Colorado Springs’ rental market showed continued growth in Q1 2025, with steady demand, rising rents, and quicker leasing activity across various property types. Although concessions rose slightly, they remained higher than national averages, indicating that landlords are still using incentives to stay competitive.
Rents saw consistent increases, particularly for larger units, driven by the ongoing demand for space. This trend was complemented by a rise in inventory, providing renters with more options as the spring season approached. Despite the uptick in available units, properties are leasing faster, reflecting strong interest and demand.Looking ahead, property managers largely expect rents to remain stable in the near future, though maintenance costs and growing inventory in the multifamily sector are trends worth monitoring.
For now, Colorado Springs’ rental market appears strong, with solid fundamentals and healthy momentum as we head into the peak rental season.
Continue reading for a deeper dive into Colorado Springs' rental landscape, including rent trends, leasing activity, property manager sentiment, and more.
In Colorado Springs, over half of property managers (53%) expect rent prices to increase in the next six months—the highest percentage among surveyed markets—while the remaining 47% anticipate prices will stay the same. Notably, none forecast a decrease, reflecting strong confidence in the upward trajectory of rent prices. On the demand side, 82% of property managers report that applicant volume has remained steady, with 15% seeing more applicants and just 3% experiencing fewer. This suggests a stable rental market with rising prices and consistent demand across most properties.
In Q1 2025, half of all rental listings in Colorado Springs included concessions, far surpassing the national average of 28%. This marks a return to the local peak seen in Q2 2024, indicating ongoing pressure on landlords to attract tenants. While national concession rates have leveled off, Colorado Springs remains a standout for renter incentives.
Rentals in Colorado Springs moved faster in Q1 2025 than the national average. Single family homes averaged just 18 days on market, compared to 23 days nationally, while multifamily homes averaged 23 days, matching the national figure. These numbers reflect improved leasing velocity compared to late 2024 and suggest stronger demand heading into the spring season.
Rental prices in Colorado Springs saw continued growth in early 2025. One-bedroom units rose slightly to $1,450 after a sharp increase in Q4 2024. Two-bedrooms held steady at $1,675, while three-bedroom units rose to $2,045, the highest in the past year. Multifamily rents climbed to $1,575, and single family homes reached $2,100, matching their Q2 2024 peak. The consistent upward trend points to a tightening rental market.
Inventory expanded across all property types in Colorado Springs in Q1 2025. Three-bedroom listings rose by 6.3%, two-bedrooms by 11.2%, and one-bedrooms by 10.4%. Multifamily inventory increased by 11.5%, and single family listings grew by 4.4%. This growth follows several quarters of mixed availability and reflects renewed supply ahead of peak rental season.
This guest chart, courtesy of Snaptimate, illustrates regional cost trends for a typical residential unit turnover. The sample scope is for an 800 single-family unit and includes interior painting, carpet replacement, and resurfacing a pressure-treated deck. While the Northeast remains the most expensive region, the West is rapidly catching up with a 3.8% quarter-over-quarter increase - the highest in the country. Turnover costs are rising nearly everywhere, with 95% of markets analyzed showing upward movement. In the Colorado Springs market specifically, costs increased by 0.51%. In this work scope labor costs made up the bulk of the total, so wage inflation had the greatest impact on overall increases. The effect of tariffs on construction materials remains unclear, but it will be a key factor to watch in the coming quarters.
Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. In the Colorado Springs market, MLS data was also included, courtesy of RSC. Rental Beast listing data covers a range of rental property types and owner types operating within the long-term rental market (generally considered to be leases with a minimum of three months). Single-family rentals are considered to be properties with 4 or fewer units. Multifamily is more than 4 doors. Unless otherwise noted, our analysis uses the Colorado Springs, CO, metropolitan statistical area (MSA) as the geographical unit.
Unique listings counts are based on rentals that were on-market at any point during the stated period. Rents are calculated based on these listings. Days on market (DOM) and concession analysis are based on these listings, with some data sources excluded due to DOM and concession info being unavailable or deemed to be unreliable. Concessions are incentives that entice renters to sign a lease (e.g., one month free, a gift card, etc.).
Our sentiment survey is based on phone conversations during Q1 2025 with rental building and community managers and property managers. Questions and answer choices:
DISCLAIMER. This report attempts to provide reliable and useful information; however, there is no guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Our analysis uses MSA as the geographical unit and is not reflective of all-U.S. measures. Information from this document may be used with proper attribution.©2025 by Rental Beast
Snaptimate (www.snaptimate.com) is an app that delivers instant, localized cost estimates for residential repairs, replacements, and renovations—tailored specifically for real estate professionals. It is fueled by the same data trusted by contractors for more than 20 years in the nation’s #1 estimating platform.
