Colorado Springs Investment Property for Sale - 2023 Rental Home Appreciation
The residents of the Colorado Springs area enjoy great weather year-round with access to various outdoor activities unique to the region. Breathtaking scenic views, rock formations, and other unique attractions like Seven Falls and Cave of the Winds have tourists, real estate investors, and residents clamoring for Colorado Springs's natural beauty.
Colorado Springs is expected to be at the top of the real estate market again this year, and new construction on homes will continue to supply at least 4,000 new homes. Fierce competition in multi-family and single-family homes has continued to press the rental market upward, creating a unique niche for long-term Airbnb rentals. Colorado Springs real estate investment opportunities are hot and may only become hotter!
Colorado Springs's Attractive Housing Market
Whether you're trying to find your first investment property or your 100th, Colorado Springs offers a wide variety of homes for sale – from condos, townhomes, multi-family homes, and single-family homes. Colorado Springs is a dream for lenders, realtors, and real estate investors!
Home prices are expected to continue to increase in Colorado Springs, but it is still a buyer's market, and that's because El Paso County is full of excellent areas in which to live.
Below are some of the most sought-after areas for rental properties near Colorado Springs:
- Woodland Park- Stay away from the big city life with everything you need: restaurants, parks, and incredible views. Plus, home values in this area have continued to rise.
- Manitou Springs- In this resort town just outside the city, homes are built into the mountainside, making each unique. As mentioned on Payscale, utilities, gas prices, and public transit costs are below the national average.
- Fountain- "America the Beautiful" was written after viewing this small town from the top of Pikes Peak.
- Monument- Located in El Paso County, this Colorado Springs area is the perfect mix of suburbs and rural living. Many young professionals are proud to call this area on the outskirts of Colorado Springs home since there are plenty of parks and playgrounds.
Rental Home Appreciation in Colorado Springs
Colorado real estate investments hold great value, as many trade cramped apartments in Denver for spacious homes in Colorado Springs. The average square footage of a home in this area is over 1,500 sq ft, offering families, young professionals, and new home buyers plenty of room. Here are other reasons renters flock to downtown Colorado Springs and the surrounding areas.
- Entertainment experiences are aplenty. Old Colorado City is a historic district full of dining, shopping, and entertainment. Peyton Manning fans love to visit the Colorado Sports Hall of Fame at Mile High Field, a short drive from Colorado Springs.
- One way to find real estate more likely to maintain its value is to buy near an excellent school district. Colorado Spring's schools are often at the top of the United States' best schools list. Military families love the area because it's close to Fort Carson too!
- Beautiful views are abundant in Colorado Springs. One of the most famous mountains in the United States, Pikes Peak, is located just west of the area, and you can even drive your car to the summit of the mountain.
An investment property is a perfect way to get your slice of rental income in this hot market.
Economic Growth in Colorado Springs
The military, government agencies, health care, and construction industries have pressed salaries upward throughout the Colorado Springs area. Some of the large businesses in the area are Infinity Systems Engineering, Vectrus, and US Olympic Entertainment. The business growth has allowed unemployment to drop year after year steadily.
Just south of Colorado Springs is the small town of Pueblo, known as one of the largest steel producers in the United States. While rent rates across the state are generally rising, the cost of living in this area is shockingly low. This means that investors can find their perfect first or next property at any price range, rental income goal amount, or market value threshold.
If you are looking for a rental property in Colorado Springs, remember that with Arrived, you have no property management responsibility. A local real estate investment property offers the potential for steady cash flow, even as a first-time real estate investor with no experience.
Arrived is ready to help you access the rental market
Arrived and Colorado Springs, Colorado, have a lot to offer to renters, homeowners, and real estate investors - click here for more information.