How Much Does an Apartment Cost in Colorado Springs? Rent, Buy, and Neighborhood Prices Explained
April 27, 2026
Colorado Springs sits in a sweet spot that not many cities can claim: genuine outdoor beauty, a growing job market, and housing costs that don’t immediately drain your bank account. Whether you’re relocating from Denver, moving from out of state, or simply exploring your options, understanding what apartments actually cost here is the first step toward making a smart financial decision.
In this guide, you’ll find current rent prices broken down by apartment size, purchase price data, a practical rent-vs.-buy comparison, neighborhood-by-neighborhood pricing, and tips for landing the best deal in the Colorado Springs market.
Key Insight: Rental prices in Colorado Springs vary significantly depending on the source and methodology. Throughout this article, we reference multiple data providers — RentCafe, Apartments.com, Zillow, and others — so you get a well-rounded picture rather than a single number.
Average Rent in Colorado Springs by Apartment Size
The average rent for an apartment in Colorado Springs is approximately $1,496, representing a 2.94% decrease compared to the previous year, when the average rent was $1,541. That downward trend is good news if you’re actively searching right now.
Rent varies considerably based on how many bedrooms you need. Here’s a current breakdown across multiple trusted sources:
| Apartment Size | Avg. Sq. Footage | Avg. Monthly Rent (RentCafe) | Avg. Monthly Rent (Apartments.com) |
|---|---|---|---|
| Studio | ~438–500 sq ft | $998 | $1,142 |
| 1-Bedroom | ~687–700 sq ft | $1,326 | $1,316 |
| 2-Bedroom | ~989–1,000 sq ft | $1,591 | $1,603 |
| 3-Bedroom | ~1,261 sq ft | $2,011 | $2,035+ |
Studio apartments at around $998 per month offer the most budget-friendly option, with approximately 438 square feet — ideal for single renters prioritizing location over space. One-bedroom apartments provide 687 square feet for $1,326, balancing privacy and affordability.
Two-bedroom apartments are suitable for small families or roommates, typically ranging between 900 and 1,000 square feet, with an average rent of about $1,572. Three-bedroom apartments deliver maximum space at around 1,261 square feet for approximately $2,011 per month, suitable for larger households.
Pro Tip: The largest share of rentals in Colorado Springs — about 40% — fall between $1,001 and $1,500 per month, meaning there’s a healthy supply of mid-range options to choose from.
If you need more room and are open to renting a house instead of an apartment, the costs climb. Houses tend to be more expensive, averaging approximately $2,188 per month for a three-bedroom. You can explore the different types of apartments available to find the format that fits your lifestyle and budget best.
Average Apartment Purchase Price in Colorado Springs
If you’re thinking beyond renting, Colorado Springs offers a relatively accessible entry point into homeownership compared to many other Colorado cities. The median sale price of a home in Colorado Springs was $445,000 last month, down 1.8% since last year.
Colorado Springs consistently offers a more affordable real estate market compared to Denver, making it an attractive option for those seeking more space and a lower cost of entry into homeownership — with the median home sale price approximately $445,000 to $448,000.
The median sale price per square foot in Colorado Springs is $214, up 1.4% since last year. That figure gives you a useful benchmark when evaluating whether a specific listing is priced fairly.
Important Note: Colorado Springs is predicted to have a relatively flat to slightly decreasing trend in home prices through September 2026, which may create opportunities for buyers who are patient and prepared.
The Colorado Springs housing market is in a phase of adjustment, with moderating price growth and increased inventory. While a crash is not on the horizon, expect a more balanced market with opportunities for both buyers and sellers.
The Colorado Springs housing market is somewhat competitive — homes receive 1 offer on average and sell in around 82 days, giving buyers more breathing room than in peak years.
Cost of Renting vs. Buying in Colorado Springs
The rent-vs.-buy decision is one of the most significant financial choices you’ll make, and Colorado Springs presents a nuanced picture. On the surface, monthly rent appears lower than a mortgage payment on a median-priced home — but the full comparison involves more variables.
Here’s a side-by-side look at the key financial factors:
| Factor | Renting | Buying |
|---|---|---|
| Avg. Monthly Cost | ~$1,326–$1,591 (1–2 BR) | Est. $2,200–$2,600/mo (mortgage on $445K home at ~7%) |
| Upfront Costs | Security deposit + first/last month | Down payment (3–20%) + closing costs |
| Equity Building | None | Yes, over time |
| Flexibility | High — easier to relocate | Low — tied to property |
| Maintenance Costs | Landlord’s responsibility | Owner’s responsibility (est. 1–2% of home value/year) |
| Market Risk | Rent increases at renewal | Home value fluctuation |
Because the average rent in Colorado Springs is around $1,316, you’ll want to earn about $4,386 per month or $52,632 per year — based on the general guideline of spending no more than 30% of your monthly income on rent.
Using the 30% income-to-rent rule, you’ll need about $66,000 annually to cover rent for the average apartment in Colorado Springs. For buying, the income requirement climbs higher given current mortgage rates.
Pro Tip: Colorado Springs has emerged as a compelling market for real estate investors, with a blend of steady growth, a robust job market, and a thriving rental scene. If you’re considering buying as an investment property, the numbers can work in your favor — especially with strong occupancy rates citywide.
Renting makes more financial sense if you plan to stay fewer than 3–5 years, since transaction costs of buying and selling can outweigh equity gains in a flat market. Buying makes more sense if you’re planting long-term roots and want to build wealth. You can also check out tips on cutting everyday costs to free up more budget for housing, whether you rent or buy.
Cheapest and Most Expensive Neighborhoods in Colorado Springs
Where you choose to live within Colorado Springs can shift your monthly rent by hundreds of dollars. The city’s neighborhoods range from budget-friendly pockets on the east side to premium enclaves near the mountains and military installations.
Most Affordable Neighborhoods
The most affordable neighborhoods in Colorado Springs include Cragmoor, where the average 1-bedroom apartment rent goes for $700; Southeast Colorado Springs, where renters pay $864 on average; and Park Hill, where the average 1-bedroom apartment rent goes for $864.
- Cragmoor – ~$700/mo for a 1-bedroom
- Southeast Colorado Springs – ~$864/mo for a 1-bedroom
- Park Hill – ~$864/mo for a 1-bedroom
- Divine Redeemer – ~$899/mo for a 1-bedroom
- Spring Creek – ~$895/mo for a 1-bedroom
- Deerfield Hills – ~$866/mo for a 1-bedroom
Based on current rent prices, Deerfield Hills, The Bluffs at Spring Creek, and Palmer Heights are among the most affordable neighborhoods in Colorado Springs. Knob Hill, Pikes Peak Park, and Spring Creek are also among the most affordable neighborhoods, with rents starting around $1,199 per month.
Most Expensive Neighborhoods
The most expensive neighborhood in Colorado Springs is Banning Lewis Ranch, where the average rent for a 1-bedroom apartment is $3,020.
- Banning Lewis Ranch – ~$3,020/mo for a 1-bedroom
- Northgate – ~$1,865/mo (citywide above-average)
- Wolf Ranch – ~$2,299/mo for a 1-bedroom
- Memorial Park – ~$2,185/mo for a 1-bedroom
- Ridgeview at Stetson Hills – Among the most expensive per current data
- University Heights – Premium pricing, desirable location
Key Insight: Areas like Briargate, Old Colorado City, and Broadmoor have a good mix of housing options for both singles and families — making them solid middle-ground choices if you want amenities without paying top-tier prices.
The most popular neighborhoods in Colorado Springs are East Colorado Springs, where the average 1-bedroom apartment rent goes for $915; Palmer Park, where renters pay $1,134 on average; and Divine Redeemer, where the average 1-bedroom apartment rent goes for $899. These popular but affordable neighborhoods are worth prioritizing in your search. If you’re considering pets, you’ll also want to check out the best exotic pets for apartment living before signing a lease.
What Affects Apartment Prices in Colorado Springs
Understanding what drives rent and purchase prices in Colorado Springs helps you time your search and negotiate smarter. Several interconnected factors shape what you’ll pay.
Military Presence and Employment
The city’s economy is supported by military installations, technology companies, and a robust healthcare sector. Proximity to Fort Carson, Peterson Space Force Base, and the Air Force Academy creates consistent housing demand, particularly in neighborhoods near these installations — which pushes rents up in those areas.
Population Growth
Colorado Springs boasts a vibrant and growing population. The city has witnessed impressive growth over the past 50 years, with a growth rate consistently higher than most other cities in the state — from 1992 to 2022, the city’s population increased by 69%. More residents means more demand for housing, which applies upward pressure on prices.
In-Migration Trends
Young professionals, retirees, and military families are all drawn to the city’s affordability, job opportunities, and outdoor recreation options. This diverse demographic ensures a steady demand for a variety of housing types, from starter homes and family residences to upscale condos.
Neighborhood Amenities and Location
Proximity to Garden of the Gods, Pikes Peak, top-rated schools, and the downtown corridor all add a premium to nearby rents. Residents enjoy easy access to natural wonders like Garden of the Gods with its dramatic red rock formations and the Cheyenne Mountain Zoo, America’s only mountain zoo — and apartments near these attractions command higher prices.
Utility and Living Costs
You can expect to pay 2.5% more for groceries, 23.5% less for utilities, and 4.0% less for transportation compared to national averages. Lower utility costs can partially offset higher rent in certain neighborhoods, so factor total monthly expenses — not just rent — into your budget. The average cost of basic utilities is $190.89 per month, which is slightly below the U.S. average; adding internet brings the total to about $290.51 per month.
Common Mistake: Focusing only on rent and ignoring utilities, parking fees, pet deposits, and renter’s insurance when calculating your true monthly housing cost. Always ask for a full breakdown of fees before signing a lease.
Is Colorado Springs Affordable Compared to the Rest of the US
Colorado Springs holds up well in national affordability comparisons — but the picture is more nuanced than a simple yes or no.
As of August 2025, the average rent in Colorado Springs is $1,316 per month — approximately 20% lower than the national average rent of $1,638 per month, making renting in Colorado Springs more affordable than most cities in the US.
Here’s how Colorado Springs stacks up against key benchmarks:
| Location | Avg. 1-BR Rent | Avg. Home Price |
|---|---|---|
| Colorado Springs | ~$1,316–$1,496 | ~$445,000 |
| Denver | ~$1,872–$2,103 | ~$580,000–$614,000 |
| National Average | ~$1,638 | ~$420,000 (median) |
Renting in Colorado Springs averages about $1,553 per month, compared to $1,994 per month in Denver, highlighting the affordability advantage of the Springs. On average, living in Denver is about 8% more expensive than in Colorado Springs, with housing costs being the primary driver of this difference.
However, Colorado Springs isn’t without its costs. According to Sperling’s BestPlaces, the cost of living in Colorado Springs is 10.3% higher than the average U.S. city, with single residents without children spending around $4,233 a month. This price range still makes it much more affordable than cities like Boston and Chicago.
Colorado Springs is much more affordable than Denver across all categories, particularly housing and transportation. For anyone relocating from a high-cost metro, the difference is immediately noticeable in your monthly budget. If you’re curious how costs compare in other cities globally, you might find it interesting to read about how much an apartment costs in Kathmandu for a different perspective.
Key Insight: Colorado Springs continues to attract new business activity, with business filings rising 7.7% year over year in early 2025, and education and health services seeing a 5.5% increase in jobs year-on-year — meaning the local economy is growing, which supports both housing demand and wage growth.
Tips for Finding an Apartment in Colorado Springs
Knowing the numbers is one thing — actually landing a good apartment at a fair price takes strategy. Here are practical steps to help you navigate the Colorado Springs rental market.
1. Search in the Right Neighborhoods for Your Budget
Start your search in established affordable neighborhoods like East Colorado Springs, Palmer Park, Spring Creek, and Deerfield Hills if budget is your primary concern. If you want newer construction and more amenities, Briargate and the Powers corridor offer more options — just expect to pay more. The neighborhoods in Colorado Springs with the most apartments available are North Colorado Springs, West Colorado Springs, and East Colorado Springs, so you’ll find the widest selection there.
2. Time Your Search Strategically
The Colorado Springs rental market currently leans in renters’ favor. The overall median rent in the city stands at $1,326, and prices remain down 4.2% year-over-year. Searching during fall and winter months typically yields better deals and more negotiating leverage, since fewer people are moving during those seasons.
3. Use Multiple Listing Platforms
Don’t rely on a single source. Use Apartments.com , Zillow , RentCafe , and Apartment List in tandem to compare listings and spot pricing discrepancies. Each platform pulls from different data sources, so cross-referencing gives you a more accurate picture of what’s fair in a specific neighborhood.
4. Know What Income You Need Before You Apply
Because the average rent in Colorado Springs is $1,316, you’ll want to make about $4,386 per month or $52,632 per year, based on the general guideline of spending no more than 30% of your monthly income on rent. Most landlords require proof of income at 2.5x to 3x the monthly rent, so have your pay stubs or bank statements ready before you start applying.
5. Ask About All Fees Upfront
Monthly rent is rarely the full story. Ask specifically about:
- Pet deposits and monthly pet fees
- Parking costs (especially in downtown buildings)
- Trash, water, and sewer fees
- Renter’s insurance requirements
- Application and administrative fees
These add-ons can increase your effective monthly cost by $100–$300 or more. The average cost of basic utilities is $190.89 per month, which is a helpful baseline when budgeting total monthly expenses.
6. Consider What You Actually Need in a Space
Before touring apartments, get clear on your non-negotiables versus nice-to-haves. Urban living essentials like in-unit laundry, bike storage, and reliable internet access can make a significant difference in day-to-day quality of life — and knowing your priorities prevents you from overpaying for features you won’t use.
7. Check Lease Terms Carefully
The Colorado Springs rental market temperature is currently rated as “cool,” meaning you have more negotiating power than in previous years. Use that leverage to negotiate lease terms — ask for a rent reduction, free parking, or a longer lease lock-in at the current rate before prices potentially rise again.
Pro Tip: Rent for smaller apartments can start as low as $500 per month, although options at this price are limited — these affordable units are often found in less-central areas or older buildings. If you’re extremely budget-conscious, expanding your search radius and considering older stock can unlock significant savings.
Finding the right apartment in Colorado Springs takes a mix of research, timing, and knowing what you’re willing to compromise on. With rents trending downward and inventory available across a wide range of neighborhoods, you’re in a better position than renters were just a few years ago. Take your time, compare your options across multiple real estate platforms , and use the data in this guide as your financial anchor throughout the process.