Where Colorado Springs, CO’s new apartments are being built

The past ten years have seen a surge in development within the Colorado Springs metro area, with builders delivering upwards of 16,400 new apartments. Understanding where these developments are concentrated can help apartment hunters find the ideal balance of location, value, and lifestyle fit as they navigate this rapidly expanding market.

Where should you start your apartment search in Colorado Springs?

Living in Colorado Springs offers a unique balance between the rugged energy of a mountain town and the amenities of a growing tech and military hub. The cost of living here is about 3% lower than the Colorado state average and 2% higher than the national average, making it a more affordable entry point to the Front Range lifestyle.

Here’s what you need to know about the neighborhoods where apartments are being built.

2,091 new apartments put zip code 80921 at the top of the construction list

Zip code 80921 added 2,091 new apartments, making it the most active area for residential development. Located in the northeast along the Powers Boulevard corridor, this area has transformed from rangeland into a bustling suburban hub.

While the neighborhood is primarily car-dependent with limited public transit, it offers excellent access to major shopping centers and retail. Major employers reachable from this zip code include Schriever Space Force Base, Peterson Space Force Base, and the corporate business parks along InterQuest Parkway. Residents enjoy being close to the northern edge of the city, with downtown reachable in about 20–30 minutes.

Zip code 80903 added 2,062 new apartments

Zip code 80903 gained 2,062 new apartments, reflecting a massive urban renaissance in the city’s historic core. This area includes the Tejon Street corridor and the Arts District, placing renters in a walkable environment filled with local breweries and galleries. Transit options include the Mountain Metro Transit system at the downtown terminal and several regional bike trails, such as the Midland Trail.

Nearby job centers include government offices in the City-County Building, Memorial Hospital, and various tech startups. This zip code allows many residents to work where they live, with most city destinations accessible within a short 15-minute commute.

1,560 new apartments expand housing options in zip code 80924

Zip code 80924 added 1,560 new apartments, marking a significant investment in the city’s east side. Situated between Academy and Powers Boulevards, this area offers a middle ground between suburban expansion and the urban center.

While residents rely mostly on personal vehicles, several Mountain Metro bus routes serve the area, providing connections to the wider metro. The location is highly strategic for those working at Peterson Space Force Base or Schriever Space Force Base. Additionally, the Academy Boulevard commercial corridor provides a wealth of retail and hospitality jobs, with most commutes staying under 25 minutes.

Zip code 80916 delivers 1,517 new apartments

Zip code 80916 added 1,517 new apartments, continuing development in an established area between downtown and the city’s southern military installations. This zip code is particularly popular with military families due to its proximity to Fort Carson.

Transit access is supported by Mountain Metro bus service along Academy Boulevard, though car ownership remains the primary way to get around. Major employers include the Fort Carson Army post, The Citadel Mall retail hub, and various medical facilities. Its central location ensures that both downtown and the southern employment centers are reachable in roughly 15–20 minutes.

1,506 new apartments grow zip code 80923’s inventory

Zip code 80923 added 1,506 new apartments, reinforcing its position as a highly desirable northeast residential hub. This area surrounds the Chapel Hills Mall and features a mix of established suburban comfort and new construction. While car-dependent, residents have access to the New Santa Fe Regional Trail for recreation and some Mountain Metro bus service along Academy Boulevard.

Employment opportunities are diverse, with the Air Force Academy to the north and the InterQuest business area nearby, which houses numerous tech companies. University and corporate offices remain accessible within a 15–20 minute drive for most residents.

Top 5 zip codes for new apartments in Colorado Springs, CO

* Total new apartments completed between 2015 and 2025.

Source:
RentCafe.com analysis of Yardi data as of July 2025

The rental market in Colorado Springs remains resilient as steady military expansion and a growing tech sector continue to drive multifamily performance. Development has concentrated in submarkets that offer a mix of suburban convenience and urban walkability, supporting long-term renter interest.

While a significant amount of new supply has entered the pipeline, consistent demand from the aerospace and defense sectors has kept the market balanced. Ongoing economic diversification and an influx of remote workers continue to reinforce the city’s position as one of the most stable and dynamic rental markets in the Rocky Mountain region.

Methodology

RentCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the U.S.

This study uses data from 2015–2025, with the ‘past decade’ referring to this period.