Cheapest Neighborhoods in Colorado Springs, CO
Some of the cheapest neighborhoods in Colorado Springs are Valley Vista, Eastborough, and Knob Hill. These neighborhoods offer some of the lowest rent prices in Colorado Springs, making them ideal for renters on a budget. As of June 24, 2026, the average rent in Colorado Springs is $1,295, which is 1.9% 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.
Valley Vista
Average Rent
$769/Month
Units Available
16 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 $769, while the city’s average stands at $1,295. Valley Vista is near Monument Valley Park, Bear Creek Regional Park, and UC Colorado Springs.
Eastborough
Average Rent
$907/Month
Year-Over-Year Rent Change
5%
Units Available
68 Rentals
Eastborough is a top choice for budget-conscious renters for a variety of reasons. The average rent in Eastborough is $907 while the city average is $1,295. This is a 5% difference from last year. Residents enjoy convenient access to UC Colorado Springs, Colorado College, and Pikes Peak C.C., Centennial.
Knob Hill
Average Rent
$915/Month
Year-Over-Year Rent Change
3%
Units Available
59 Rentals
When you’re looking for a great Colorado Springs neighborhood on a budget, check out Knob Hill. The average rent is $915, compared to the city average of $1,295. Rent prices have decreased by 3%. Knob Hill is convenient to North Slope Recreation Area, Rustic Hills Showcase Plaza, and Colorado Technical University.
Spring Creek
Average Rent
$933/Month
Year-Over-Year Rent Change
3.9%
Units Available
66 Rentals
Spring Creek is an affordable neighborhood in Colorado Springs with an average rent price of $933. Compare this to the city average of $1,295. In the past year, rent prices have decreased by 3.9%. Spring Creek provides easy access to Pikes Peak C.C., Downtown, Monument Valley Park, and Palmer Park.
Divine Redeemer
Average Rent
$938/Month
Year-Over-Year Rent Change
3.7%
Units Available
71 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 $938, while the city’s average stands at $1,295. In the last year, prices have decreased by 3.7%. Divine Redeemer is near Pikes Peak C.C., Downtown, City of Colorado Springs Municipal, and North Slope Recreation Area.
Palmer Park
Average Rent
$956/Month
Year-Over-Year Rent Change
7.3%
Units Available
150 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.
Pleasant Valley
Average Rent
$967/Month
Year-Over-Year Rent Change
1.7%
Units Available
11 Rentals
Pleasant Valley is a top choice for budget-conscious renters for a variety of reasons. The average rent in Pleasant Valley is $967 while the city average is $1,295. This is a 1.7% difference from last year. Residents enjoy convenient access to North Slope Recreation Area, Uintah Gardens, and Garden of the Gods Park.
Park Hill
Average Rent
$1,015/Month
Year-Over-Year Rent Change
3%
Units Available
226 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.
Stratton Meadows
Average Rent
$1,015/Month
Year-Over-Year Rent Change
3.7%
Units Available
30 Rentals
When you’re looking for a great Colorado Springs neighborhood on a budget, check out Stratton Meadows. The average rent is $1,015, compared to the city average of $1,295. Rent prices have increased by 3.7%. Stratton Meadows is convenient to North Cheyenne Park, Creekwalk, and City of Colorado Springs Municipal.
Village Seven
Average Rent
$1,030/Month
Year-Over-Year Rent Change
6.4%
Units Available
136 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.
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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.