Colorado Springs BAH Rates 2024, Housing, Education, & Cost of Living

Local Colleges and Universities

The city is home to several colleges and universities. This is a partial list.

• Colorado Christian University (zip code – 80920)
• University of Colorado – Colorado Springs (zip code 80918)
• United States Air Force Academy (zip code 80840, 80841)
• University of Colorado at Colorado Springs (zip code 80918)
• Colorado College (zip code 80903)
• Pikes Peak Community College (zip code 80906)
• Nazarene Bible College (zip code 80920)

To find more Colorado Springs schools, use the free CollegeRecon School Finder tool.

Using Your GI Bill

Anyone considering using the Post 9/11 GI Bill in Colorado Springs should know the following:

• • You may be eligible for Monthly Housing Allowance (MHA) if you are a full-time student.
  • MHA is comparable to the Basic Allowance for Housing (BAH) for an E-5 with dependents.
  • MHA is calculated based on the zip code of where you physically attend most of your classes.
  • Those attending only online classes receive a set MHA of approximately $1,054 (in 2023)
  • Up to $1,000 is available each year for books and supplies.
  • The Post 9/11 GI Bill can be transferred to a spouse or dependents but you must still be on active duty to transfer.
  • The Yellow Ribbon Program offers financial support in specific situations where the GI Bill does not fully cover the cost of tuition at participating colleges.

Cost of Living in Colorado Springs

According to Bestplaces, the cost of living in Colorado Springs has an index of 110.3, which means it is slightly higher than other areas of the country.  However, compared to Colorado, it is lightly less expensive than the rest of the state on average.

The housing is the main driver that pushes the cost of living higher with an index of 141, well above the national average.  Other areas such as groceries, transportation, and utilities are slightly lower than the rest of the country.

Category / Index

• Overall – 110.3
• Housing – 141
• Groceries – 98
• Transportation – 95
• Utilities – 92

Other categories to consider

• Healthcare
• Childcare
• Taxes

Colorado Springs Housing

Understanding the Colorado Springs housing area is important when deciding where to live. As of October 2023, the average rent in Colorado Springs is $1,576 according to Rentcafe.

The most affordable neighborhoods according to Rentcafe include:

• Knob Hill – $1,233
• Old North End – $1,254
• Pikes Peak Park – $1,264

According to Realtor.com, the average sale price of a home as of October 2023 is approximately $474,000, and Colorado Springs is currently rated a buyers-market – the supply of homes is greater than the demand.

To learn more about VA Loan Program benefits, you can get a free eligibility assessment from our VA loan partner.

Primary Education

For families with school-age children, where you live often influences where your children attend school. For families with or without children, the quality of area schools can influence housing costs and the resale value of a home.

There are no DoDEA schools in Colorado Springs. Colorado is an open-enrollment state – families can enroll in schools that are outside the district where they reside. According to Greatschools.com, some of the highest-ranking schools in the area are located in these districts:

• Widefield 3 School District
• Cheyenne Mountain 12 School District
• Colorado Springs 11 School District
• Academy 20 School District

For more information on charter or private schools and home school resources, refer to the Fort Carson School Support Services.

Employment Opportunities

According the Colorado Springs Chamber & EDC, 5 industries dominate the Colorado Springs employment landscape. These include:

• Aerospace & Defense
• Information Technology & Cybersecurity
• Healthcare & Medical Technologies
• Sports
• Manufacturing

As of September 2023, Colorado Springs had a 3.4% unemployment rate, below the national unemployment rate, according to the Bureau of Labor Statistics.

>> To find organizations seeking to recruit and place military, veterans, and spouses, please visit CareerRecon.

Things to See and Do

Colorado Springs is surrounded by glorious mountains and peppered with quirky corners like Manitou Springs and Old Colorado City. Enjoy all the area has to offer while you are there!

• Garden of the Gods Visitor and Nature Center
• Pikes Peak Cog Railway
• Cheyenne Mountain Zoo
• The Broadmoor Resort
• Helen Hunt Falls
• The North Pole – Home of Santa’s Workshop
• “Penny Arcade” and Manitou Springs
• Poor Richard’s: Books, Gifts, Toys, Games, Coffee, Pizza

(Photo courtesy of Beverly, Flickr, license)

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