Colorado Springs Poised for Further Growth

While falling short of Denver averages, the Colorado Springs multifamily market performance has been very strong and well above the national average for rent growth, according to MPF Research.

In 2015, Q1 occupancy remained solid at 95.6%, while strong rent hikes have increased rents 6.6% year‐over‐year — a seven‐year high.

While occupancy in the metro fluctuates, it tends to stay in a healthy range of 94.0% to 96.0%, while annual rent growth tends to average to around 3.0% to 4.0%. Those metrics are likely sustainable going forward.

Although recent data suggests Colorado Springs should continue to see solid growth in the long term, the city’s reliance on the military does pose a risk — nearly 20% of the workforce is employed by the defense industry.

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