Rent vs Buy in Colorado Springs, CO
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Colorado Springs, CO
Price-to-rent ratio is 21.1 (under 15 favors buying, over 21 favors renting). Renting costs $1,778/mo; owning runs about $3,328/mo — $1,550/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.80% rate) | $2,351 |
| Property tax | $413 |
| Home insurance | $188 |
| Maintenance | $376 |
| Total to own | $3,328 |
| Average 2BR rent | $1,778 |
Based on a median home value of $450,850 with a $90,170 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.