
Units Available
56 Rentals
If you’re looking for a great, affordable neighborhood in Springfield, West Central might be the perfect place! It has an average rent price of $949, while the city’s average stands at $921. In the last year, prices have increased by 2%. West Central is near Dickerson Park Zoo, Rutledge-Wilson Farm Park, and Evangel University.
Southern Hills
Average Rent
$975/Month
Year-Over-Year Rent Change
3.8%
Units Available
22 Rentals
Southern Hills is a top choice for budget-conscious renters for a variety of reasons. The average rent in Southern Hills is $975 while the city average is $921. This is a 3.8% difference from last year. Residents enjoy convenient access to Wonders of Wildlife, Discovery Center of Springfield, and Springfield Conservation Nature Center.
Downtown Springfield
Average Rent
$1,142/Month
Year-Over-Year Rent Change
2.1%
Units Available
44 Rentals
When you’re looking for a great Springfield neighborhood on a budget, check out Downtown Springfield. The average rent is $1,142, compared to the city average of $921. Rent prices have decreased by 2.1%. Downtown Springfield is convenient to Missouri State University, Gri Center, and Ozarks Tech. C.C., Springfield.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.