Colorado Springs city, Colorado Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Colorado Springs city, Colorado rental market.
Highlights
An apartment for rent in Colorado Springs city, Colorado typically goes for $1,191 per month, while a single-family home for rent in Colorado Springs city, Colorado has a monthly cost of around $2,140. Renter-occupied units make up 41% of the local housing market, while the rental vacancy rate in Colorado Springs city, Colorado is at 3.9.
Colorado Springs city, Colorado
Average Apartment Rent
$1,191
Y-o-Y Change in Apartment Rent
6.06%
Average Single Family Rent
$2,140
Compared to a year ago, Colorado Springs city, Colorado apartments have recorded a 6.06% rent increase.
Colorado Springs city, Colorado |Median apartment rent trend
Colorado Springs city, Colorado| Average apartment rent by city
Colorado Springs city, Colorado | Apartment rent ranges
At 51.71%, apartments priced $1,000 - $1,500 represent the bulk of Colorado Springs city, Colorado rentals, while condos priced $500 - $700 hold the lowest share of the market – 1.75%.
Colorado Springs city, Colorado | Housing tenure
Renters take up 41% of Colorado Springs city, Colorado real estate, occupying a total of 73,103 units, while homeowners live in 105,520 properties.
Median number of rooms of renter-occupied housing units
4
Renter Median household income
$40,176
Average household size of renter occupied-housing units
2.35
Rental vacancy rate
3.9%
Colorado Springs city, Colorado | Renter-occupied housing units by no. of bedrooms
There are 28,603 rentals in Colorado Springs city, Colorado with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (3%), amounting to 2,082 units. Overall, the median number of rooms in Colorado Springs city, Colorado homes for rent is 4.
Colorado Springs city, Colorado |Renter-occupied units by age of householder
Most condos for rent in Colorado Springs city, Colorado are occupied by residents in the 25 - 34 years age group (32%), followed by those in the 35 - 44 years age group (18%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Colorado Springs city, Colorado | Renter-occupied housing units by family type
Colorado Springs city, Colorado | Renter-occupied housing units by the presence of own children
A total of 36,496 apartments for rent in Colorado Springs city, Colorado, or 50% of all rentals are family households. Additionally, 31% of rental homes include children under the age of 18 – that’s 22,646 units. All in all, the median size of a renter-occupied household in Colorado Springs city, Colorado is 2.35.
Colorado Springs city, Colorado | Renter-occupied housing units by educational attainment
In terms of education, renters holding bachelor degrees or higher make up 28% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Colorado Springs city, Colorado.
Colorado Springs city, Colorado | Renter-occupied units by year structure built
The highest share of Colorado Springs city, Colorado apartment rentals, namely 21% or 15,235 units, were built 1970 - 1979, followed by those built 1980 - 1989 (19%, 14,007 units), and the ones built 1990 - 1999 (16%, 11,708 units).
Colorado Springs city, Colorado | Renter-occupied units by year householder moved in
Median year renter moved into unit2014
Most Colorado Springs city, Colorado renters (45%) moved in 2010 to 2014, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Colorado Springs city, Colorado condos for rent is 2014.
Colorado Springs city, Colorado | Renter-occupied housing units by vehicles available
When it comes to transportation options, 47% of Colorado Springs city, Colorado renters have 1 vehicle available per household, 32% of them have 2 vehicles available, and 11% have no vehicle available.
Colorado Springs city, Colorado | Means of transportation to work of householders living in renter-occupied housing units
Colorado Springs city, Colorado |Geographical mobility in the past year for householders living in renter-occupies housing units
Colorado Springs city, Colorado | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Colorado Springs city, Colorado apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
Average single family rent calculated from point2homes.com data.
Exceptions: Data sourced from U.S. Census Bureau; American Community Survey, 2018 American Community Survey 5-Year Estimates
