2 Days Ago
Highlights
- Hardwood floors
- Original exposed brick
Location
507 W College St, Springfield, MO 65806, USA|Downtown Springfield
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Property Overview
The Palace Hotel Lofts, LLC showcases notable features such as hardwood floors and original exposed brick, enhancing its character and appeal. With a Zumper expert rating placing it in the 77.42 percentile for value per square foot compared to local properties, it highlights strong market standing. This unique property is great for those seeking a blend of historical charm and modern living.
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.
Things you’ll love
More space
Great for
Social life
Eco living
Floor plans
| 1BR/1.0BA | 1 bed | 1 bath | 850 sqft | $920 /mo | 1 unit available | The 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 |
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Amenities for Palace Hotel Lofts, LLC
Apartment Amenities
| Dryer | Trash |
| Water |
Appliances
| Dishwasher | In-Unit Laundry |
| Range | Refrigerator |
| Stove |
Building
| 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
Building details
Property details
| Units | 15 |
|---|
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About Palace Hotel Lofts, LLC
The 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
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.
8.3
/10
Very GoodWith a solid 8.3 out of 10 overall, Palace Hotel Lofts, LLC is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Palace Hotel Lofts, LLC has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
Price·9A 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, LLC stands out with a remarkable rating of 9/10 for its cost per bedroom compared to other rentals in the area. Considering the excellent balance between price, convenience, and comfort that it provides, residents enjoy a high-quality living experience.
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, LLC goes above and beyond to provide sought-after conveniences and desirable perks, including sewer. Renters looking for popular or luxurious features will find them here—and for that reason, Palace Hotel Lofts, LLC 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, LLC 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, LLC 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, LLC is great for:
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, LLC compares to other nearby properties.
Positives
- More space
- The 1-bedroom is 335 sqft larger than other listings nearby
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
- Lacks images
- Fewer than 10 photos available for this location
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Rent trends in Downtown Springfield
1-bedroom apartments at Palace Hotel Lofts, LLC cost about 2% less than the average rent price for 1-bedroom apartments in Downtown Springfield.
Median rents as of Nov 1 2025.
Downtown Springfield
Springfield
| Month | Median Rent |
|---|---|
| November 2023 | $665 |
| December 2023 | $690 |
| January 2024 | $695 |
| 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 | $870 |
| Month | Median 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 |
Affordability calculator
Can I afford to live at 507 W College St?
Bedrooms
1 bedroomRent-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
$36,800/yr
With your selected rent-to-income ratio, you'd ideally want to make $36,800 annually to afford this 1-bedroom monthly rent price of $920.
For more information on rent affordability, visit our rent calculator.
Schools near Palace Hotel Lofts, LLC
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, LLC
Getting around Springfield near 507 W College St
Walking
6/10
Some shops and stores are within a few minutes.
Driving
6/10
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
5/10
Frequent public transit options are within walking distance.
Points of interest for 507 W College St, Springfield
Groceries
4/10
At least one grocery store within a 30-minute walk
Shopping
4/10
Some shops within walking distance
Cafes
6/10
Some cafés within walking distance
Restaurants
6/10
Variety of restaurants within walking distance
Primary schools
9/10
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
Moderate amount of park space nearby
Nightlife
5/10
Some bars within walking distance
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