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 21, 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

If you’re looking for a great, affordable neighborhood in Colorado Springs, Knob Hill might be the perfect place! It has an average rent price of $987, while the city’s average stands at $1,297. In the last year, prices have decreased by 3.3%. Knob Hill is near Rustic Hills Showcase Plaza, Colorado Technical University, and Monument Valley Park.

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 a top choice for budget-conscious renters for a variety of reasons. The average rent in Divine Redeemer is $1,026 while the city average is $1,297. This is a -1.9% difference from last year. Residents enjoy convenient access to Bear Creek Nature Center, Bear Creek Regional Park, and Colorado College. The neighborhood is considered somewhat walkable 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.