Last updated
Average Rent in Springfield 62704 & Rent Trends
Rent prices and market trends across 2 apartment communities in Springfield 62704, Springfield IL. Updated daily.
Market Average
$1,317/mo
Lowest Available
$950/mo
cheapest unit on market
Communities
2
tracked daily
Units Listed
9
available now
Springfield 62704 vs Springfield IL Average
Springfield 62704 is more expensive the Springfield IL average by $225/mo (21%). The citywide average is $1,092/mo across all neighborhoods.
Is Rent Going Up or Down in Springfield 62704?
As of May 2026, the average rent in Springfield 62704 is $1,317 per month across 2 apartment communities and 9 available units.
The most affordable option is Capital City Property Management LLC starting at $950/mo. By unit type, a 1-bedroom averages $950/mo, a 2-bedroom averages $1,192/mo, a 3-bedroom averages $1,465/mo.
Prices range from $950 to $1,515 per month. The most common price point is the $1,400 range, where 4 units are currently listed.
Springfield 62704 Rent Price History
Collecting price history
Daily snapshots are being recorded. Trend charts will appear once we have enough data points.
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Springfield 62704
Rent Prices by Apartment in Springfield 62704
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Capital City Property Management LLC | $950/mo | $1,158/mo | 3 | 3.6 |
| Orchard Park | $1,050/mo | $1,396/mo | 6 | 4.4 |
Google Search Trends for Springfield 62704 Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Springfield 62704
What is the average rent in Springfield 62704?
Is rent going up or down in Springfield 62704?
What is the cheapest apartment in Springfield 62704?
How much is a 1-bedroom apartment in Springfield 62704?
How many apartments are available in Springfield 62704?
What salary do I need to live comfortably in Springfield 62704?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$53,000/year
30 percent rule -- using our average rent of $1,317/mo.
Comfortable income
$63,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($950/mo), you need to earn at least $38,000/year.
Median household income in Springfield 62704 is $65,537 , about 4% above the comfortable-living threshold.
Cost of living in Springfield 62704
Overall prices in Springfield 62704 runs below the national average by about 9% (BEA Regional Price Parity index 90.7, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Springfield 62704's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,317 |
| Utilities | $280 |
| Groceries | $503 |
| Transportation | $668 |
| Healthcare | $326 |
| Other goods and services | $522 |
| Estimated total | $3,616/mo |
Population
113,714
Median household income
$65,537
Census median rent
$945/mo
Rent as % of income
28.4%
Median age
40.7
Mean commute
18 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Explore Springfield 62704 Apartments
Browse all 2 communities with daily-updated pricing and availability.