Zumper
modified
13 Hours Ago

Highlights

  • Pet Friendly
  • Hardwood floors
  • Large windows
  • Hardwood and tile floors
  • High ceilings
  • Original exposed brick
  • Historic downtown

Location

507 W College St, Springfield, MO 65806, USA|Downtown Springfield
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Contact

Management

Union Biscuit Warehouse, LLC

Leasing office

(417) 831-2676

Property Overview

Palace Hotel Lofts presents a strong overall rating of 8.6, emphasizing its competitive pricing, high-quality amenities, and excellent location. With notable features such as hardwood floors and large windows in a historic downtown setting, it ranks in the top percentiles for value and space. The property also enjoys great accessibility to cultural venues, dining, outdoor recreation, and pet-friendly options, enhancing the living experience for residents.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.6
Very Good
With a solid 8.6 out of 10 overall, Palace Hotel Lofts is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Palace Hotel Lofts has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • More space
  • Less expensive
  • Dishwasher

Great for

  • Social life
  • Pet owners

Floor plans

1BR/1.0BA1 bed1 bath550+ sqft$900–$975 /mo2 units availableThe Palace Hotel was built in 1892 and is a part of the National Register of Historic Places, giving these lofts a special place in the heart of downtown. This massive loft features the original exposed brick and hardwood floors. Be a part of Springfield’s past and future in the Palace Hotel Lofts. Garage space is available. Water, Sewer, Trash included in monthly rent
2BR/1.0BA2 bed1 bath1,100 sqft$1,125–$1,240 /mo2 units availableThe Palace Hotel was built in 1892 and is a part of the National Register of Historic Places, giving these lofts a special place in the heart of downtown. This large loft features the original exposed brick and hardwood floors. Be a part of Springfield’s past and future in the Palace Hotel Lofts. Garage space is available.
4BR/2.0BA4 bed2 bath2,200 sqft$2,000 /mo1 unit availableTake a tour of the gorgeous downtown lofts at Palace Hotel. The lofts feature the original exposed brick and hardwood floors with a large square footage. Be a part of Springfield’s past and future in the Palace Hotel Lofts.

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Amenities for Palace Hotel Lofts

Apartment Amenities

DryerTrash
Water

Appliances

DishwasherIn-Unit Laundry
RangeRefrigerator
Stove

Building

Cats OKDogs OK
Sewer
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property

Dog Policy

Allowed
Limit1

Cat Policy

Allowed
Limit1

Questions about this property’s policies and fees?

Building details

Property details

Units15
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About Palace Hotel Lofts

HomeApartments in SpringfieldDowntown Springfield Palace Hotel Lofts

The historic Palace Hotel Lofts are located just off the square in downtown Springfield. They offer unique spaces, with high ceilings, hardwood and tile floors, and large windows. An easy walk to all the entertainment and dining that downtown as to offer, including the newly reopened College Station Movie theater just across the street.


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.6
/10
Very Good
With a solid 8.6 out of 10 overall, Palace Hotel Lofts is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Palace Hotel Lofts has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated Palace Hotel Lofts
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Palace Hotel Lofts offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·9A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
Palace Hotel Lofts goes above and beyond to provide sought-after conveniences and desirable perks, including pets allowed. Renters looking for popular or luxurious features will find them here—and for that reason, Palace Hotel Lofts receives one of the highest amenities scores.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Palace Hotel Lofts is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Palace Hotel Lofts does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.

Palace Hotel Lofts is great for:

Social life

  • 103 restaurants within 1 mile of this property
  • 33 theaters, music venues, or sports arenas nearby
  • 72 museums, art galleries, or cultural centers within 1 mile
  • Area has 19 parks and recreation options

Pet owners

  • 3 pet supply stores near the property
  • 1 pet grooming service nearby

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How Palace Hotel Lofts compares to other nearby properties.

Positives

More space
The 4-bedroom is 588 sqft larger than other listings nearby
More space
The 1-bedroom is 470 sqft larger than other listings nearby
Less expensive
The 4-bedrooms are cheaper than other similar listings nearby
Dishwasher
Dishwasher available in kitchen
Images Available
There are at least 10 photos of this address

Considerations

Greater distance from high schools
The nearest high school is farther than 1 mile away
Greater distance from middle schools
The nearest middle school is farther than 1 mile away

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Rent trends in Downtown Springfield

1-bedroom apartments here are priced 9% lower than 1-bedrooms in Downtown Springfield.

If you decide to upgrade your space, you can expect 2-bedrooms at Palace Hotel Lofts to be 1% less than the average for similarly sized apartments in Downtown Springfield.

4-bedroom apartments at Palace Hotel Lofts cost about 6% less than the average rent price for 4-bedroom apartments in Downtown Springfield.

Median rents as of Jan 31 2026.
Downtown Springfield
Springfield
A table of studio rental data trends in Springfield
MonthMedian Rent
February 2024$690
March 2024$779
April 2024$800
May 2024$840
June 2024$863
July 2024$862
August 2024$826
September 2024$836
October 2024$841
November 2024$835
December 2024$858
January 2025$862
February 2025$851
March 2025$821
April 2025$839
May 2025$817
June 2025$818
July 2025$805
August 2025$807
September 2025$814
October 2025$850
November 2025$848
December 2025$856
January 2026$879
A table of studio rental data trends in Downtown Springfield
MonthMedian Rent
March 2024$905
April 2024$905
May 2024$905
March 2025$750
April 2025$1,355
May 2025$1,207
June 2025$1,118
December 2025$831
January 2026$813

Affordability calculator

Can I afford to live at 507 W College St?

Bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$36,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $36,000 annually to afford this 1-bedroom monthly rent price of $900.
For more information on rent affordability, visit our rent calculator.

Schools near Palace Hotel Lofts

Campbell Elementary School

506 s grant

springfield, MO, 65806

PKPublic

Shady Dell Early Childhood Center

2757 e division

springfield, MO, 65803

PKPublic
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Internet available near Palace Hotel Lofts

Neighborhood

Downtown Springfield | Springfield, MO

NEIGHBORHOOD VIBE
Peaceful and quiet
Noise-canceling headphones not required in this mostly noise free area.

Getting around Springfield near 507 W College St

Walking

7/10
Grab your reusable bags–many shops and stores are within walking distance.

Driving

5/10
This area is accessible to thoroughfares and has ample parking options.

Cycling

8/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.

Transit

4/10
Frequent public transit options are within walking distance.

Points of interest for 507 W College St, Springfield

Groceries

6/10
At least one supermarket within a 20-minute walk

Shopping

4/10
Some shops within walking distance

Cafes

6/10
Some cafés within a few minutes’ walk

Restaurants

7/10
Variety of restaurants within a few minutes' walk

Primary schools

10/10
At least one elementary school within a 5-minute walk

High schools

10/10
At least one high school within a 5-minute walk

Parks

6/10
Large amount of park space nearby

Nightlife

5/10
Some bars within a few minutes’ walk

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By sending this inquiry, I accept Zumper's Terms and Conditions, Privacy Policy, and Community Values. By providing my phone number, I consent (not a condition of purchase) to be called and texted by Palace Hotel Lofts.