ZIP 80923
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12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in ZIP 80923 usually run 1.2% below trend in December and 0.9% above it in July, about $41 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 80923 is at its highest level since Zillow's records here began in January 2015.
Rent in ZIP 80923 changed +4.0% over the year to September 2026. Across the 155 Colorado ZIP codes Zillow tracks, the typical change was +1.3%.
From 2019 to 2024, rent in ZIP 80923 rose 32.7% while median household income rose 13.4% ($89,592 to $101,565). Rent outpaced income.
Rent in ZIP 80923 is 31.3% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 3 months in a row, and rose in 11 of the last 12 months.
30% of the median household income ($101,565) is $2,539 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,140); a 3-bedroom is $2,980.
17th cheapest of 21 ZIP codes in Colorado Springs.
ZIP 80917, 3 miles away, rents for 23% less ($1,517/mo), about $5,400 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 80923. 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.
Who lives here
ZIP 80923 (Colorado Springs, CO) is majority owner-occupied, has a median income above the national average, 49.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 80923 in Colorado Springs, CO has changed in 5 years
Across the past five years, the going rent in ZIP 80923 in Colorado Springs, CO has shifted from $1,634 to $1,967, up 20.4% since 2021. Census figures show median household income at $101,565 today, compared with $92,332 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has risen from 28.8% to 32%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 45.6% to 49.1% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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Tips for renters in ZIP 80923
Last updated: October 17, 2026
ZIP code 80923 covers Colorado Springs, CO. The median rent here is $1,967/mo as of October 2026. A 1-bedroom rents for a median of $1,810/mo. A 2-bedroom rents for a median of $2,140/mo.
At 23% of local median household income ($101,565/yr), ZIP 80923 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.0% over the past year.
Frequently asked questions
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How does ZIP 80923 compare to other ZIPs in Colorado?
How does ZIP 80923 compare to the rest of Colorado Springs?
At $1,967/mo, rent takes ~23% of ZIP 80923's median household income ($101,565/yr). The standard benchmark is 30%.
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