Orchard Park
1516 Seven Pines Rd,
Springfield, IL 62704
1-3 Beds | $1,075 - $1,365
Rental Market Trends in Springfield, IL
What is the average rent in Springfield, IL?
$823/month
Average Rent
676 Sq Ft
Average Apartment Size
+3.9%
Increase in the Last Year
As of December 2024, the average rent in Springfield, IL is $823 per month. This is 47% lower than the national average rent of $1,560/month, making renting in Springfield more affordable than most cities in the US. When you rent an apartment in Springfield, you can expect to pay about $770 per month for a studio, $823 for a one-bedroom apartment, and around $999 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,333 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Springfield, IL?
In the past year, rent has increased by 3.9%, which averages out to $32 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Springfield, IL
Last Updated December 2024
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
25%
Below $700/month
44%
$700 - $1,000/month
26%
$1,001 - $1,500/month
4%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Springfield?
Based on current rent prices, Springfield/Decatur and Downtown Springfield" are the most affordable neighborhoods in Springfield.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Springfield?
Based on current rent prices, Downtown Springfield and Springfield/Decatur" are the most expensive neighborhoods in Springfield.
Neighborhood
Average Rent
Average Sq Ft
Which Springfield neighborhoods have the most rentals available?
The neighborhoods in Springfield with the most apartments available are Springfield/Decatur and Downtown Springfield" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Springfield, IL?
Because the average rent in Springfield is $823, you’ll want to make about $2,743 per month or $32,916 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Springfield, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Springfield, IL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$629/month
$871/month
One Bedroom
$775/month
$931/month
Two Bedroom
$994/month
$1,368/month
Three Bedroom
$1,333/month
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Monarch Investment and Management Group
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305
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PRE/3
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176
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114
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Dominium
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88
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Princeton Management
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.