Penrose Plaza
3616 E Galley Rd,
Colorado Springs, CO 80909
$895 - $1,095 Plus Fees
1-2 Beds
If you’re looking for easy access to plenty of shopping and dining, Knob Hill is a great choice. Knob Hill has multiple shopping centers and restaurants located in and around the neighborhood. The Citadel Mall rests just outside the border of the neighborhood, and Downtown Colorado Springs is only three miles away, providing residents with even more options. Knob Hill has several parks for residents to enjoy and is near several popular parks as well like Memorial Park, which hosts an annual hot air balloon festival. Popular destinations like Petersen Air Force Base, the Air Force Academy, and the U.S. Olympic and Paralympic Training Center are just a short drive away as well. Colorado Springs is one of the most affordable places to live in Colorado, and Knob Hill follows suit with affordable to upscale apartments, houses, and townhouses available for rent.
As of March 2026, the average apartment rent in Knob Hill is $797 for a studio, $883 for one bedroom, $1,102 for two bedrooms, and $1,251 for three bedrooms. Apartment rent in Knob Hill has decreased by -3.0% in the past year.
Studio
486 sq ft
Average Sq Ft
$797/month
Average Rent
1 BR
586 sq ft
Average Sq Ft
$883/month
Average Rent
2 BR
843 sq ft
Average Sq Ft
$1,102/month
Average Rent
3 BR
994 sq ft
Average Sq Ft
$1,251/month
Average Rent
Explore how walkable, bikeable, drivable, and transit-friendly Knob Hill - Colorado Springs, CO is for everyday living.
Very Walkable
If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.
Some Transit
You'll likely want a car when living in this area since it has few transit options.
Bikeable
While there’s some bike infrastructure in this area, you’ll still need a car for many errands.
3,489
Communities
958,056
Units
893
Cities
715
Communities
198,531
Units
338
Cities
631
Communities
175,806
Units
251
Cities
625
Communities
125,220
Units
245
Cities
566
Communities
126,998
Units
222
Cities
458
Communities
108,651
Units
228
Cities
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.