Most Affordable Neighborhoods in Denver, CO
Some of the cheapest neighborhoods in Denver are Virginia Village, Creekside Park, and Hampden. These neighborhoods offer some of the lowest rent prices in Denver, making them ideal for renters on a budget. As of April 27, 2025, the average rent in Denver is $1,664, which is 4.4% 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.
Virginia Village
Average Rent
$1,555/Month
Year-Over-Year Rent Change
2.2%
TransitScore® Rating
44/100
Units Available
458 Rentals
Virginia Village, situated just southeast of downtown Denver, is known for its quaint residential feel and tree-lined streets. The neighborhood features several charming parks and recreational facilities. Affordable living options make it an excellent choice for renters seeking value without sacrificing comfort.
Creekside Park
Average Rent
$1,555/Month
Year-Over-Year Rent Change
4.9%
TransitScore® Rating
6/100
Units Available
317 Rentals
When you’re looking for a great Denver neighborhood on a budget, check out Creekside Park. The average rent is $1,555, compared to the city average of $1,664. Rent prices have decreased by 4.9%. Creekside Park is convenient to Colorado, Washington Park, and Denver Botanic Gardens at York St.. The community is walkable with a WalkScore® of 84.
Hampden
Average Rent
$1,651/Month
Year-Over-Year Rent Change
7%
TransitScore® Rating
48/100
Units Available
390 Rentals
Denver residents love the parks and trials in Hampden, a neighborhood situated in the southwest corner of Denver, Colorado. Hampden is also close to dining and shopping options, making it a great choice for renters who want proximity to the outdoor opportunities in Denver without sacrificing convenience.
Cherry Creek South
Average Rent
$1,697/Month
Year-Over-Year Rent Change
6.1%
TransitScore® Rating
13/100
Units Available
595 Rentals
Located in the heart of Denver, Cherry Creek South boasts upscale shopping destinations and exquisite dining options. Its picturesque parks and well-maintained trails make it perfect for outdoor enthusiasts. This area provides an appealing balance between convenience and tranquility.
Glendale University Area
Average Rent
$1,779/Month
Year-Over-Year Rent Change
6.1%
TransitScore® Rating
45/100
Units Available
1,893 Rentals
Adjacent to the bustling Glendale district, the University Area is a lively neighborhood close to thriving commercial zones and educational institutions like the University of Denver. The community benefits from extensive green spaces and recreational facilities. Affordable rent and convenient amenities attract a diverse group of residents.
East Denver
Average Rent
$1,829/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
41/100
Units Available
2,333 Rentals
East Denver is an affordable neighborhood in Denver with an average rent price of $1,829. Compare this to the city average of $1,664. In the past year, rent prices have decreased by 3%. East Denver provides easy access to 2Nd & Abilene Station, Rocky Mountain Arsenal National Wildlife Refuge, and Colfax Station. It’s a somewhat walkable neighborhood with a WalkScore® of 52.
Southwest Denver
Average Rent
$1,829/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
24/100
Units Available
875 Rentals
Southwest Denver presents a peaceful suburban setting with diverse housing options. The area features proximity to green spaces like Bear Creek Park, recreational centers, and convenient shopping outlets. Its affordability and welcoming atmosphere make it a preferred choice for many renters.
Capitol Hill
Average Rent
$1,881/Month
Year-Over-Year Rent Change
2.4%
TransitScore® Rating
61/100
Units Available
693 Rentals
Capitol Hill in Denver is renowned for its historic architecture and cultural landmarks. The neighborhood brims with eclectic shops, cafes, and entertainment venues. Its central location ensures that everything you need is within easy reach.
West Colfax
Average Rent
$2,012/Month
Year-Over-Year Rent Change
4.5%
TransitScore® Rating
56/100
Units Available
312 Rentals
If you’re looking for a great, affordable neighborhood in Denver, West Colfax might be the perfect place! It has an average rent price of $2,012, while the city’s average stands at $1,664. In the last year, prices have decreased by 4.5%. West Colfax is near Centennial Gardens, Sloan's Lakefront Market, and Regis University.
Five Points
Average Rent
$2,035/Month
Year-Over-Year Rent Change
4.9%
TransitScore® Rating
74/100
Units Available
561 Rentals
Five Points is a top choice for budget-conscious renters for a variety of reasons. The average rent in Five Points is $2,035 while the city average is $1,664. This is a -4.9% difference from last year. Residents enjoy convenient access to Civic Center Park, University of Colorado Denver, and Park Avenue Square. The neighborhood is considered walkable with a WalkScore® of 96.
Ready to make your move to Denver? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
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.