Homes & Apartments for Rent in 62704

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What to Know About

Living in 62704

Springfield is the historic capital city of Illinois, known for its rich history, charming neighborhoods, and numerous attractions. Springfield's most famous figure is Abraham Lincoln, and visitors can explore his legacy at attractions like the Lincoln Home National Historic Site, Abraham Lincoln Presidential Library and Museum, and Illinois State Capitol. The city also has several top-rated universities, including the University of Illinois at Springfield and Lincoln Land Community College. The local economy is strong, with various manufacturing, technology, and healthcare companies in the area ensuring that residents have access to a wide range of employment opportunities.

Nature enthusiasts got plenty to enjoy with the Henson Robinson Zoo, Washington Park Botanical Garden, and the Sangamon River Trail. In addition, Springfield is home to a diverse range of events that take place throughout the year, such as the Illinois State Fair held in the city every August, the Springfield Jazz and Roots Festival, and the International Route 66 Mother Road Festival, which are all great opportunities to explore the city's rich culture and history.

Springfield is an excellent place to call home, with its friendly community, rich history, and outstanding economy.

Rental Market Trends

Springfield, IL

As of September 2026, Springfield's rental market is highly competitive, where rentals lease within days, often attracting multiple applications and above-asking offers. Springfield's average rent is 47.2% ($828) lower than the Illinois average of $1,755 and 48.7% ($881) lower than the U.S. average of $1,808.

Average Rent
$927
Monthly ChangeMonth Over Month Change
Decreased3.1% ($30)
Yearly ChangeYear Over Year Change
Decreased10.3% ($106)
Avg. Days on MarketAverage Days on Market
25
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $763 Decreased0.8% ($6) Decreased8.6% ($72)
2 Beds $958 Decreased2.9% ($29) Increased1.2% ($11)
3 Beds $1,523 Increased7.7% ($109) Increased12% ($163)
Nearby Cities Average Rent Avg. Rent vs. SpringfieldAverage Rent vs. Springfield Avg. Days on MarketAverage Days on Market
Chatham $1,356 Increased46.3% ($429) 26 days
Divernon $743 Decreased19.8% ($184) 26 days
Waverly $950 Increased2.5% ($23) 32 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Springfield Rental Market FAQs

Explore rental prices, market trends, and availability in Springfield, IL.

The average rent in Springfield, IL is $927 per month.
Homes in Springfield typically rent for between $600 and $1,980 per month, with an average of $927 per month.
In Springfield, the average rent for a 1-bedroom home is $763 per month, for a 2-bedroom home, $958 per month, and a 3-bedroom home is $1,523 per month.
The average rent in Springfield is 48.7% ($881) lower than the national average of $1,808 per month.
The average rent in Springfield has decreased by 3.1% ($30) in the last month and decreased by 10.3% ($106) over the past year.
The rental market in Springfield, IL, is currently highly competitive, where rentals lease within days, often attracting multiple applications and above-asking offers.
In Springfield, IL, the average rental stays on the market for approximately 25 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 78 rental properties available in Springfield, IL.
Based on the current averages, a household would need an annual income of $38,320 to comfortably afford a 2-bedroom home in Springfield.
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