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Average Rent in Springfield, IL

Home  »  IL  »  Springfield

Current Versus Historical Springfield, IL Rents

Springfield rentals average $675 for a studio rental to $1,800 for a 4-bedroom rental. The median price of all currently available listings is $995, or roughly $1 per square feet.
For the apartment units and housing in May 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $1,063 (242.99%) year-over-year from $437 to $1,500. 1-bedroom rentals prices have increased by $29 (3.98%) year-over-year from $733 to $763. 2-bedroom rentals prices have increased by $41 (4.65%) year-over-year from $872 to $912. 3-bedroom rentals prices have decreased by $103 (-9.62%) year-over-year from $1,072 to $969. 4-bedroom rentals prices have increased by $283 (18.68%) year-over-year from $1,517 to $1,800. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 46.46% this month. 1-bedroom rents have gone up by 1.67% this month. 2-bedroom rents have gone down by 0.00% this month. 3-bedroom rents have gone down by 21.83% this month. 4-bedroom rents have gone up by 10.20% this month.
Beds
Price / Sqft
 May 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $1.56 $1,500 $437 (242.99%) $446 (236.45%)
1 BR $1.23 $763 $733 (3.98%) $638 (19.45%)
2 BR $1.06 $912 $872 (4.65%) $739 (23.38%)
3 BR $1.12 $969 $1,072 (-9.62%) $1,067 (-9.16%)
4+ BR $1.04 $1,800 $1,517 (18.68%) $1,425 (26.32%)

Historical Rents in Springfield, IL

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Springfield



Let's compare Springfield, IL's rent against other top cities nearby by bedroom size.
City Studio 1 Bed 2 Bed All

Top Neighborhoods Near Springfield



View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All

Top Counties Near Springfield

The average rent for rentals in these counties is $995. That's roughly around $1 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Capital, IL. It's average rent per month is $995. Vice versa, with an average rent of $995, Capital, IL is the most expensive county by Springfield, IL.

Typically, rent for studios in Springfield, IL is on par with the other counties nearby. In comparison, rent for one bedroom listings in Springfield, IL is on par with the other counties nearby. Finally, rent for two bedrooms in Springfield, IL is on par with the other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Capital, IL $675 $788 $950 $995

Top Zipcodes Near Springfield



You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All

Frequently Asked Questions - Springfield Average Rents

What is the average rent price in Springfield, IL?
The average monthly rental price for Springfield, IL apartments for rent is approximately $995. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Springfield, IL rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Springfield, IL.
How much is a studio apartment in Springfield, IL?
The average monthly rental price for studio apartments is $675 and an average price per square feet of $1.56. There are a total of 4 studio apartment listings currently available for rent in Springfield.
How much is a one bedroom apartment in Springfield, IL?
The average monthly rental price for one bedroom apartments is $788 and an average price per square feet of $1.23. There are a total of 6 one bedroom apartment listings currently available for rent in Springfield.
How much is a two bedroom apartment in Springfield, IL?
The average monthly rental price for two bedroom apartments is $950 and an average price per square feet of $1.06. There are a total of 26 two bedroom apartment listings currently available for rent in Springfield.
How have rent prices in Springfield, IL changed this year?
Rent prices for rentals in Springfield, IL can fluctuate yearly. Specifically, studio rental prices have changed by 2.43%, one bedroom rental prices have changed by 0.04%, two bedroom rental prices have changed by 0.05%, and three bedroom rental prices have changed by -0.10% year-over-year.
What is a reasonable rent price in Springfield, IL?
A reasonable rent price in Springfield, IL is around $796/month. You can search for these reasonably priced rental listings on RentHop.
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