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 February 7, 2026, the average rent in Colorado Springs is $1,291, which is 2.5% 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
$830/Month
Year-Over-Year Rent Change
14.3%
TransitScore® Rating
38/100
Units Available
15 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 $830, while the city’s average stands at $1,291. In the last year, prices have decreased by 14.3%. Southborough is near City of Colorado Springs Municipal, Pikes Peak C.C., Downtown, and Mission Pointe Plaza.
Lamplighter
Average Rent
$830/Month
TransitScore® Rating
43/100
Units Available
15 Rentals
Lamplighter is a top choice for budget-conscious renters for a variety of reasons. The average rent in Lamplighter is $830 while the city average is $1,291. Residents enjoy convenient access to Southpointe Plaza, Cheyenne Mountain State Park, and Cheyenne Mountain Zoo. The neighborhood is considered somewhat walkable with a WalkScore® of 58.
Deerfield Meadows
Average Rent
$830/Month
Units Available
15 Rentals
When you’re looking for a great Colorado Springs neighborhood on a budget, check out Deerfield Meadows. The average rent is $830, compared to the city average of $1,291. Deerfield Meadows is convenient to Southpointe Plaza, Colorado College, and Cheyenne Mountain Zoo.
Knob Hill
Average Rent
$866/Month
Year-Over-Year Rent Change
6.1%
TransitScore® Rating
43/100
Units Available
106 Rentals
Knob Hill is an affordable neighborhood in Colorado Springs with an average rent price of $866. Compare this to the city average of $1,291. In the past year, rent prices have decreased by 6.1%. Knob Hill provides easy access to Colorado Technical University, Pikes Peak C.C., Downtown, and Monument Valley Park. It’s a walkable neighborhood with a WalkScore® of 74.
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 $1,291. Northglen is near Plaza 2300, Pikes Peak C.C., Downtown, and Rock Ledge Ranch Historic Site.
Audubon Gardens
Average Rent
$873/Month
TransitScore® Rating
28/100
Units Available
33 Rentals
Audubon Gardens is a top choice for budget-conscious renters for a variety of reasons. The average rent in Audubon Gardens is $873 while the city average is $1,291. Residents enjoy convenient access to North Circle Plaza, Colorado College, and Bear Creek Regional Park. The neighborhood is considered somewhat walkable with a WalkScore® of 56.
Palmer Heights
Average Rent
$874/Month
TransitScore® Rating
35/100
Units Available
13 Rentals
When you’re looking for a great Colorado Springs neighborhood on a budget, check out Palmer Heights. The average rent is $874, compared to the city average of $1,291. Palmer Heights is convenient to Rustic Hills Showcase Plaza, UC Colorado Springs, and Polo Center. The community is walkable with a WalkScore® of 71.
Valley Vista
Average Rent
$876/Month
Units Available
23 Rentals
Valley Vista is an affordable neighborhood in Colorado Springs with an average rent price of $876. Compare this to the city average of $1,291. Valley Vista provides easy access to Colorado College, North Circle Center, and Colorado Technical University.
Cherry Hills
Average Rent
$876/Month
TransitScore® Rating
36/100
Units Available
24 Rentals
If you’re looking for a great, affordable neighborhood in Colorado Springs, Cherry Hills might be the perfect place! It has an average rent price of $876, while the city’s average stands at $1,291. Cherry Hills is near Colorado College, Pikes Peak C.C., Downtown, and Bear Creek Nature Center.
Northridge
Average Rent
$913/Month
Units Available
44 Rentals
Northridge is a top choice for budget-conscious renters for a variety of reasons. The average rent in Northridge is $913 while the city average is $1,291. Residents enjoy convenient access to Garden Ranch Shoppette, Colorado Technical University, and Rock Ledge Ranch Historic Site.
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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.