Between April and June, 363 homes were leased across the Pikes Peak MLS. That is a big enough sample to say something concrete about where the local rental market is heading. Here is what three months of leased data actually shows.
| Month | Leases | Median rent | Rent / sq ft | Median days to lease | Single-family share |
|---|---|---|---|---|---|
| April | 106 | $2,100 | $1.47 | 6 | 60% |
| May | 107 | $2,300 | $1.32 | 14 | 62% |
| June | 145 | $2,323 | $1.16 | 20 | 66% |
April and May were nearly identical at 106 and 107 leases. June jumped to 145, a 36% increase. No surprise there. Summer is moving season in a military town, and leasing follows the PCS calendar. The question is not whether volume rises in summer. It is what landlords are actually getting for it.
Median rent went from $2,100 in April to $2,300 in May, a 9.5% jump. Then June essentially stalled at $2,323. So the spring bump arrived early and the momentum ran out heading into the busiest month of the three.
But the headline hides a mix shift. Look at rent per square foot: it fell every single month, from $1.47 to $1.32 to $1.16. Median rent went up while the price of each square foot went down. That is what happens when bigger homes make up more of the pool. Single-family homes climbed from 60% to 66% of leases, and four and five bedroom leases surged in June. The rent increase is being carried by larger homes, not by landlords getting more for the same space.
This is the number that matters. Median days on market went from 6 days in April, to 14 in May, to 20 in June. Time to lease more than tripled in a single quarter.
Rising volume alongside rising time-on-market is not a tightening market. It is a market absorbing more supply. Break rent down by bedroom count and the bread-and-butter units tell the same story: two and three bedroom rents both peaked in May and eased in June, even as the four bedroom and larger segment kept climbing.
| Median rent | 2 bed | 3 bed | 4 bed | 5 bed |
|---|---|---|---|---|
| April | $1,550 | $2,125 | $2,500 | $2,600 |
| May | $1,730 | $2,300 | $2,600 | $2,900 |
| June | $1,616 | $2,273 | $2,748 | $3,150 |
If you read only the headline median, you would think the market is hot. Look one layer down and it is loosening, not tightening. More homes are leasing, but they are sitting longer, and the typical dollar of rent is buying more space than it did in April.
There is a structural reason to expect this to keep going. Homes that do not sell in a slow sales market often become rentals. Every month that for-sale inventory stays elevated, the rental pool grows. More competing supply is exactly what longer time-to-lease and softer per-foot pricing look like in the data.
So the questions worth asking: Is your rent priced to the market of three months ago, or to today? Can you absorb three weeks of vacancy instead of one? A unit that leased in six days had room to ask for more. A unit taking twenty days is telling you something.
None of this means owning a rental in Colorado Springs is a bad idea. It means the market right now rewards competitive pricing and low vacancy over squeezing out the last hundred dollars a month. A unit occupied at $2,000 beats a unit vacant at $2,200.
Source: Pikes Peak MLS leased listings, April 1 to June 30, 2026 (363 leases). Rent is the list price on the lease record. Days to lease is measured from listing date to off-market date. June figures may rise modestly as late lease entries report. Nothing here should be construed as legal or financial advice.
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