Best Affordable Neighborhoods in Springfield, MO
Some of the cheapest neighborhoods in Springfield are Southern Hills, Walnut Street, and Rountree Area. These neighborhoods offer some of the lowest rent prices in Springfield, making them ideal for renters on a budget. As of April 28, 2026, the average rent in Springfield is $906, which is 1.3% 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.
Southern Hills
Average Rent
$818/Month
Year-Over-Year Rent Change
0.3%
Units Available
16 Rentals
Southern Hills is an affordable neighborhood in Springfield with an average rent price of $818. Compare this to the city average of $906. In the past year, rent prices have decreased by 0.3%. Southern Hills provides easy access to Battlefield Towers, Ozarks Tech. C.C., Springfield, and Rutledge-Wilson Farm Park.
Walnut Street
Average Rent
$854/Month
Year-Over-Year Rent Change
1.9%
Units Available
28 Rentals
If you’re looking for a great, affordable neighborhood in Springfield, Walnut Street might be the perfect place! It has an average rent price of $854, while the city’s average stands at $906. In the last year, prices have increased by 1.9%. Walnut Street is near Wonders of Wildlife, Gri Center, and Springfield-Greene County Botanical Center.
Rountree Area
Average Rent
$864/Month
Year-Over-Year Rent Change
1.1%
Units Available
10 Rentals
Rountree Area is a top choice for budget-conscious renters for a variety of reasons. The average rent in Rountree Area is $864 while the city average is $906. This is a -1.1% difference from last year. Residents enjoy convenient access to Dickerson Park Zoo, Wonders of Wildlife, and Springfield-Greene County Botanical Center.
Phelps
Average Rent
$868/Month
Units Available
13 Rentals
When you’re looking for a great Springfield neighborhood on a budget, check out Phelps. The average rent is $868, compared to the city average of $906. Phelps is convenient to Streetscape Retail, Missouri State University, and Springfield-Greene County Botanical Center.
West Central
Average Rent
$938/Month
Year-Over-Year Rent Change
0.9%
Units Available
73 Rentals
West Central is an affordable neighborhood in Springfield with an average rent price of $938. Compare this to the city average of $906. In the past year, rent prices have increased by 0.9%. West Central provides easy access to Springfield-Greene County Botanical Center, Ozarks Tech. C.C., Springfield, and Drury University.
East Springfield
Average Rent
$951/Month
Year-Over-Year Rent Change
3.8%
Units Available
59 Rentals
If you’re looking for a great, affordable neighborhood in Springfield, East Springfield might be the perfect place! It has an average rent price of $951, while the city’s average stands at $906. In the last year, prices have increased by 3.8%. East Springfield is near Habersham Center, Ozarks Tech. C.C., Springfield, and Wonders of Wildlife.
Downtown Springfield
Average Rent
$1,033/Month
Year-Over-Year Rent Change
6.6%
Units Available
84 Rentals
Downtown Springfield is a top choice for budget-conscious renters for a variety of reasons. The average rent in Downtown Springfield is $1,033 while the city average is $906. This is a 6.6% difference from last year. Residents enjoy convenient access to Carter Retail, Springfield-Branson Ntl, and Gri Center.
Southwest Springfield
Average Rent
$1,045/Month
Year-Over-Year Rent Change
0.3%
Units Available
230 Rentals
When you’re looking for a great Springfield neighborhood on a budget, check out Southwest Springfield. The average rent is $1,045, compared to the city average of $906. Rent prices have increased by 0.3%. Southwest Springfield is convenient to Discovery Center of Springfield, Wonders of Wildlife, and Ozarks Tech. C.C., Springfield.
Southeast Springfield
Average Rent
$1,053/Month
Year-Over-Year Rent Change
1%
Units Available
129 Rentals
Southeast Springfield is an affordable neighborhood in Springfield with an average rent price of $1,053. Compare this to the city average of $906. In the past year, rent prices have increased by 1%. Southeast Springfield provides easy access to Springfield-Branson Ntl, Evangel University, and Primrose Marketplace.
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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.