Cheap Apartments for Rent in Colorado Springs, CO from $500 (378 Rentals)

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

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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property at 225 E Brookside St

$795 - $1,095

1 To 2 Bedroom Rentals

Available Now

225 E Brookside St

Colorado SpringsCO80905

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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Fairway Valley Apartments
$900 - $1,250
Total Monthly Price

Total Monthly Price

Base Rent
$900 - $1,250
Total Monthly Price
$900 - $1,250
Studio to 2 Bedroom Apartments Available Now

Fairway Valley Apartments

3603 Airport RdColorado Springs, CO 80910
Pet Friendly
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  • Utilities Included

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

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Colorado Springs, CO Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Colorado Springs, CO

Pricing Updated: 02/07/2026

Current apartment rentals in the Colorado Springs, CO area range in price from $588 to $6,140 with an overall median price of $2,295. The three Colorado Springs neighborhoods with the lowest median rent pricing are Shooks Run at $995, Fountain Valley at $1,036, and Patty Jewett at $995. 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
Shooks Run$995$9951
Fountain Valley$1,036$1,0361
Patty Jewett$1,124$9957
Divine Redeemer$1,199$77344
Pulpit Rock$1,543$922179
Garden Ranch$1,580$91869
Northeast Colorado Springs$1,580$91864
Spring Creek$1,600$75040
Oak Valley Ranch$1,624$1,6002
Peregrine$1,624$1,6002

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 Southborough neighborhood priced from $588. Park at Penrose Apartments in the Village Seven neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $747. Here is today’s list of the most affordable Colorado Springs apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Bentley CommonsOne Bedroom2BR,1BA$588
Park at Penrose Apartments1x11BR,1BA$747
Southgate Commons0BR/1.0BAStudio,1BA$749
Summit Creek ApartmentsStudio ApartmentStudio,1BA$750
11 West | Student HousingThree Bedroom3BR,3BA$750
Ascent Apartments1 Bedroom1BR,1BA$756
Shooks Run1x1 40%1BR,1BA$768
Airlan ArmsStudioStudio,1BA$773
Kalo Rustic HillsKaloSolo1BR,1BA$775
Incline ApartmentsStudioStudio,1BA$789

Best Value Apartments for Rent in Colorado Springs, CO

As of February 07, 2026 the best value apartment in the Colorado Springs area is the $1.07 price per square foot $700 off Move In Total - Waived Application Fee... Model at The Townhouse Apartments in the in the Spring Creek neighborhood starting from $1,500. The second greatest value Colorado Springs apartment is the 2BR/2.0BA Model at Welcome to Lazy Days Mobile Home Village! starting at $1,450 with a $1.04 price per square foot . 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.
The Townhouse Apartments$700 off Move In Total - Waived Application Fee...2BR,1.5BA$1.07
Welcome to Lazy Days Mobile Home Village!2BR/2.0BA2BR,2BA$1.04
1112 N Wahsatch Ave, Unit B1112 N Wahsatch Ave2BR,1BA$0.81
The Creek at Cottonwood Apartment Homes2x22BR,2BA$1.10
11 West | Student HousingTwo Bedroom2BR,2BA$0.83
Regal Estates1 Bed 1 Bath1BR,1BA$0.96
The Lofts at Rock Vue2/1.5 Loft2BR,1.5BA$1.13
Union Blvd Apartments2 Beds, 1 Baths2BR,1BA$1.03
Rosewood Apartments2 Beds, 1 Baths2BR,1BA$0.94
Shooks Run1x1 40%1BR,1BA$1.08

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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.

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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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 $789.

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

The cheapest apartment in Colorado Springs is Park at Penrose Apartments which is listed at $747, while the average apartment in Colorado Springs costs $2,295.

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 2,775 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 $504 which is $1,791 cheaper than the average rent for all rentals in Colorado Springs.

Expert Rental Resources

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.

Articles, How-To's, and Tips

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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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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.