Most Affordable Neighborhoods in Colorado Springs, CO
Some of the cheapest neighborhoods in Colorado Springs are Knob Hill, Divine Redeemer, and Park Hill. These neighborhoods offer some of the lowest rent prices in Colorado Springs, making them ideal for renters on a budget. As of March 24, 2025, the average rent in Colorado Springs is $1,297, which is 3.7% lower than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Knob Hill
Average Rent
$987/Month
Year-Over-Year Rent Change
3.3%
TransitScore® Rating
43/100
Units Available
78 Rentals
When you’re looking for a great Colorado Springs neighborhood on a budget, check out Knob Hill. The average rent is $987, compared to the city average of $1,297. Rent prices have decreased by 3.3%. Knob Hill is convenient to Bear Creek Nature Center, Colorado Technical University, and Rustic Hills Showcase Plaza. The community is walkable with a WalkScore® of 74.
Divine Redeemer
Average Rent
$1,026/Month
Year-Over-Year Rent Change
1.9%
TransitScore® Rating
36/100
Units Available
93 Rentals
Divine Redeemer is an affordable neighborhood in Colorado Springs with an average rent price of $1,026. Compare this to the city average of $1,297. In the past year, rent prices have decreased by 1.9%. Divine Redeemer provides easy access to Colorado Technical University, Pikes Peak C.C., Downtown, and Golf Acres Shopping Center. It’s a somewhat walkable neighborhood with a WalkScore® of 67.
Park Hill
Average Rent
$1,053/Month
Year-Over-Year Rent Change
6.7%
TransitScore® Rating
41/100
Units Available
209 Rentals
Park Hill provides cheap apartments ideal for budget-conscious renters just miles from downtown Colorado Springs, Colorado. The area features several parks, shopping centers, and restaurants. This neighborhood is near major institutions, like the Air Force Academy and the University of Colorado at Colorado Springs, attracting a diverse group of renters.
Palmer Park
Average Rent
$1,087/Month
Year-Over-Year Rent Change
13.2%
TransitScore® Rating
32/100
Units Available
178 Rentals
Palmer Park in Colorado Springs, Colorado, is known for its 737-acre wildlife preserve, complete with hiking, biking, and walking trails for outdoor lovers. Local shopping centers and restaurants ensure daily needs are easily met.
SE Colorado Springs
Average Rent
$1,087/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
33/100
Units Available
142 Rentals
Welcome to SE Colorado Springs, a neighborhood whose sprawling mountains, suburban charm, and proximity to downtown Colorado Springs, Colorado, bring in renters from across the state. SE Colorado Springs offers easy access to Interstate 25 and Highway 24 for a simple commute throughout the city, as well as walkable streets for a community feel. Affordable living costs make it a top choice for renters seeking value.
Village Seven
Average Rent
$1,226/Month
Year-Over-Year Rent Change
8.3%
TransitScore® Rating
28/100
Units Available
158 Rentals
Village Seven offers cost-effective living in Colorado Springs, Colorado, right next to Pikes Peak and Devil's Head. The neighborhood is home to stunning views of the Rocky Mountains. Nearby commercial areas provide convenient shopping and dining experiences.
East Colorado Springs
Average Rent
$1,262/Month
Year-Over-Year Rent Change
4.5%
TransitScore® Rating
26/100
Units Available
965 Rentals
East Colorado Springs in Colorado Springs, CO is characterized by its walkability, residential atmosphere, and mountain views. This area has access to highly-rated schools, grocery stores, and shopping centers like the Citadel Mall. Public bus routes are readily accessible, making commuting hassle-free for residents.
Gateway Park
Average Rent
$1,339/Month
Year-Over-Year Rent Change
3.5%
TransitScore® Rating
29/100
Units Available
105 Rentals
Gateway Park stands out in Colorado Springs, Colorado, for its budget-friendly apartments and cost-effective living. The neighborhood includes several parks and recreational spots, perfect for active lifestyles. Nearby shopping and dining options add to the everyday convenience of the area.
South Colorado Springs
Average Rent
$1,398/Month
Year-Over-Year Rent Change
4.5%
TransitScore® Rating
22/100
Units Available
174 Rentals
South Colorado Springs in Colorado Springs, CO offers a range of affordable apartments for renters on a budget. This neighborhood features easy access to public transportation and beautiful parks. Local shopping centers and dining options provide a practical and enjoyable living experience.
Pulpit Rock
Average Rent
$1,451/Month
Year-Over-Year Rent Change
5.1%
TransitScore® Rating
30/100
Units Available
111 Rentals
Pulpit Rock in Colorado Springs, Colorado, is just north of Garden of the Gods, one of Colorado's most iconic natural landmarks. Aside from natural beauty, the neighborhood has shopping and dining establishments on North Academy Boulevard that make daily living effortless and enjoyable.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.