Colorado Springs multifamily investing offers exposure to one of the most recession-resistant employment bases in the country through its military and defense-contractor concentration. Core-plus buyers target new Class A product in Briargate and Northgate, while value-add operators pursue 1980s and 1990s garden inventory in Southeast Colorado Springs and Fountain.

Manufactured Housing Market Overview: Colorado Springs 2026

The Colorado Springs manufactured housing market in 2026 reflects the metro's broader economic momentum, driven by U.S. Air Force Academy, Fort Carson, Peterson Space Force Base, Schriever Space Force Base, NORAD, Lockheed Martin, Northrop Grumman, Boeing, L3Harris, Raytheon, UCHealth, Centura Health, National Cybersecurity Center. Key metrics for manufactured housing investors:

  • Manufactured Housing Vacancy: 5.8%
  • Manufactured Housing Cap Rates: 5.00%-5.75%
  • Metro Rent Growth: 3.2% year-over-year
  • Job Growth: 2.3%
  • Population Growth: 1.3%
  • Median Asking Rent: $1,685

Manufactured Housing Subtypes in Colorado Springs

The Colorado Springs manufactured housing market encompasses a range of property subtypes, each with distinct risk-return profiles and financing requirements:

  • 3-Star Entry-Level Communities
  • 4-Star Mid-Grade Communities
  • 5-Star Class A Communities
  • Age-Restricted 55+ Communities
  • RV Resort Hybrids
  • Tenant-Owned Home Communities (TOH)
  • Land-Lease Only Parks
  • Conversion / Adaptive Reuse Sites

Each subtype has different lender appetite, underwriting criteria, and optimal financing structures. Understanding which subtypes perform best in Colorado Springs's specific market conditions is critical for investment success.

Key Investment Metrics

Manufactured Housing investors evaluating Colorado Springs should focus on these key performance indicators:

  • Cap Rate Spread: Colorado Springs manufactured housing cap rates at 5.00%-5.75% compare favorably to national averages, reflecting the market's premium fundamentals and institutional demand
  • Rent Growth Trajectory: 3.2% annual rent growth supports both value-add and core investment strategies
  • Supply Pipeline: New manufactured housing construction activity should be evaluated relative to the market's absorption capacity
  • Tenant Quality: The Colorado Springs metro's major employment sectors — U.S. Air Force Academy, Fort Carson, Peterson Space Force Base, Schriever Space Force Base, NORAD, Lockheed Martin, Northrop Grumman, Boeing, L3Harris, Raytheon, UCHealth, Centura Health, National Cybersecurity Center — drive manufactured housing tenant demand and creditworthiness

Financing Options for Manufactured Housing in Colorado Springs

Manufactured Housing properties in Colorado Springs can be financed through multiple capital sources, each with distinct advantages:

  • Agency (Fannie Mae MHC, Freddie Mac MHC, MHC SBL)
  • Bank & Credit Union Permanent
  • CMBS Conduit
  • Life Insurance Company Loans
  • Bridge & Value-Add Debt Funds
  • USDA Rural Development

The optimal financing structure depends on your business plan (core hold, value-add, or development), the property's current condition and occupancy, and your desired leverage and hold period. In the Colorado Springs market, lenders are most competitive for well-located assets with strong fundamentals and experienced sponsors.

Top Submarkets for Manufactured Housing Investment

The Colorado Springs metro features several distinct submarkets for manufactured housing investment, each with unique characteristics:

  • Downtown Colorado Springs — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Old Colorado City — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Manitou Springs — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Broadmoor — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Briargate — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Northgate — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Powers Corridor — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Interquest — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • InterPark — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Southeast Colorado Springs — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Monument — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Fountain — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Security-Widefield — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Black Forest — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Cascade — offering distinct opportunities within the broader Colorado Springs manufactured housing market
  • Woodland Park — offering distinct opportunities within the broader Colorado Springs manufactured housing market

The most active investment corridors for manufactured housing in Colorado Springs include Downtown Colorado Springs, Northgate and InterPark Class A office, Briargate retail and multifamily, Powers Corridor industrial, Monument. Submarket selection significantly impacts both returns and financing terms, as lenders evaluate location-specific metrics in their underwriting.

Investment Thesis: Manufactured Housing in Colorado Springs

The investment case for manufactured housing in Colorado Springs rests on several structural factors:

  • Economic Fundamentals: 2.3% job growth and 1.3% population growth create durable demand
  • Market Pricing: Cap rates at 5.00%-5.75% offer institutional-quality assets at competitive yields
  • Financing Environment: The Colorado Springs market's depth and lender familiarity support competitive borrowing costs
  • Growth Potential: 3.2% rent growth supports improving cash flows over the hold period

Colorado Springs is the second-largest city in Colorado and the nation's leading defense and aerospace cluster outside of Washington, DC, anchored by the U.S. Air Force Academy, Fort Carson, Peterson Space Force Base, Schriever Space Force Base, Cheyenne Mountain Space Force Station, and NORAD. Defense-adjacent contractors including Lockheed Martin, Northrop Grumman, L3Harris, and Raytheon occupy substantial Class A office and R&D space, while the metro has quietly become a cybersecurity hub with the National Cybersecurity Center and multiple federal cyber programs. Population growth driven by military in-migration, a lower cost of living than Denver, and a booming outdoor tourism economy (Pikes Peak, Garden of the Gods) supports consistent multifamily and retail absorption.

CLS CRE — Manufactured Housing Financing in Colorado Springs

CLS CRE specializes in manufactured housing financing throughout the Colorado Springs metropolitan area. With access to 1,000+ lenders, we match your specific manufactured housing investment with the right capital source at the most competitive terms available.

Related resources:

Trevor Damyan, Commercial Mortgage Broker
Trevor Damyan
Commercial Mortgage Broker, CLS CRE | CA DRE 02244836

Trevor Damyan is a commercial mortgage broker at Commercial Lending Solutions with a background in structured finance at CBRE and Marcus and Millichap Capital Corporation. He specializes in bridge loans, construction financing, SBA programs, DSCR loans, and complex capital structures for investors and developers across all 50 states.