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Everything else equal, I think 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.
So 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 find out which neighborhoods in Colorado Springs are the cheapest.
The Cheapest Neighborhoods In Colorado Springs For 2022
What's the cheapest neighborhood to live in Colorado Springs for 2022? According to the most recent census data, Northwest Colorado Springs looks to be the cheaptest 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 in return 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.
Once you're done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
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
The 5 Cheapest Neighborhoods To Live In Colorado Springs For 2022
/10
Population: 20,735
Cost Of Living Index: 119 (8th cheapest)
Home Value To Income Ratio: 3.6 (4th cheapest)
Rent To Income Ratio: 0.011 (2nd cheapest)
More on Northwest Colorado Springs: Homes For Sale | Data
/10
Population: 13,407
Cost Of Living Index: 102 (2nd cheapest)
Home Value To Income Ratio: 4.5 (7th cheapest)
Rent To Income Ratio: 0.015 (5th cheapest)
More on West Colorado Springs: Homes For Sale | Data
/10
Population: 48,215
Cost Of Living Index: 117 (7th cheapest)
Home Value To Income Ratio: 3.4 (2nd cheapest)
Rent To Income Ratio: 0.016 (6th cheapest)
More on Briargate: Homes For Sale | Data
/10
Population: 152,311
Cost Of Living Index: 103 (4th cheapest)
Home Value To Income Ratio: 3.0 (cheapest)
Rent To Income Ratio: 0.018 (10th cheapest)
More on Powers: Homes For Sale | Data
/10
Population: 50,481
Cost Of Living Index: 97 (cheapest)
Home Value To Income Ratio: 3.5 (3rd cheapest)
Rent To Income Ratio: 0.021 (11th cheapest)
More on Southeast Colorado Springs: Homes For Sale | Data
Methodology: How We Determined The Cheapest Colorado Springs Hoods In 2022
In order to rank the cheapest places to live in Colorado Springs, we had to determine what criteria defines "cheap".
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, Northwest Colorado Springs.
Read on below to learn more about what it's like to live in the cheapest places Colorado Springs. Or 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.
As we mentioned earlier, the neighborhoods in Colorado Springs aren't all cheap. Central Colorado City takes the title of the most expensive neighborhood to live in Colorado Springs.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Colorado reading, check out:
- Most Dangerous Cities In Colorado
- Richest Cities In Colorado
- Safest Places In Colorado
- Worst Places To Live In Colorado
Detailed List Of The Cheapest Neighborhoods To Live In Colorado Springs For 2022
| Rank | Neighborhood | Cost Of Living Index |
|---|---|---|
| 1 | Northwest Colorado Springs | 119 |
| 2 | West Colorado Springs | 102 |
| 3 | Briargate | 117 |
| 4 | Powers | 103 |
| 5 | Southeast Colorado Springs | 97 |
| 6 | Northeast Colorado Springs | 103 |
| 7 | Northgate | 133 |
| 8 | Old Colorado City | 131 |
| 9 | East Colorado Springs | 103 |
| 10 | Southwest Colorado Springs | 142 |
| 11 | Central Colorado City | 111 |
