MARKET SNAPSHOT

Colorado Springs q1 2025

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AVERAGE RENT

$1,458 Q1 2025

OCCUPANCY RATE

91.2% Q1 2025

QUARTERLY NET ABSORPTION

911 Q1 2025

ANNUAL RENT CHANGE

-2.5% Q1 2025

ANNUAL OCCUPANCY CHANGE

-80 BPS Q1 2025

QUARTERLY COMPLETIONS

453 Q1 2025

KEY TAKEAWAYS

Demand Outpaces Historical Norms: Net absorption in Q1 2025 reached 911 units—more than triple the 10-year quarterly average of 263—indicating robust renter demand despite broader economic pressures.

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Occupancy & Rent Under Pressure: The average occupancy rate fell to 91.2%, down from the long-term average of 93.8%, while rents declined 2.5% year-over-year. However, signs of supply-side relief suggest conditions may soon begin to stabilize.

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Construction Activity Drops Off: Just 453 units were delivered in Q1 2025—a 45% decline from the previous quarter—while construction starts over the past 12 months totaled only 276 units, signaling a sharp slowdown in development activity.

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