Cheap Apartments for Rent in the Downtown Neighborhood of Colorado Springs, CO from $500 (62 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown 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
$1,250 - $2,796Studio to 2 Bedroom Apartments Available Now

VIM

322 E Vermijo AveColorado Springs, CO 80903
Corporate Housing
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property at 1117 E St Vrain St

$1,300 - $1,900

1 To 3 Bedroom Rentals

Available Now

1117 E St Vrain St

Colorado SpringsCO80903
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The Bonfoy Apartments
Studio to 2 Bedroom Apartments

The Bonfoy Apartments

112 Bonfoy AveColorado Springs, CO 80909
  • Utilities Included

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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Meadows Pointe Apartments
Studio to 2 Bedroom Apartments

Meadows Pointe Apartments

233 E Arvada StColorado Springs, CO 80905
  • Utilities Included
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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
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Applewood Apartments
Studio to 1 Bedroom Apartments

Applewood Apartments

505 E Arvada StColorado Springs, CO 80905
  • Utilities Included
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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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Ivywild Flats
1 to 2 Bedroom Apartments

Ivywild Flats

316 E BrooksideColorado Springs, CO 80905

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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Cascade Park
Studio to 3 Bedroom Apartments

Cascade Park

624 N Cascade AveColorado Springs, CO 80903
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Park Bonfoy
Studio to 2 Bedroom Apartments

Park Bonfoy

129 Bonfoy AveColorado Springs, CO 80909
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Brookside Apartments
Studio to 2 Bedroom Apartments

Brookside Apartments

418-432 E Brookside StColorado Springs, CO 80905
  • Utilities Included
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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
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Kalo Ivywild
Studio to 3 Bedroom Apartments

Kalo Ivywild

402 Crestone LnColorado Springs, CO 80905
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Aspen Creek
1 Bedroom Apartments

Aspen Creek

319-321 E Brookside StColorado Springs, CO 80905
  • Utilities Included
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306 N Cascade Ave
1 Bedroom Apartments

306 N Cascade Ave

306 N Cascade AveColorado Springs, CO 80903

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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Downtown, Colorado Springs, CO Local Guide

Cheapest Available Downtown Apartments for Rent

 

The cheapest available apartment rental in the Downtown 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 2 Beds apartment currently listed from $799. Here are the most affordable Downtown apartments for rent in Colorado Springs, CO:

Apartment ListingModel NameBed/BathPriced From
Shooks Run1x1 40%1BR,1BA$768
Sienna Place2X12BR,1BA$799
Rosewood Apartments2 Beds, 1 Baths2BR,1BA$849
BG - SUMMIT VIEW APARTMENTS1BR/1.0BA1BR,1BA$850
Applewood Apartments1BR/1.0BA1BR,1BA$850
Cascade ParkStudioStudio,1BA$875
Downtown Studio Apartment for rent0BR/1.0BAStudio,1BA$875
Union Blvd Apartments2 Beds, 1 Baths2BR,1BA$929
Prospect Park1x11BR,1BA$995
Park BonfoyA11BR,1BA$995

Best Value Apartments for Rent in Downtown, CO

As of January 18, 2026 the best value apartment in the Downtown 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 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 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
845 E Cucharras St, Unit 845845 E Cucharras St3BR,1BA$1.41
Kalo IvywildKaloDuo-Premium2BR,1BA$1.45
Sienna Place3X13BR,1BA$1.55
804 E Kiowa St, Unit 804 E. Kiowa #4804 E Kiowa St2BR,1BA$1.38
Jasmine Springs2 Bedroom, 1 Bath2BR,1BA$1.40
Shooks Run1x1 40%1BR,1BA$1.08
Homewood Point1BR/1.0BA1BR,1BA$1.30
Prospect Park1x11BR,1BA$1.58

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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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals in cities across the United States including Downtown, Colorado Springs, and the greater Colorado Springs area. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including rankings of the best places for easy access to the parks, luxury amenities, family-friendly amenities, raising pets, transit options, and other valuable search options. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Downtown Apartments

What is the Cheapest Studio apartment in Downtown?

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

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

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

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown is starting from $799 at Sienna Place.

What is the most affordable Downtown Three Bedroom Apartment?

The best deal on a cheap Downtown Three Bedroom Apartment rental is at BG - SUMMIT VIEW APARTMENTS and starts from $1,195.

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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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.

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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.