Cheapest Neighborhoods in Colorado Springs, CO
Some of the cheapest neighborhoods in Colorado Springs are Chelton Heights, Valley Vista, and Crestmoor Park. These neighborhoods offer some of the lowest rent prices in Colorado Springs, making them ideal for renters on a budget. As of August 11, 2026, the average rent in Colorado Springs is $1,307, which is 1% higher 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.
Chelton Heights
Average Rent
$723/Month
Units Available
12 Rentals
Chelton Heights is an affordable neighborhood in Colorado Springs with an average rent price of $723. Compare this to the city average of $1,307. Chelton Heights provides easy access to North Slope Recreation Area, Pikes Peak C.C., Downtown, and Venetian Village.
Valley Vista
Average Rent
$775/Month
Units Available
15 Rentals
If you’re looking for a great, affordable neighborhood in Colorado Springs, Valley Vista might be the perfect place! It has an average rent price of $775, while the city’s average stands at $1,307. Valley Vista is near Colorado Technical University, City of Colorado Springs Municipal, and UC Colorado Springs.
Crestmoor Park
Average Rent
$807/Month
Units Available
11 Rentals
Crestmoor Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Crestmoor Park is $807 while the city average is $1,307. Residents enjoy convenient access to Palmer Park, Monument Valley Park, and Garden of the Gods Park.
Cherry Hills
Average Rent
$883/Month
Units Available
33 Rentals
When you’re looking for a great Colorado Springs neighborhood on a budget, check out Cherry Hills. The average rent is $883, compared to the city average of $1,307. Cherry Hills is convenient to Fountain Square, Colorado College, and Pikes Peak C.C., Centennial.
Knob Hill
Average Rent
$915/Month
Year-Over-Year Rent Change
0.6%
Units Available
80 Rentals
Knob Hill is an affordable neighborhood in Colorado Springs with an average rent price of $915. Compare this to the city average of $1,307. In the past year, rent prices have decreased by 0.6%. Knob Hill provides easy access to Pikes Peak C.C., Downtown, Palmer Park, and Bear Creek Regional Park.
Divine Redeemer
Average Rent
$927/Month
Year-Over-Year Rent Change
0.8%
Units Available
62 Rentals
If you’re looking for a great, affordable neighborhood in Colorado Springs, Divine Redeemer might be the perfect place! It has an average rent price of $927, while the city’s average stands at $1,307. In the last year, prices have decreased by 0.8%. Divine Redeemer is near City of Colorado Springs Municipal, Rock Ledge Ranch Historic Site, and 1830 Palmer Park Blvd.
Spring Creek
Average Rent
$930/Month
Year-Over-Year Rent Change
2.9%
Units Available
62 Rentals
Spring Creek is a top choice for budget-conscious renters for a variety of reasons. The average rent in Spring Creek is $930 while the city average is $1,307. This is a -2.9% difference from last year. Residents enjoy convenient access to Pikes Peak C.C., Downtown, Colorado College, and 1125 S Chelton Rd.
Audubon Gardens
Average Rent
$945/Month
Units Available
12 Rentals
When you’re looking for a great Colorado Springs neighborhood on a budget, check out Audubon Gardens. The average rent is $945, compared to the city average of $1,307. Audubon Gardens is convenient to Colorado College, Perry Plaza, and Pikes Peak C.C., Downtown.
Southborough
Average Rent
$946/Month
Year-Over-Year Rent Change
3.9%
Units Available
17 Rentals
Southborough is an affordable neighborhood in Colorado Springs with an average rent price of $946. Compare this to the city average of $1,307. In the past year, rent prices have increased by 3.9%. Southborough provides easy access to Mission Pointe Plaza, Fountain Creek Regional Park, and UC Colorado Springs.
Palmer Park
Average Rent
$961/Month
Year-Over-Year Rent Change
7.1%
Units Available
115 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.
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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.