Colorado Springs rentals are softening | Rents dipping, concessions near 57%, and buying remains the more expensive option

Colorado Springs enters Q1 2026 with conditions firmly in renters' favor. Rents are down year-over-year across most property types, more than half of all listings are offering concessions, and days on market dropped from last quarter's median. Sentiment is split, but the data tells a consistent story: this is a market where renter clients have real leverage right now.

Median rent by property type

Rents in Colorado Springs are softening across most segments. One-bedrooms are down 3.5% year-over-year to $1,399, 2-bedrooms are down 1.3% to $1,653, and 3-bedrooms are up a modest 0.2% to $2,050. Single-family rentals are flat at $2,100, while multi-family units slipped 2.2% to $1,540. The only segment showing meaningful positive movement is 3-bedrooms, and even that gain is minimal. Colorado Springs is one of the softer rent environments among the markets Rental Beast tracks.

Concessions and days on market

The concession rate in Colorado Springs stands at 56.6% in Q1 2026, down 6.9% from Q4 2025 but still above the national rate of 41.8%. More than half of all active listings are offering some form of incentive, giving renter clients significant negotiating power on move-in costs and fees.

Days on market came in at 22 days overall, with single-family at 20 days and multi-family at 25 days. That represents a 26.7% improvement quarter-over-quarter, which is one of the sharper DOM drops of the markets tracked this quarter. Listings are moving faster than they were at the end of 2025, even as concessions remain elevated. It is worth watching whether that trend continues into Q2.

Market sentiment

Colorado Springs property managers are cautiously optimistic despite the soft rent data.:

• 45% expect rents to increase over the next six months
• 0% expect rents to decrease
• 55% expect rents to remain the same
• 37.1% report fewer applicants than usual, against 0% reporting more

The disconnect between the 45% expecting rent increases and the 37% already seeing fewer applicants is notable. Landlord optimism may be getting ahead of where the market actually is right now.

Rent vs. buy: buying remains more expensive

Despite softening rents, owning in Colorado Springs still costs meaningfully more than renting. The monthly cost of owning a median-priced home ($495,000 list price as of March 2026) comes to approximately $3,123 per month, compared to a 3-bedroom median rent of $2,050. That is a gap of $1,073 per month in favor of renting, down from $1,348 a year ago but still one of the wider gaps of the markets Rental Beast tracks.

Calculations use Q1 2026 rents and a mortgage with 20% down, a 6.2% interest rate, taxes, and insurance to show the cost of renting versus buying.

What Colorado Springs agents should do this quarter

• Negotiate aggressively on concessions. At 56.6%, more than half of listings are offering incentives. Renter clients should be pushing for free rent, waived application fees, or reduced deposits on nearly every application. The leverage is there.
• Use the rent-vs-buy gap to keep renters informed, not pressured. At $1,073/month, buying remains significantly more expensive than renting in Colorado Springs. This is not yet a market where the buy conversation is urgent. Help clients understand the math and plan accordingly.
• Watch the DOM trend. The 26.7% drop in days on market this quarter is the one signal pointing toward a tightening market. If that continues into Q2, the window for renter leverage may start to close. Keep an eye on it and be ready to adjust your approach.

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Methodology

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.

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 2026 with rental building and community managers and property managers. Questions and answer choices:

• Q1. Do you expect rent prices to increase, remain the same or decrease over the next 6 months? [Possible answers: Remain the same, increase, decrease]
• Q2. Do you believe you are currently getting more, about the same or fewer applicants for your available rentals? [Possible answers: About the same, more, fewer]

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.

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