Springfield, IL Average Rent & Rental Yield
Compare average asking rent (median), gross rental yield, home value, and transaction activity before moving into listing-level underwriting or investor discovery.
Average rent in Springfield, IL
The median asking rent in Springfield, IL is $1,450 as of July 2026, based on active rental listings across the metro. We report the median — the midpoint of asking rents — because it tracks the typical listing more reliably than a simple average, which luxury and outlier listings can skew.
Against an average home value of $127,043, that rent level prices Springfield, IL at a 13.48% gross rental yield — compared with 10.24% across Illinois.
Metro vs state rental signal
The metro read is a first-pass screen. Compare it with the state baseline, then pressure-test taxes, insurance, vacancy, rehab, and financing assumptions at the property level.
Nearby metro yield comparison
Compare this metro with other Illinois markets and jump directly into Rental Insights or a public metro report when a yield page is available.
Springfield, IL rent and yield FAQ
Quick answers based on the latest Springfield, IL rental listing and transaction data.
What is the average rent in Springfield, IL?
As of July 2026, the median asking rent in Springfield, IL is $1,450. SFR Analytics reports the median of active rental listings rather than a simple average so outlier luxury listings do not distort the figure.
What is a good rental yield in Springfield, IL?
Springfield, IL currently prices at a 13.48% gross rental yield, versus 10.24% across Illinois. Treat gross yield as a first-pass screen — it excludes taxes, insurance, vacancy, rehab, and financing, so underwrite at the property level before acting on it.
Move from Springfield, IL market context to property-level screening
Open Rental Insights with Springfield, IL selected, then pair the yield signal with investor activity and rental data workflows.