Cheap Apartments for Rent in the Downtown Colorado Springs Neighborhood of Colorado Springs, CO from $500 (66 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Colorado Springs area of 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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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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VIM
Rent Specials
$1,215 - $2,782Studio to 2 Bedroom Apartments Available Now

VIM

322 E Vermijo AveColorado Springs, CO 80903
Pet Friendly
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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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The Bonfoy Apartments
Studio to 2 Bedroom Apartments

The Bonfoy Apartments

112 Bonfoy AveColorado Springs, CO 80909
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Meadows Pointe Apartments
Studio to 2 Bedroom Apartments

Meadows Pointe Apartments

233 E Arvada StColorado Springs, CO 80905
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1505 E Kiowa St
Studio to 2 Bedroom Apartments

1505 E Kiowa St

1505-1511 E Kiowa StColorado Springs, CO 80909
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618 N Weber St
Studio to 1 Bedroom Apartments

618 N Weber St

618 N Weber StColorado Springs, CO 80903
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Shooks Run
1 to 3 Bedroom Apartments

Shooks Run

842 S Royer StColorado Springs, CO 80903

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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Applewood Apartments
Studio to 1 Bedroom Apartments

Applewood Apartments

505 E Arvada StColorado Springs, CO 80905
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Parkmoor Apartments
1 to 3 Bedroom Apartments

Parkmoor Apartments

1117-1125 E Saint Vrain StColorado Springs, CO 80903
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Cascade Park
Studio to 3 Bedroom Apartments

Cascade Park

624 N Cascade AveColorado Springs, CO 80903
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Ivywild Flats
1 to 2 Bedroom Apartments

Ivywild Flats

316 E BrooksideColorado Springs, CO 80905
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Brookside Apartments
Studio to 2 Bedroom Apartments

Brookside Apartments

418-432 E Brookside StColorado Springs, CO 80905
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1602 S Wahsatch Ave
1 to 2 Bedroom Apartments

1602 S Wahsatch Ave

1602 S Wahsatch AveColorado Springs, CO 80905
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608 N Nevada Ave
Studio to 3 Bedroom Apartments

608 N Nevada Ave

608 N Nevada AveColorado Springs, CO 80903
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616 N Weber St
1 to 3 Bedroom Apartments

616 N Weber St

616 N Weber StColorado Springs, CO 80903

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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Downtown Colorado Springs, Colorado Springs, CO Local Guide

Cheapest Available Downtown Colorado Springs Apartments for Rent

 

The cheapest available apartment rental in the Downtown Colorado Springs area of Colorado Springs, CO is a 1 Bed unit found at Shooks Run priced from $768. Sienna Place has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here are the most affordable Downtown Colorado Springs apartments for rent in Colorado Springs, CO:

Apartment ListingModel NameBed/BathPriced From
Shooks Run1x1 40%1BR,1BA$768
Sienna Place1X11BR,1BA$799
Applewood Apartments1BR/1.0BA1BR,1BA$848
Rosewood Apartments2 Beds, 1 Baths2BR,1BA$849
Summit View Apartments1 Beds, 1 Baths1BR,1BA$850
The Village at Homewood Point1x1 50%1BR,1BA$899
306 N Cascade AveApartment 121BR,1BA$925
Union Blvd Apartments2 Beds, 1 Baths2BR,1BA$929
Cascade ParkStudioStudio,1BA$945
Prospect Park1x11BR,1BA$995

Best Value Apartments for Rent in Downtown Colorado Springs, CO

As of October 17, 2025 the best value apartment in the Downtown Colorado Springs area is the $1.03 price per square foot 2 Beds, 1 Baths Model at Union Blvd Apartments in the in the Memorial Park neighborhood starting from $929. The second greatest value Downtown Colorado Springs apartment is the 2 Beds, 1 Baths Model at Rosewood Apartments starting at $849 with a $0.94 price per square foot in the Memorial Park neighborhood. Here is today’s list of the best values for Downtown Colorado Springs apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Union Blvd Apartments2 Beds, 1 Baths2BR,1BA$1.03
Rosewood Apartments2 Beds, 1 Baths2BR,1BA$0.94
Kalo IvywildKaloDuo2BR,1BA$1.54
Park BonfoyA21BR,1BA$1.54
Jasmine Springs2 Bedroom, 1 Bath2BR,1BA$1.53
The Village at Homewood Point2x1 50%2BR,1BA$1.57
Sienna Place2X12BR,1BA$1.30
Shooks Run1x1 40%1BR,1BA$1.08
Prospect Park1x11BR,1BA$1.58
Summit View Apartments1 Beds, 1 Baths1BR,1BA$1.55

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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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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Pet Friendly Lifestyle
Downtown Colorado Springs, Colorado Springs, CO

Ranked #9

Among cities in Colorado for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, including Colorado Springs. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, kid and pet-friendly communities, availability of transit options, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Getting Around the Downtown Colorado Springs Neighborhood in Colorado Springs, CO

Walk Score®

75 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

79 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

53 / 100

Good Transit

Many 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 Downtown Colorado Springs Apartments

What is the Cheapest Studio apartment in Downtown Colorado Springs?

Currently the most affordable Cheap Studio Apartment in Downtown Colorado Springs is at Cascade Park listed at $875.

How much is rent for a Cheap One Bedroom Downtown Colorado Springs Apartment?

The lowest price for a Cheap One Bedroom Downtown Colorado Springs Apartment is $768 at Shooks Run.

What is the lowest price for a Cheap Two Bedroom Downtown Colorado Springs Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Colorado Springs is starting from $849 at Rosewood Apartments.

What is the most affordable Downtown Colorado Springs Three Bedroom Apartment?

The best deal on a cheap Downtown Colorado Springs Three Bedroom Apartment rental is at Summit View Apartments and starts from $1,195.

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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.