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Should I Buy or Rent in Colorado Springs in 2026?

If you’re wondering whether it’s better to buy or rent a home in Colorado Springs in 2026, you’re not alone. The right choice depends on your finances, lifestyle, and long-term goals.

Buying May Be the Better Choice If…

Buying a home can be a smart investment if you plan to stay in the Colorado Springs area for several years. Homeownership allows you to build equity instead of paying rent each month, and a fixed-rate mortgage can provide more predictable housing costs over time. You’ll also have the freedom to personalize your home without needing a landlord’s approval.

Buying may be right for you if you:

• Plan to stay in the area for at least 3–5 years.
• Want to build long-term wealth through homeownership.
• Value stability and the ability to make your house your own.
• Note: There a little to no down payment loans available if you are short on cash

Renting May Be the Better Choice If…

Renting offers flexibility and requires less upfront money. If you’re new to Colorado Springs, expecting a job change, or aren’t ready for the responsibilities of homeownership, renting may be the better option.

Renting may be best if you:

• Expect to move within the next few years.
• Prefer lower maintenance responsibilities.
• Need more time to improve your credit or save for a down payment.
• Want flexibility while exploring different neighborhoods.

Consider the Total Cost

When comparing buying and renting, look beyond the monthly payment. Buyers should also consider property taxes, homeowners insurance, maintenance, and HOA dues if applicable. Renters should remember that rent can increase over time and doesn’t build equity. A fixed rate mortgage PI payment remains the same for the life of the loan.

The Colorado Springs Market

Colorado Springs continues to attract military families, professionals, retirees, and outdoor enthusiasts. With strong demand and a diverse housing market, buyers and renters have many options, but understanding current market conditions is essential before making a decision.

Need Help Deciding?

Every situation is different. Whether you’re buying your first home, relocating, or deciding if now is the right time to purchase, having local guidance can make the process much easier.

As a Colorado Springs real estate broker with more than 36 years of experience, I help buyers understand their options and make informed decisions based on their goals—not sales pressure.

Have questions about buying or renting in Colorado Springs? Contact Luther Benson for a personalized consultation and expert advice tailored to your needs.

Market Update for July 2026
 Sales and Prices down slightly

There are currently 4317 active single-family listings on the market in the Pikes Peak region compared to 4227 last year at this time which is a 2.1% increase in active listings.

 The average sales price is down 1% to $568,633 compared to July 2025 and was down 1.6% compared to the month prior. The median price (same number of homes sold above and below that price) is down .5% to $494,950.

Sales were down in July by 1.4% for a total of 1136 homes that closed in the Pikes Peak region, compared to 1229 last July. New listings on the market are up 3.7%. There is a 3.8 month supply of homes on the market.

The average days on market before a home sells is 48.

There are 770 condo/townhomes on the market compared to 711 last year at this time, which is an 8.3% increase. The average price for Condo/townhomes is down 16.4% and the median price is down 10.3%. The median condo/townhome price is now $305,000.

Condo/Townhome sales are up .7%. New listings on the market are down 11.8% compared to last year in July.

Cumulative year to date single family sales are up 1.1% and the average price is down .9% comparing last year, first 7 months to this year, first 7 months.

See the charts below for more details.

Market Update for June 2026
Sales and Prices Up Again

There are currently 4039 active single-family listings on the market in the Pikes Peak region compared to 4055 last year at this time which is a .4% decrease in active listings.

The average sales price is up 1.2% to $577,638 compared to June 2025 and was up .1% compared to the month prior. The median price (same number of homes sold above and below that price) is on par at $499,900. Prices have risen consistently for the last 4 months.
Sales were up in June by 2.7% for a total of 1229 homes that closed in the Pikes Peak region, compared to 1197 last June. New listings on the market were down .6%. There is a 3.3 month supply of homes on the market.

There are 764 condo/townhomes on the market compared to 673 last year at this time, which is an 13.5% increase. The average price for Condo/townhomes is up .4% and the median price is down 1.5%. The median condo/townhome price is now $325,000.
Condo/Townhome sales are up 2.1%. New listings on the market were up 16% compared to last year in June.

Cumulative year to date single family sales are up 1.6% and the average price is down .9% comparing last year, first 6 months to this year, first 6 months.

See the charts below for more details.

Many people are afraid to buy because they feel if they sell their home first, they won't find what they want. The market is shifting but there are ways to combat the higher interest rates with other strategies. Many builders are offering HUGE incentives to buy their standing inventory (remember not to go into the builder's model without me). Call me for a free consultation to learn more. 719-310-2404

Market Update for May 2026

Sales and Prices Up Again

 There are currently 3665 active single-family listings on the market in the Pikes Peak region compared to 3671 last year at this time which is a .1% decrease in active listings.

The average sales price is up 1.9% to $577,202 compared to May 2025 and was up 3.4% compared to the month prior. The median price (same number of homes sold above and below that price) is up 2% to $499,952. Prices have risen consistently for the last 3 months.

Sales were up in May by 7.3% for a total of 1251 homes that closed in the Pikes Peak region, compared to 1166 last May. New listings on the market were down 12.9%. There is a 2.9 month supply of homes on the market.

There are 726 condo/townhomes on the market compared to 629 last year at this time, which is an 15.4% increase. The average price for Condo/townhomes is down 5.7% and the median price is down 1%. The median condo/townhome price is now $337,500.

Condo/Townhome sales are down 13.3%. New listings on the market were down 5.9% compared to last year in May.

Cumulative year to date single family sales are up 1.3% and the average price is down 1.5% comparing last year, first 5 months to this year, first 5 months.

Many people are afraid to buy because they feel if they sell their home first, they won't find what they want. The market is shifting but there are ways to combat the higher interest rates with other strategies. Many builders are offering HUGE incentives to buy their standing inventory (remember not to go into the builder's model without me). Call me for a free consultation to learn more. 719-310-2404

See the charts below for more details. 

Market Update for April 2026

Sales and Prices Up

There are currently 3422 active single-family listings on the market in the Pikes Peak region compared to 3117 last year at this time which is a 9.8% increase in active listings.
The average sales price was down by 2.1% to $558,220 compared to April 2025 but was up 3.4% compared to last month. Prices have risen consistently for the last 2 months, for an increase of 6%. Sales were up in April by 1.6% for a total of 1124 homes that closed in the Pikes Peak region, compared to 1106 last April. New listings on the market was up .9%. There is a 3 month supply of homes on the market.

There are 704 condo/townhomes on the market compared to 596 last year at this time, which is an 18.1% increase. The average price for Condo/townhomes is down .1% and the median price is down 4.3%. The median condo/townhome price is now $335,000.
Condo/Townhome sales are down 1.3%. New listings on the market were up 1.6% compared to last year in April.

Cumulative year to date sales are down .6% and the average price is down 2.8% comparing last year, first 4 months to this year, first 4 months.

See the charts below for more details.

Market Update for March 2026
Sales and prices mixed

There are currently 3057 active single-family listings on the market in the Pikes Peak region compared to 2629 last year at this time which is a 16.3% increase in active listings.
The average sales price was down by 2.2% to $539,720 compared to March 2025 and was Up 2.9% compared to March 2026. Sales were down in March by 2.2% for a total of 1036 homes that closed in the Pikes Peak region, compared to 1059 last March. Sales were up, however, from March this year by 34% which is hopefully a trend that will continue.

There are 617 condo/townhomes on the market compared to 535 last year at this time, which is a 15.3% increase. The average price for Condo/townhomes is down 10.3% and the median price is down 14.5%. The median condo/townhome price is now $312,000.
 Condo/Townhome sales are down 7.7%. New listings on the market were up 6.3% compared to last year in March.

See the charts below for more details

Market Update for February 2026
Sales up and prices down

There are currently 2926 active single-family listings on the market in the Pikes Peak region compared to 2425 last year at this time which is a 20.7% increase in active listings.
The average sales price was down by 3.6% to $524,494 compared to February 2025 and was down 1.1% compared to January 2026. With rates at 4 year lows and prices easing sales were up in February 5.9% for a total of 773 homes that closed in the Pikes Peak region, compared to 730 last February.

There are 575 condo/townhomes on the market compared to 494 last year at this time, which is a 16.4% decrease. The average price for Condo/townhomes is up 3.7% and the median price is on par. The median condo/townhome price is now $325,000.
Condo/Townhome sales are down 5.1%. New listings on the market were up 15.7% compared to last year in February.

Conforming 30 year fixed mortgage rates are now in the high 5s and government loans in the low 5's.

Market Update for January 2026
Sales down and prices mixed
There are currently 2843 active single-family listings on the market in the Pikes Peak region compared to 2514 last year at this time which is a 13.1% increase in active listings.
The average sales price was down by .9% to $543,847 compared to January 2025 and was up 2.3% compared to December 2025. Sales were down in January by 8.5% for a total of 637 homes that closed in the Pikes Peak region, compared to 696 last January.

There are 535 condo/townhomes on the market compared to 505 last year at this time, which is a 5.9% decrease. The average price for Condo/townhomes is down 10.1% and the median price is down 11.8%. The median condo/townhome price is now $300,000.
Condo/Townhome sales are down 20.7%. New listings on the market are on par compared to last year in January.

New listings on the market were up 4.2% compared to last January.

Conforming 30 year fixed mortgage rates are now in the low 6's and government loans in the high 5's.

The median single family sales price was down 2.6% compared to January 2025 (same number of homes sold above as below) and is now $469,950. There is a 4.5 month supply of homes on the market.

The average days on market is currently 74 days.