Low Income Apartments and Affordable Housing For Rent in Colorado Springs, CO

Discover affordable housing in Colorado Springs where there are 57+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Greenway Flats

31 West Las Vegas Street, Colorado Springs, Colorado 80903

Colorado Springs

1087 Westmoreland Rd, Colorado Springs, Colorado 80907

Tamarac Senior Apartments

700 W Cheyenne Rd, Colorado Springs, Colorado 80906

Stetson Meadows Apartments

4495 Tutt Blvd, Colorado Springs, Colorado 80922

Colorado Springs

1462 E Fountain Blvd, Colorado Springs, Colorado 80910

Wyndam Place Senior Residences

725 S Weber St, Colorado Springs, Colorado 80903

Hillside Pointe Apartments

1045 S Institute St, Colorado Springs, Colorado 80903

Constitution Square Apartments

7230 Constitution Square Hts, Colorado Springs, Colorado 80915

Lynmar Apartments

2750 Vickers Dr, Colorado Springs, Colorado 80918

Pikes Peak Towers

1912 Eastlake Blvd, Colorado Springs, Colorado 80910

Freedom Springs

734 Western Drive, Colorado Springs, Colorado 80915

The Commons

3745 Marion Dr, Colorado Springs, Colorado 80909

Sandcreek Apartments

1940 S Chelton Rd, Colorado Springs, Colorado 80916

Green Valley Apartments

1960 S Chelton Rd, Colorado Springs, Colorado 80916

Gpr Llc

549 W Dale St, Colorado Springs, Colorado 80905

H3hom03053c Rmclt Acq

21 S Wahsatch Ave, Colorado Springs, Colorado 80903

El Dorado Apartments

3963 E Bijou St, Colorado Springs, Colorado 80909

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Colorado Springs, Colorado
$18.42 (+128%) more than Colorado minimum wage and $25.59 (+353%) more than the Federal minimum wage.
Learn More About Colorado Springs, Colorado Affordable Housing ↓

What HUD offices serve Colorado Springs, Colorado?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Moderate Rehabilitation programs for Colorado Springs, Colorado.

Go to the Colorado Public Housing and Low-Income Apartments Waiting Lists page for openings near Colorado Springs.

How many renters live in Colorado Springs, Colorado?

The City of Colorado Springs has 486,228 people living in 206,648 households.

There are 174,842 renters living in 83,672 renter households in this City. Renters make up 35.96 percent of the population living in Colorado Springs.

What is the rental market like in Colorado Springs, Colorado?

There are an estimated 213,240 housing units in the Colorado Springs area. Of these, 85,944 units are rental homes, making up 40 percent of the housing market. For every renter household in Colorado Springs, Colorado, there are 1 rental units.

What is the vacancy rate for rentals in Colorado Springs?

The rental vacancy rate in Colorado Springs is 2 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Colorado Springs for each bedroom size?

Occupied Rental Units by Size in Colorado Springs
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
4,246 22,138 32,548 15,462 6,276
Occupied Rental Units by Size in Colorado Springs

A large number of apartments in Colorado Springs have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Colorado Springs are overburdened by housing costs?

Among renter households in this market, 54 percent have housing cost burden. Further, 26 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Colorado Springs

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,190 to $2,875. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,190
One BR $1,408
Two BR $1,734
Three BR $2,444
Four BR $2,875
2024 Fair Market Rents in Colorado Springs, Colorado

How many units are rented at Fair Market Rent (FMR) in Colorado Springs?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 2,053 48 percent
One BR 13,252 60 percent
Two BR 16,031 49 percent
Rental Units Below FMR in Colorado Springs, Colorado

How many affordable rental units are in Colorado Springs?

There are a variety of federal affordable housing programs serving households in Colorado Springs, Colorado including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 3,029
Public Housing 702
Section 8 Project-Based Rental Assistance 740
Mod Rehab Project-Based Rental Assistance 37
Section 202 Supportive Housing for the Elderly 150
Tracked Units by Federal Program in Colorado Springs, Colorado

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Colorado Springs, Colorado

Colorado Springs features 1,539 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Colorado Springs, Colorado

There are 3,160 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Colorado Springs.

Housing Choice Vouchers in Colorado Springs, Colorado

On average, Section 8 Housing Choice vouchers pay Colorado Springs landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Colorado Springs.

The maximum amount a voucher would pay on behalf of a low-income tenant in Colorado Springs, Colorado for a two-bedroom apartment is between $1,561 and $1,907.

Sourced from federal housing data and AffordableHousingOnline.com research.