Cheap Apartments for Rent in Colorado Springs, CO from $500 (389 Rentals)

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Search the lowest-cost Apartments available for rent right now in Colorado Springs.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Colorado Springs's Best Affordable Neighborhoods

Learn about Colorado Springs and the best places to live with original content written by our Local Expert Darla Ferrara

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Colorado Springs, CO Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Colorado Springs, CO

Pricing Updated: 06/19/2025

Current apartment rentals in the Colorado Springs, CO area range in price from $588 to $6,596 with an overall median price of $2,736. The three Colorado Springs neighborhoods with the lowest median rent pricing are Cragmoor at $675, Kissing Camels at $799, and Northeast Colorado Springs at $904. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Colorado Springs Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Cragmoor$1,650$675137
Kissing Camels$1,650$799195
Northeast Colorado Springs$1,650$904105
Holland Park$1,711$799167
Pinon Valley$1,731$814233
Shooks Run$2,050$84985
Garden Ranch$2,100$82595
Trailridge$2,159$1,10123
Wagon Trails$2,183$1,319138
Mountain Shadows$2,217$799128

Cheapest Available Colorado Springs Apartments for Rent

 

The cheapest available apartment rental in Colorado Springs, CO is a 2 Beds unit found at Bentley Commons in the Deerfield Hills neighborhood priced from $588. Panorama Heights in the Deerfield Hills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $633. Here is today’s list of the most affordable Colorado Springs apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Bentley CommonsOne Bedroom2BR,1BA$588
Panorama Heights1 Bedroom A1BR,1BA$633
11 West | Student HousingThree Bedroom3BR,3BA$699
411 South Santa Fe Avenue1 X 11BR,1BA$700
Pebble CreekS1Studio,1BA$749
Shooks Run1x1 40%1BR,1BA$768
Fairway Valley ApartmentsStudioStudio,1BA$775
Alta ApartmentsThe Alp - DesignerStudio,1BA$790
Traditions at Colorado SpringsStudioStudio,1BA$794
Come Home to Willow Ridge!1BR/1.0BA1BR,1BA$795

Best Value Apartments for Rent in Colorado Springs, CO

As of June 20, 2025 the best value apartment in the Colorado Springs area is the $0.84 price per square foot 1 Bed 1 Bath Model at Cascade Park in the in the Downtown neighborhood starting from $955. The second greatest value Colorado Springs apartment is the 2x2 Model at The Creek at Cottonwood Apartment Homes starting at $1,229 with a $1.10 price per square foot in the Stetson Run neighborhood. Here is today’s list of the best values for Colorado Springs apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Cascade Park1 Bed 1 Bath1BR,1BA$0.84
The Creek at Cottonwood Apartment Homes2x22BR,2BA$1.10
11 West | Student HousingTwo Bedroom2BR,2BA$0.78
Regal Estates1 Bed 1 Bath1BR,1BA$0.85
Union Blvd Apartments2 Beds, 1 Baths2BR,1BA$1.03
Rosewood Apartments2 Beds, 1 Baths2BR,1BA$1.00
Stone Canyon2BD, 1BTH2BR,1BA$1.15
Riverbend Apartments2 Beds, 1 Baths2BR,1BA$1.11
Shooks Run1x1 40%1BR,1BA$1.08
Homewood Point ApartmentsOne Bedroom1BR,1BA$1.01

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Colorado Springs Overview

There is a good reason US News, World Report, among others have rated Colorado Springs as one of the best places to live in the US. With an abundance of outdoor activities and booming city life, it is no wonder people want to call this place home. And the apartments in Colorado Springs reflect this great city’s beautiful scenery.

Why live in Colorado Springs, CO?

There are many reasons to want to live in Colorado Springs. First of all, the weather is beautiful and sunny for most of the year. If you enjoy getting outside, this is the place you want to be. You can live fairly close to major ski resorts without the high cost of living associated with them. And the skyline is beautiful with its view of the majestic Rockies. There are also some very practical reasons to love this city including low unemployment and lower than average commute time. In fact, US News recently ranked it as the #5 best place to live based on its quality of life and job market.

Colorado Springs, CO
Population: 472,688

Ranked #39

in US Census Population by City

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Pet Friendly Lifestyle
Colorado Springs, CO

Ranked #5

Among cities in Colorado for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Colorado Springs, CO Rentals by Map

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See the most popular apartments and homes in Colorado Springs, CO

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Getting Around Colorado Springs, CO

Walk Score®

51 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

50 / 100

Bikeable

Some bike infrastructure

Transit Score®

26 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Colorado Springs Apartments

What is a cheap apartment in Colorado Springs?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Colorado Springs is under $795.

What is the price of a cheap apartment in Colorado Springs?

The cheapest apartment in Colorado Springs is Panorama Heights which is listed at $633, while the average apartment in Colorado Springs costs $2,736.

What types of apartments are the cheapest in Colorado Springs?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 2,081 regular apartments in Colorado Springs that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Colorado Springs?

Cheap apartments in Colorado Springs have an average cost of $379 which is $2,357 cheaper than the average rent for all rentals in Colorado Springs.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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A Local Experts Guide To 10 Budget-Friendly Neighborhoods to Rent in Colorado Springs, CO

Written by: Darla Ferrara

Just the name Colorado Springs makes me think of home. I’m Darla, your ApartmentHomeLiving.com Local Expert for Colorado Springs, CO.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.