Rents are 5% below what Monument's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,973 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in Monument usually run 2.2% below trend in January and 1.8% above it in June, about $79 a month apart at today's median. Based on 5 years of data.
Rent in Monument is 0.1% below its high of $1,975 in August 2026, at $1,973 as of September 2026.
Rent in Monument changed +2.5% over the year to September 2026. Across the 60 Colorado cities Zillow tracks, the typical change was +1.4%.
Rent rose in 7 of the last 12 months.
30% of the median household income ($128,816) is $3,220 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,400); a 3-bedroom is $3,360.
Colorado Springs, 15 miles away, rents for 13% less ($1,717/mo), about $3,100 a year in savings.
From Zillow's monthly rent index (ZORI) for Monument. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Monument, CO is majority owner-occupied, has a large share of families with children, has a median income above the national average, 57.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Monument, CO has changed in 5 years
The median rent in Monument, CO stood at $1,612 in 2021 and currently runs about $1,973, reflecting a 22.4% increase over the period. Census figures show median household income at $128,816 today, compared with $102,278 five years earlier. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 17.0% since 2021, moving from about 10,026 residents to roughly 11,735. College-educated residents now make up 57.7% of adults here, versus 53.5% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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At $1,973/mo, how Monument rent compares to typical pay (30% rule).
Monument rent by bedroom count
Median rent for each apartment size in Monument. Click any size for full breakdown.
Tips for renters in Monument
Last updated: October 17, 2026
The median rent in Monument is $1,973/mo as of October 2026. A studio apartment averages $1,650/mo while a 2-bedroom runs $2,400/mo. One-bedroom apartments average $1,990/mo and 3-bedroom units go for $3,360/mo.
At 18% of local median household income ($128,816/yr), Monument ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.5% over the past year.
Frequently asked questions
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Is rent going up or down in Monument?
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Which nearby cities are cheaper to rent in than Monument?
At $1,973/mo, rent takes ~18% of Monument's median household income ($128,816/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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