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