Colorado Springs' Multifamily Occupancy Climbs to Near 4-Year High
Colorado Springs multifamily fundamentals are strengthening as new supply takes a dip, according to first-half findings from a market report by CBRE.
Most notably, occupancy shot up by 150 basis points at the conclusion of the second quarter to 94.4 percent versus the end of 2025. This is the best rate that multifamily landlords in Colorado Springs have seen in almost four years. The strongest performance was seen in the North Colorado Springs submarket, where vacancy averaged just 5.2 percent.
That came as demand surged, with net absorption going from 172 units in the second half of 2025 to 1,325 in the first six months of 2026. That amount well exceeded the deliveries of 369 units, which is down from the 840 units at the end of 2025.
Rents tell more of a mixed story. The average price came in at $1,457, which is up 2.3 percent from the end of December but remains down 2.6 percent year-over-year. This tells you rents are in a recovery phase.
Similar rhetoric can be used for investment activity. While sales volume of $82.5 million in the first half came in higher than the previous six months' $22.9 million, activity has "been well below recent historical levels over the past 12 months," according to CBRE.
The largest trade during the first half involved Copper Chase Apartments, which went for $23 million. That was followed by Lincoln Springs Apartments and Newport Square, which went for $14.65 million and $11 million, respectively.
Source: GlobeSt/ALM