Rent Affordability Calculator for Colorado Springs, CO 2026

Colorado Springs has grown from a quiet military town into one of the Mountain West's most in-demand rental markets. Fort Carson, Peterson and Schriever Space Force Bases, the Air Force Academy, and a fast-growing defense and aerospace sector keep demand strong, and at a median one-bedroom rent of $1,464, the Springs is pricier than most inland metros — though still a meaningful discount from Denver an hour north. The silver lining for renters: after years of rapid increases, average apartment rents actually dipped slightly over the past year as a wave of new construction caught up with demand.

The most expensive rentals cluster downtown, where new-build one-bedrooms average about $2,050, and along the Powers corridor on the east side, at about $2,040. Master-planned Banning Lewis Ranch on the growing northeast edge tops the market, with some new one-bedrooms reaching $3,000, while the prestigious Broadmoor area runs around $1,750. For value, look southeast and central: Cragmoor averages about $700 for a one-bedroom, Southeast Colorado Springs about $865, Park Hill roughly $900-$1,200, and Rustic Hills about $1,400. The Security-Widefield and Fountain suburbs south of town stretch budgets further.

Mountain Metropolitan Transit runs the bus network, with fares of $1.75 per ride or $63 for a 31-day pass — though coverage thins outside the central city, so most renters here keep a car. Utilities are a genuine bargain: municipally owned Colorado Springs Utilities bundles electricity, natural gas, water, and wastewater into one bill, and utility prices run roughly 20% below the national average. The high-desert climate helps too — cool mountain nights take the edge off summer cooling, and while winter heating is real, cheap natural gas keeps bills moderate.

Colorado bans rent control statewide, so there's no cap on increases at renewal — but renters gained major new protections recently. As of January 1, 2026, security deposits are capped at one month's rent under HB25-1249, and deposits must be returned within 30 days (up to 60 if your lease says so). Landlords can raise rent only once in any 12-month period, must give 60 days' notice of an increase if you don't have a written lease, and since 2024 need a legally defined "for cause" reason to evict or non-renew most tenancies.

Colorado Springs' overall cost of living lands just a few percent above the national average — housing and groceries run slightly high, while utilities, healthcare, and transportation come in below typical US costs. Municipally owned Colorado Springs Utilities is a standout, delivering electricity, gas, water, and sewer on one bill at prices roughly 20% under the national average, and the dry climate with cool mountain nights keeps summer cooling needs modest compared to the Sun Belt.

Key cost factors for renters include Colorado's flat 4.4% state income tax and a combined sales tax of 8.2% in the city (2.9% state, 1.23% El Paso County, 3.07% city, plus a 1% regional transportation tax). Transit is affordable at $63 for a 31-day Mountain Metro pass, but limited coverage means most renters budget for a car. New statewide renter protections sweeten the deal: security deposits are now capped at one month's rent, and rent can rise only once per year — useful predictability in a market that has historically moved fast.