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Apartments under $500 for Rent in Colorado Springs, CO

1 Rentals
.
  1. Building Photo - 1238 Wood Ave
    STUDIO, 1 BATH
    $400
    Total Monthly Price Total Monthly Price New
    Base Rent$400
    Required Monthly FeesNone
    Total Monthly Price$400

    1238 Wood Ave Unit #3

    1238 Wood Ave, Colorado Springs, CO 80903

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Colorado Springs at a Glance

Average Rent

$1,291
(All bedrooms and property types)
Learn more about
Average Rent in Colorado Springs
8

School Rating

out of 10 Rating
Learn more about
Schools in Colorado Springs
26

Some Transit

out of 100 TransitScore® Rating
Learn more about
Transportation in Colorado Springs
50

Somewhat Bikeable

out of 100 BikeScore® Rating
Learn more about
Transportation in Colorado Springs

Colorado Springs, CO Apartments for Rent

Located at the base of spectacular Pikes Peak and proudly known as "Olympic City USA," Colorado Springs rises more than 6,000 feet above sea level in the heart of the Southern Rocky Mountains. If you're searching for apartments for rent in Colorado Springs, you'll discover diverse apartment communities throughout neighborhoods ranging from the historic charm of Old Colorado City to developments in Northgate and the upscale Broadmoor area.

Colorado Springs attracts renters with its perfect mix of outdoor adventure and city convenience, offering easy access to the famous Garden of the Gods park and countless hiking trails along the Pikes Peak Greenway. Downtown features a growing collection of restaurants, cafes, and cultural attractions housed in beautifully preserved historic buildings, while I-25 provides convenient commutes to Denver in about an hour. With strong job opportunities connected to military installations like Fort Carson and the defense industry, plus the United States Olympic & Paralympic Training Center, Colorado Springs draws relocating professionals and students looking for affordable living options. You'll find average rents ranging from around $1,051 for studios to $1,565 for two-bedroom apartment communities.

Why Colorado Springs?

  • Colorado Springs is ranked among the best places to live in the country by US News and World Report
  • Colorado Springs is home to some of the state’s most popular natural attractions and parks including Garden of the Gods, Pikes Peak, the Broadmoor Seven Falls, and the Manitou Cliff Dwellings
  • The U.S. Olympic & Paralympic Training Center is located in Colorado Springs
  • Colorado Springs is one of the state’s more affordable cities to live in
  • The Air Force Academy and the University of Colorado at Colorado Springs are located here, providing excellent educational opportunities

Renting in Colorado Springs

Average Rental Rates and Apartment Sizes

Top Budget-Friendly Neighborhoods in Colorado Springs

(For 1 bedroom apartments)

Getting Around Colorado Springs

Transportation

51

Somewhat Walkable

out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you need a car.
50

Bikeable

out of 100 BikeScore® Rating
You might be able to find places to ride your bike in this area, but you'll most likely want your car for most errands.
26

Some Transit

out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Scores provided by Walk Scoreⓘ

Education

GreatSchools Rating
Pine Creek High School

Public High School

Public
Grades 9-12
1,815 Students
GreatSchools Rating
Liberty High School

Public High School

Public
Grades 9-12
1,647 Students
GreatSchools Rating
Cheyenne Mountain High School

Public High School

Public
Grades 9-12
1,241 Students
GreatSchools Rating
Rampart High School

Public High School

Public
Grades 9-12
1,454 Students
GreatSchools Rating
Challenger Middle School

Public Middle School

Public
Grades 6-8
612 Students
GreatSchools Rating
Eagleview Middle School

Public Middle School

Public
Grades 6-8
948 Students
GreatSchools Rating
Skyview Middle School

Public Middle School

Public
Grades 6-8
919 Students
GreatSchools Rating
Discovery Canyon Campus Middle School

Public Middle School

Public
Grades 6-8
803 Students
GreatSchools Rating
Foothills Elementary School

Public Elementary School

Public
Grades K-5
424 Students
GreatSchools Rating
Pioneer Elementary School

Public Elementary School

Public
Grades K-5
348 Students

Data provided by GreatSchools.org 2025 © 2025. All rights reserved.

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