Rent vs buy in Colorado Springs, CO
Colorado Springs, Colorado has a typical rent of $1,717 /mo and a typical home value of $439,542.
Renting saves $17k over 7 years
Based on 20% down and today's mortgage rate, this comparison uses the typical rent and home value in Colorado Springs's market. You reach the break-even point in year 9.
An opinion that is clearly labeled and shows the math. These are estimates, not quotes. Change one number, and the stamp will change.
- Renting leads by
- $17k after 7 years
- Break-even point
- year 9 when owning catches up
- Actual cost of owning
- $3,668 /mo year 1, against $1,717 rent
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The stamp relies on the home value and typical rent for Colorado Springs's market. Your years, rent and price can flip it.
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Is it cheaper to rent or buy in Colorado Springs?
Over 7 years, renting costs $16,585 less after counting the money you get back when you sell. For the first 8 years, renting costs less. By year 9, owning catches up.
The renting option. The owning option. Your net cost by year so far.
Comparing average rent and mortgage payments in Colorado Springs
At Colorado Springs's typical price, here's every monthly expense for year 1. Rent and mortgage payments aren't the whole cost.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,717 | All of it, every month |
| Mortgage payment | $2,396 | $2,112 of it is interest in year 1 |
| Property tax | $143 | 0.39% of the value a year |
| Insurance | $149 | Census median for the city |
| Upkeep | $366 | 1% of the value a year |
| Owning, cash out | $3,055 | $284 of it builds equity |
| Lost return on the down payment | $714 | At an annual rate of 8.3%, this is what cash would earn. |
| Buying costs, spread out | $183 | 3.5% of the price over 7 years |
| True cost of owning | $3,668 | Cash out, minus the equity portion, plus the two lines above |
The figures behind Colorado Springs's result
- Typical home valueZillow ZHVI, September 2026
- $439,542
- Typical rentZillow ZORI, September 2026
- $1,717 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Colorado, 1995 to 2025
- 5.2% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Colorado Springs
- 0.39% of value
- Home insuranceCensus ACS 2020-2024, Colorado Springs
- $149 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What would flip the result in Colorado Springs?
Each line shows where Colorado Springs's 7-year result changes, while all other factors stay the same.
Renting is the better choice when
- Home prices increase at a yearly rate below 5.6%. We use 5.2%, which is Colorado's long-run rate.
- This condition holds when the mortgage rate remains above 6.57%.
- For a comparable home, monthly rent is below $1,890. Here, the typical rent is $1,717.
- Your move comes before year 9.
Buying is the better choice when
- Home prices increase by more than 5.6% each year.
- A mortgage rate below 6.57% is the one you lock in; today's rate is 7.24%.
- Monthly rent for the same home would need to exceed $1,890.
- You stay for 9 years or longer.
How Colorado Springs compares with 812 other cities
| Measure | Colorado Springs | Median city |
|---|---|---|
| Typical home value | $439,542 | $422,451 |
| Typical rent | $1,717 /mo | $1,837 /mo |
| Price-to-rent ratio | 21.3 (#276 of 813) | 18.5 |
| Home prices, last 10 years | 5.6% a year | 6.2% a year |
| Rents, last 5 years | 2.1% a year | 4% a year |
| Property tax | 0.39% | 0.87% |
| Households that rent | 39% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Cities in Colorado besides Colorado Springs
- Rent. Renting in Denver, CO wins by $37k.
- Rent. Renting in Aurora, CO wins by $22k.
- Rent. Renting in Arvada, CO wins by $47k.
- Buy. Buying in Pueblo, CO wins by $5k.
- Rent. Renting in Boulder, CO wins by $147k.