Sell Your Commercial Property Fast In Colorado Springs, CO

Who rents in Colorado Springs, CO

Renters occupy 39.1% of Colorado Springs' 202,515 occupied housing units, per the Census Bureau's 2020-2024 American Community Survey. El Paso County's renter share is 33.8%, and Colorado's is also 33.8% in that survey. Colorado Springs holds 79,251 renter households, or 80.9% of every renter household in El Paso County.

Colorado Springs had a population of 487,887 in the 2020-2024 American Community Survey, against 742,999 in El Paso County. Three federal installations anchor the tenant base. Fort Carson employed 29,500 people in 2024, the county's largest employer at 8.06% of El Paso County employment, per the county's 2024 Annual Comprehensive Financial Report.

Peterson, Schriever and Cheyenne Mountain employed 16,400 people in 2024, and the United States Air Force Academy employed 9,200, per that same county report. The Academy enrolls more than 4,000 cadets. Those three payrolls equal 15.0% of El Paso County's 366,221 jobs, so renewal demand in Security-Widefield and Fountain follows military rotation dates.

Rents and affordability in Colorado Springs

Median gross rent in Colorado Springs was $1,648 a month in the 2020-2024 American Community Survey. El Paso County's median was $1,696 and Colorado's was $1,761 in that survey. Median household income in Colorado Springs was $84,818, against $90,363 countywide and $95,470 statewide.

Colorado Springs renters paying 30% or more of income on rent total 54.3%, per the 2020-2024 American Community Survey. Renters paying 50% or more total 25.6%. Both shares rest on the 77,026 Colorado Springs renter households for which the Census Bureau reports a rent-to-income ratio.

As of HUD's FY2027 fair market rents, the two-bedroom standard for El Paso County is $1,621 a month. El Paso County sits in the Colorado Springs, CO HUD Metro FMR Area, which HUD reports separately from neighboring Teller County.

That FY2027 two-bedroom standard of $1,621 sits just under the $1,648 all-unit median gross rent in Colorado Springs. Voucher income competes closely with market rent in older Colorado Springs buildings.

Colorado Springs apartment stock and building age

Colorado Springs has 49,038 housing units in buildings of five or more units, 23.2% of its 211,353 total units, per the 2020-2024 American Community Survey. That share is 17.4% across El Paso County and 22.6% across Colorado.

Colorado Springs holds 10,226 units in 5-to-9-unit buildings and 14,364 units in 10-to-19-unit buildings. Buildings of 20 to 49 units hold 13,868 units, and buildings of 50 or more hold 10,580. Another 12,386 Colorado Springs units sit in 2-to-4-unit properties, the tier apartment buyers in Colorado Springs price next to walk-up fiveplexes.

The median Colorado Springs housing unit was built in 1986, against 1989 in El Paso County and 1988 across Colorado. Units built before 1980 make up 39.4% of the city's stock, or 83,375 units. Units built in 2010 or later number 32,929, including 7,011 finished in 2020 or later.

The rental vacancy rate in Colorado Springs was 3.8% in the 2020-2024 American Community Survey, against 3.9% in El Paso County and 5.1% across Colorado. For owners who sell commercial real estate in Colorado Springs, CO, a 1986 median build year moves the capex question from structure to systems: original furnaces, water heaters, flat-roof membranes and 1980s supply lines.

Property taxes on El Paso County apartment buildings

El Paso County assessed residential and multi-family property at 6.8% of actual value for local-government levies in 2026, per the El Paso County Assessor. The Colorado Division of Property Taxation applies that 6.8% after a reduction of 10% of actual value, capped at the first $700,000, with a $1,000 minimum assessed value. School district levies use 7.05% of actual value in 2026.

Those rates come from statute rather than a formula. Senate Concurrent Resolution 20-001 referred repeal of the Gallagher Amendment, which had pegged the residential rate, then 7.15%, to statewide nonresidential value. House Bill 24B-1001, signed September 4, 2024, set the 6.8% and 7.05% figures now in use.

For tax year 2025, billed in 2026, El Paso County levied 6.857 mills, the City of Colorado Springs 3.009 mills, the Pikes Peak Library District 2.938 mills and Colorado Springs School District 11 37.695 mills. Those four levies total 50.499 mills, and metro or special districts add more parcel by parcel.

On a $2 million building, the 2026 rates give $131,240 of assessed value for the three non-school levies and $141,000 for School District 11. At tax year 2025 levies that is about $6,996 a year. Colorado revalues real property every odd-numbered year, and 2025-2026 residential values rest on sales from January 1, 2023 through June 30, 2024. Colorado's documentary fee runs one cent per $100 of consideration, so a $2 million deed costs $200 to record. Anyone getting ready to sell commercial property in Colorado Springs, CO should pull the tax entity list from the latest El Paso County statement.

Landlord rules in Colorado Springs and Colorado

Colorado bars local rent control outright. C.R.S. 38-12-301 declares rent control on private residential housing a matter of statewide concern and prohibits any county or municipality from enacting an ordinance that controls rent. Colorado Springs therefore has no rent cap of its own.

Security deposits in Colorado cannot exceed two months' rent, under C.R.S. 38-12-102.5, in force since August 7, 2023. C.R.S. 38-12-103 requires return within one month of lease termination, or up to 60 days when the lease says so, and a landlord who misses the written-statement deadline forfeits the right to withhold any of it.

Nonpayment takes a 10-day written demand for rent or possession under C.R.S. 13-40-104(1)(d). For covered residential tenancies, C.R.S. 38-12-1303 requires cause before a landlord serves a notice to terminate. C.R.S. 13-40-107, rewritten by House Bill 24-1098 in 2024, sets 91 days' notice for a tenancy of a year or longer and 21 days for a month-to-month tenancy.

What this means if you own a building in Colorado Springs

Colorado Springs pays owners who can document rent history and systems age. No state or city rent cap discounts your rent roll, so a buyer underwrites it against the $1,648 city median gross rent and HUD's $1,621 two-bedroom FY2027 standard. The 1986 median build year sets the reserve line.

Run the numbers yourself with our cap rate calculator, then read how Colorado Springs apartment property taxes work before you set a price. If you want to sell commercial property in Colorado Springs, CO, or sell your apartment building in Colorado Springs without a listing, our seller page shows how we buy. We also look in Old Colorado City and Southeast Colorado Springs.