Best Affordable Neighborhoods in Colorado Springs, CO
Some of the cheapest neighborhoods in Colorado Springs are Southborough, Lamplighter, and Deerfield Meadows. These neighborhoods offer some of the lowest rent prices in Colorado Springs, making them ideal for renters on a budget. As of December 23, 2025, the average rent in Colorado Springs is $1,287, which is 2.9% 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.
Southborough
Average Rent
$863/Month
Year-Over-Year Rent Change
16.2%
TransitScore® Rating
38/100
Units Available
18 Rentals
If you’re looking for a great, affordable neighborhood in Colorado Springs, Southborough might be the perfect place! It has an average rent price of $863, while the city’s average stands at $1,287. In the last year, prices have decreased by 16.2%. Southborough is near City of Colorado Springs Municipal, Southpark Village, and UC Colorado Springs.
Lamplighter
Average Rent
$863/Month
TransitScore® Rating
43/100
Units Available
18 Rentals
Lamplighter is a top choice for budget-conscious renters for a variety of reasons. The average rent in Lamplighter is $863 while the city average is $1,287. Residents enjoy convenient access to UC Colorado Springs, Clear Spring Ranch Park, and Ceresa Park. The neighborhood is considered somewhat walkable with a WalkScore® of 58.
Deerfield Meadows
Average Rent
$863/Month
Units Available
18 Rentals
When you’re looking for a great Colorado Springs neighborhood on a budget, check out Deerfield Meadows. The average rent is $863, compared to the city average of $1,287. Deerfield Meadows is convenient to Clear Spring Ranch Park, Fountain Creek Nature Center, and Ceresa Park.
Palmer Heights
Average Rent
$867/Month
TransitScore® Rating
35/100
Units Available
15 Rentals
Palmer Heights is an affordable neighborhood in Colorado Springs with an average rent price of $867. Compare this to the city average of $1,287. Palmer Heights provides easy access to Rustic Hills Showcase Plaza, Polo Center, and Bear Creek Regional Park. It’s a walkable neighborhood with a WalkScore® of 71.
Northglen
Average Rent
$872/Month
TransitScore® Rating
35/100
Units Available
12 Rentals
If you’re looking for a great, affordable neighborhood in Colorado Springs, Northglen might be the perfect place! It has an average rent price of $872, while the city’s average stands at $1,287. Northglen is near Monument Valley Park, Rock Ledge Ranch Historic Site, and City of Colorado Springs Municipal.
Cherry Hills
Average Rent
$890/Month
TransitScore® Rating
36/100
Units Available
28 Rentals
Cherry Hills is a top choice for budget-conscious renters for a variety of reasons. The average rent in Cherry Hills is $890 while the city average is $1,287. Residents enjoy convenient access to Pikes Peak C.C., Centennial, Bear Creek Nature Center, and Colorado College. The neighborhood is considered somewhat walkable with a WalkScore® of 58.
Knob Hill
Average Rent
$901/Month
Year-Over-Year Rent Change
5.8%
TransitScore® Rating
43/100
Units Available
117 Rentals
When you’re looking for a great Colorado Springs neighborhood on a budget, check out Knob Hill. The average rent is $901, compared to the city average of $1,287. Rent prices have decreased by 5.8%. Knob Hill is convenient to Pikes Peak C.C., Downtown, Colorado College, and UC Colorado Springs. The community is walkable with a WalkScore® of 74.
Audubon Gardens
Average Rent
$903/Month
TransitScore® Rating
28/100
Units Available
35 Rentals
Audubon Gardens is an affordable neighborhood in Colorado Springs with an average rent price of $903. Compare this to the city average of $1,287. Audubon Gardens provides easy access to UC Colorado Springs, North Slope Recreation Area, and Colorado College. It’s a somewhat walkable neighborhood with a WalkScore® of 56.
Valley Vista
Average Rent
$903/Month
Units Available
22 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 $903, while the city’s average stands at $1,287. Valley Vista is near Bear Creek Regional Park, Pikes Peak C.C., Downtown, and North Slope Recreation Area.
Meadow Ridge
Average Rent
$916/Month
Units Available
11 Rentals
Meadow Ridge is a top choice for budget-conscious renters for a variety of reasons. The average rent in Meadow Ridge is $916 while the city average is $1,287. Residents enjoy convenient access to Fillmore Center, City of Colorado Springs Municipal, and Pikes Peak C.C., Downtown.
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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.