Average Rent in Springfield, IL↑ Rents rising 5.8% YoY🔺 8th priciest in IL

Springfield, IL has rental prices ranging from $776/month to $1,564/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $921/month — 34% below the national average of $1,400/month. With a median household income of $74,580/year, spending $921/month on a 1-bedroom represents 15% of gross income — within the recommended 30% threshold.

How Springfield Compares

With an average 2-bedroom rent of $1,132/month, Springfield ranks #8 most expensive of the 87 cities tracked in Illinois — pricier than 78% of all US cities in our data.

The Springfield Rental Market

The Springfield, IL area has a population of about 207,386 and 29% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Springfield, IL have risen by $62/month (5.8%) over the past year, from $1,070 to $1,132. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Springfield, IL without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $36,840. The local median household income of $74,580 exceeds that threshold by $37,740, making Springfield relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Springfield, IL is $172,645, giving a price-to-rent ratio of 12.7. The break-even point between renting and buying is roughly 13 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Springfield's neighborhoods. Among the highest-value areas are Bunn Park ($54,468 median home value), Enos Park ($78,984 median home value), Old Aristocracy Hill ($82,330 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Springfield, IL Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Springfield?

Break-even analysis and mortgage estimates based on local market data.

Living in Springfield

Cost of living, job market, crime rates, and moving cost estimates.