Cheap Homes for Rent in Colorado Springs, CO from $500 (69 Rentals)

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property at 1630 Shasta Dr

1630 Shasta Dr, Unit 4

1630 Shasta Dr
Colorado SpringsCO80910
property at 1997 Traces Ln

1997 Traces Ln, Unit B

1997 Traces Ln
Colorado SpringsCO80951

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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property at 4818 Hobkirks Pt

4818 Hobkirks Pt

Colorado SpringsCO80906

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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property at 1408 Race St

1408 Race St

Colorado SpringsCO80904

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

Cheapest Neighborhoods for Apartments in Colorado Springs, CO

Pricing Updated: 06/27/2025

Current apartment rentals in the Colorado Springs, CO area range in price from $588 to $8,137 with an overall median price of $2,405. The three Colorado Springs neighborhoods with the lowest median rent pricing are Spring Creek at $812, Divine Redeemer at $830, and Patty Jewett at $1,285. 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
Spring Creek$1,133$81220
Divine Redeemer$1,212$83069
Patty Jewett$1,285$1,2851
Shooks Run$1,300$96515
North End Colorado Springs$1,350$74923
Pheasant Run Ranch$1,450$58830
Oak Valley Ranch$1,570$1,2503
U Colorado at Colorado Springs$1,625$650156
Ute Valley Park$1,646$899113
Garden Ranch$1,650$65019

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
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
Urban Edge ApartmentsStudioStudio,1BA$795
Come Home to Willow Ridge!1BR/1.0BA1BR,1BA$795

Best Value Apartments for Rent in Colorado Springs, CO

As of June 27, 2025 the best value apartment in the Colorado Springs area is the $1.10 price per square foot 2x2 Model at The Creek at Cottonwood Apartment Homes in the in the Stetson Run neighborhood starting from $1,229. The second greatest value Colorado Springs apartment is the 2BD, 1BTH 1050 Model at The Carlson Apartments starting at $1,199 with a $1.14 price per square foot in the Knob Hill 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.
The Creek at Cottonwood Apartment Homes2x22BR,2BA$1.10
The Carlson Apartments2BD, 1BTH 10502BR,1BA$1.14
11 West | Student HousingTwo Bedroom2BR,2BA$0.78
Regal Estates1 Bed 1 Bath1BR,1BA$0.85
Rosewood Apartments2 Beds, 1 Baths2BR,1BA$1.00
Union Blvd Apartments2 Beds, 1 Baths2BR,1BA$1.03
Stone Canyon2BD, 1BTH2BR,1BA$1.14
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

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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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Frequently Asked Questions about Colorado Springs

What type of rentals are currently available in Colorado Springs?

There are currently 1947 Apartments for Rent in Colorado Springs, CO with pricing that ranges from $588 to $7,670. There are also 1028 Single Family Homes for rent, Condos, and Townhome rentals currently available in Colorado Springs ranging from $575 to $4,995.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Colorado Springs ranges from $575 to $4,995 with an average monthly rent of $2,402.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Colorado Springs range from $699 to $7,670, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,300 to $3,400. Four Bedroom Single-Family rentals are also available starting from $1,695 and Four Bedroom Apartments start at $1,719.

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.

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

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.

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

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.