Everything else equal, we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Colorado Springs might be more expensive than living in rural Colorado, there are certain neighborhoods that are definitely cheaper.
What exactly are those Colorado Springs neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and determine which neighborhoods in Colorado Springs are the cheapest using Saturday Night Science.
What’s the cheapest neighborhood to live in Colorado Springs for 2024? According to the most recent census data, Northeast Colorado Springs looks to be the cheapest Colorado Springs neighborhood to live in.
At this point, we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Colorado Springs. You could be sacrificing location or crime rates for more space and cheaper groceries.
Read on to see how we determined the places around Colorado Springs that deserve a little bragging rights, or maybe you’re interested in the worst neighborhoods in Colorado Springs.
For more Colorado reading, check out:
- Best Places To Live In Colorado
- Cheapest Places To Live In Colorado
- Cheapest Cities To Live In America
- Cheapest States To Live In America
Table Of Contents: Top Ten | Methodology | Summary | Table
The 5 Cheapest Neighborhoods To Live In Colorado Springs For 2024
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Population: 64,309
Cost Of Living Index: 106 (4th cheapest)
Home Value To Income Ratio: 3.5 (2nd cheapest)
Rent To Income Ratio: 0.017 (4th cheapest)
More on Northeast Colorado Springs: Data | Real Estate
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Population: 39,887
Cost Of Living Index: 105 (2nd cheapest)
Home Value To Income Ratio: 3.2 (cheapest)
Rent To Income Ratio: 0.019 (8th cheapest)
More on Powers: Data | Real Estate
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Population: 52,865
Cost Of Living Index: 119 (7th cheapest)
Home Value To Income Ratio: 3.6 (3rd cheapest)
Rent To Income Ratio: 0.018 (7th cheapest)
More on Briargate: Data | Real Estate
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Population: 27,351
Cost Of Living Index: 120 (8th cheapest)
Home Value To Income Ratio: 4.0 (6th cheapest)
Rent To Income Ratio: 0.016 (3rd cheapest)
More on Northwest Colorado Springs: Data | Real Estate
/10
Population: 66,120
Cost Of Living Index: 97 (cheapest)
Home Value To Income Ratio: 3.9 (5th cheapest)
Rent To Income Ratio: 0.024 (11th cheapest)
More on Southeast Colorado Springs: Data | Real Estate
Methodology: How We Determined The Cheapest Colorado Springs Hoods In 2024
To rank the cheapest places to live in Colorado Springs, we had to determine what criteria define “cheap” and then apply Saturday Night Science.
Using Census and extrapolated BLS data, we arrived at the following set of criteria:
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 11 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index, the “Cheapest City Neighborhood In Colorado Springs.” We’re lookin’ at you, Northeast Colorado Springs.
We updated this article for 2024. This is our fourth time ranking the cheapest neighborhoods to live in Colorado Springs. Skip to the end to see the list of all the neighborhoods in the city, from cheapest to most expensive.
Summary: Lowest Cost Places To Live In Colorado Springs
If you’re measuring the neighborhoods in Colorado Springs where prices are low, and it’s cheap to live, this is an accurate list.
The most affordable neighborhoods in Colorado Springs are Northeast Colorado Springs, Powers, Briargate, Northwest Colorado Springs, Southeast Colorado Springs, East Colorado Springs, Northgate, West Colorado Springs, Southwest Colorado Springs, and Central Colorado City.
As mentioned earlier, the neighborhoods in Colorado Springs aren’t all cheap. Old Colorado City takes the title of the most expensive neighborhood to live in Colorado Springs.
The most expensive neighborhoods in Colorado Springs are Old Colorado City, Central Colorado City, Southwest Colorado Springs, West Colorado Springs, and Northgate.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Colorado reading, check out:
- Most Dangerous Cities In Colorado
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- Safest Places In Colorado
- Worst Places To Live In Colorado
Detailed List Of The Cheapest Neighborhoods To Live In Colorado Springs For 2024
| Rank | Neighborhood | Cost Of Living Index |
|---|---|---|
| 1 | Northeast Colorado Springs | 106 |
| 2 | Powers | 105 |
| 3 | Briargate | 119 |
| 4 | Northwest Colorado Springs | 120 |
| 5 | Southeast Colorado Springs | 97 |
| 6 | East Colorado Springs | 107 |
| 7 | Northgate | 134 |
| 8 | West Colorado Springs | 106 |
| 9 | Southwest Colorado Springs | 143 |
| 10 | Central Colorado City | 114 |
| 11 | Old Colorado City | 132 |