The apartment rents down in Colorado Springs for the first time in a decade in Colorado Springs

Colorado Springs, Colorado (Krdo) – A new study by Apartment Insights shows that the price of apartments in Colorado Springs is tending for the first time in a decade.

“It's a really good time for tenants,” says Doug Carter, co -owner of Apartment Insights.

Carter tells Krdo13 examined An influx of new apartments has led at lower prices. It's as easy as supply and demand.

“Especially because of all the construction that we see everywhere. It is always supply and demand. And there was a lot of construction. This year, many apartments are still being completed, which is a good sign for tenants,” said Carter.

Carter says that the supply finally catches up with demand. This diagram (above above) shows that the rental prices in Colorado Springs have dropped from its climax of around 1,500 US dollars in the middle of 2022.

The average rental price is currently $ 1,375, about 57 USD cheaper than in the same time last year. In the course of a year, this would save a tenant around 684 US dollars.

A big reason for this drop in price and why Carter is good for tenants for the rest of the year is a vacancy rate of 13.5% for all rentable apartments.

Despite the high vacancy rate, however, the residential units fly from the shelves.

“More apartments were rented in the last quarter than we have ever seen,” he says.

In the first three months of the 2025, 816 people rented new apartments. The extension of the circumference to 12 months was rented 3,671 new apartments, an all -time high.

While Carter expects the rest of the year to be a blessing for the tenants, the further distant future is still somewhat uncertain. “For the rest of this year, it is a good time for tenants. This makes it a good time for the tenants for everyone. It is currently difficult with the economy. It is really difficult to know. But at least at the moment, tenants will receive a certain relief,” said Carter.