Cheap Homes for Rent in Downtown Colorado Springs Neighborhood of Colorado Springs, CO from $600 (10 Rentals)

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Search the lowest-cost Homes available for rent right now in the Downtown Colorado Springs area of Colorado Springs.

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property at 219 N Institute St

$1,275 - $1,525

2 To 3 Bedroom Rentals

Available Now

219 N Institute St

Colorado SpringsCO80903

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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 2 Beds unit found at Sienna Place priced from $749. Shooks Run has the second lowest priced unit, which is a 1 Bed apartment currently listed from $768. Here are the most affordable Downtown Colorado Springs apartments for rent in Colorado Springs, CO:

Apartment ListingModel NameBed/BathPriced From
Sienna Place2X12BR,1BA$749
Shooks Run1x1 40%1BR,1BA$768
Rosewood Apartments2 Beds, 1 Baths2BR,1BA$849

Best Value Apartments for Rent in Downtown Colorado Springs, CO

As of December 29, 2025 the best value apartment in the Downtown Colorado Springs area is the $1.64 price per square foot 2 Bed Model at Gabion Apartments in the in the Downtown neighborhood starting from $1,895. 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.
Gabion Apartments2 Bed2BR,2BA$1.64
Rosewood Apartments2 Beds, 1 Baths2BR,1BA$0.94
Union Blvd Apartments2 Beds, 1 Baths2BR,1BA$1.03
Sienna Place3X13BR,1BA$1.61
Wyndam Place Senior Colorado SpringsWCS2 2x1 50%2BR,1BA$1.43
Jasmine Springs2 Bedroom, 1 Bath2BR,1BA$1.40
Park BonfoyA31BR,1BA$1.42
Shooks Run1x1 40%1BR,1BA$1.08
Homewood Point1BR/1.0BA1BR,1BA$1.30
The Village at Homewood Point1x1 50%1BR,1BA$1.69

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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Pet Friendly Lifestyle
Downtown Colorado Springs, Colorado Springs, CO

Ranked #13

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Downtown Colorado Springs

What type of rentals are currently available in Downtown Colorado Springs?

There are currently 241 Apartments for Rent in Downtown Colorado Springs, CO with pricing that ranges from $699 to $4,452. There are also 58 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Colorado Springs ranging from $600 to $7,500.

What is the current price range for Rental Homes in Downtown Colorado Springs?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Colorado Springs ranges from $600 to $7,500 with an average monthly rent of $1,976.

How much are larger Three and Four Bedroom Rentals in Downtown Colorado Springs?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Colorado Springs range from $1,095 to $4,452, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,313 to $7,500. Four Bedroom Single-Family rentals are also available starting from $1,970 and Four Bedroom Apartments start at $1,895.

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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.