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.
What’s the cheapest neighborhood to live in Colorado Springs for 2020? According to the most recent census data, Powers 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
- Best Counties To Live In Colorado
- Cheapest Cities To Live In America
- Cheapest States To Live In America
How We Determined The Cheapest Colorado Springs Hoods In 2020
In order to rank the cheapest places to live in Colorado Springs, we had to determine what criteria defines “cheap”.
- 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, Powers.
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.
The 5 Cheapest Neighborhoods To Live In Colorado Springs For 2020
The median income in Powers comes in at $61,137 and the median home value is $184,842 for 2020.
The median income in Northwest Colorado Springs comes in at $92,272 and the median home value is $327,777 for 2020.
The median income in Briargate comes in at $84,108 and the median home value is $283,838 for 2020.
The median income in Southeast Colorado Springs comes in at $39,845 and the median home value is $138,579 for 2020.
The median income in West Colorado Springs comes in at $49,735 and the median home value is $225,383 for 2020.
Summing Up The Cheapest Places 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:
- Cheapest Places To Live In Colorado
- Best Places To Raise A Family In Colorado
- Best Places To Retire 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 2020
|Rank||Neighborhood||Cost Of Living Index|
|2||Northwest Colorado Springs||112|
|4||Southeast Colorado Springs||89|
|5||West Colorado Springs||98|
|6||Northeast Colorado Springs||98|
|7||Old Colorado City||124|
|9||East Colorado Springs||98|
|10||Southwest Colorado Springs||135|
|11||Central Colorado City||105|