Cheap Apartments for Rent in the Downtown Neighborhood of Colorado Springs, CO from $500 (57 Rentals)

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

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

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property at 107 E Motor Way

107 E Motor Way

Colorado SpringsCO80905

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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VIM
Rent Specials
from $1,150Studio to 2 Bedroom Apartments Available Now

VIM

322 E Vermijo AveColorado Springs, CO 80903
Pet Friendly
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property at 913 S Prospect St

913 S Prospect 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

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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1505 E Kiowa St
Studio 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 Bedroom Apartments

Shooks Run

842 S Royer StColorado 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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1602 S Wahsatch Ave
1 Bedroom Apartments

1602 S Wahsatch Ave

1602 S Wahsatch AveColorado Springs, CO 80905
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616 N Weber St
1 Bedroom Apartments

616 N Weber St

616 N Weber StColorado Springs, CO 80903
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Aspen Creek
1 Bedroom Apartments

Aspen Creek

319-321 E Brookside StColorado Springs, CO 80905
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The Woods Apartments
1 Bedroom Apartments

The Woods Apartments

215-233 E Arvada StColorado Springs, CO 80905
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608 N Nevada Ave
1 Bedroom Apartments

608 N Nevada Ave

608 N Nevada AveColorado Springs, CO 80903
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Boulder Crescent
Studio to 3 Bedroom Apartments

Boulder Crescent

30 Boulder Crescent StColorado Springs, CO 80903
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Prospect Park
1 to 2 Bedroom Apartments

Prospect Park

825 S Union BlvdColorado Springs, CO 80910
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Bonfoy Apartments
1 Bedroom Apartments

Bonfoy Apartments

110 Bonfoy AveColorado Springs, CO 80909
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Cascade Park
1 to 2 Bedroom Apartments

Cascade Park

624 N Cascade AveColorado Springs, CO 80903
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Parkmoor Apartments
2 Bedroom Apartments

Parkmoor Apartments

1117-1125 E Saint Vrain StColorado Springs, CO 80903
Showing Results 1-50, Page 1 of 2

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. Rosewood Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $849. Here are the most affordable Downtown apartments for rent in Colorado Springs, CO:

Apartment ListingModel NameBed/BathPriced From
Shooks Run1x1 40%1BR,1BA$768
Rosewood Apartments2 Beds, 1 Baths2BR,1BA$849
Applewood ApartmentsStudioStudio,1BA$880
Tamarac2x1 40%2BR,1BA$922
Union Blvd Apartments2 Beds, 1 Baths2BR,1BA$929
The Village at Homewood Point1x1 50%1BR,1BA$979
Elevate Apartment HomesKaloUnityStudio,1BA$985
Prospect Park1x11BR,1BA$995
Downtown Studio Apartment for rent1BR/1.0BA1BR,1BA$1,000
Sienna Place2X12BR,1BA$1,025

Best Value Apartments for Rent in Downtown, CO

As of May 18, 2025 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 Patty Jewett 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 Patty Jewett 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
Jasmine Springs2BR/1.0BA2BR,1BA$1.52
Park BonfoyA31BR,1BA$1.67
Sienna Place2X12BR,1BA$1.41
Shooks Run1x1 40%1BR,1BA$1.08
Homewood Point ApartmentsOne Bedroom1BR,1BA$1.01
Tamarac2x1 50%2BR,1BA$1.73
Prospect Park1x11BR,1BA$1.58
The Village at Homewood Point1x1 50%1BR,1BA$1.69

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, CO

Ranked #15

Among neighborhoods in Colorado Springs, CO for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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 Applewood Apartments listed at $880.

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 $849 at Rosewood Apartments.

What is the most affordable Downtown Three Bedroom Apartment?

The best deal on a cheap Downtown Three Bedroom Apartment rental is at Elevate Apartment Homes and starts from $1,649.

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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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.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.