The Platinum Group, REALTORS®Weldon HobbsColorado Springs | REALTOR®
Veteran | USAFA
Military, PCS & VA

Should Guardians buy a home in Colorado Springs if they may be assigned here again?

ByWeldon HobbsTeam Hobbs RealtyPublished Last reviewed

Short answer: It can make a lot of sense, but only if the home also works as a rental while you're away. Colorado Springs has the largest concentration of Space Force personnel, so many Guardians reasonably expect they could be assigned here again. A home you keep between assignments can become a real nest egg. It's not for everybody, though. It comes down to your risk tolerance, whether you're willing to be a landlord, and whether now is the right time to buy. Nobody can promise you'll come back, so buy a home that makes sense even if you don't.

Why this question comes up so often here

Colorado Springs is home to Peterson Space Force Base, Schriever Space Force Base, and Cheyenne Mountain Space Force Station. When those installations were renamed in 2022, the Space Force described them as home to its largest concentration of personnel. The Space Force's own personnel guidance also notes that most colonel assignments are in Colorado Springs, Los Angeles, and the Washington, D.C. area.

The Space Force is also small. It had about 10,500 Guardians as of July 2026 and plans to roughly double over five years. A small service with a handful of major bases makes it reasonable to think you could be back.

What that doesn't tell you is your odds. No one publishes how often Guardians return to Colorado Springs, and I won't guess. Your career field, your rank, and the needs of the service all shape where you go next. Your leadership and mentors in your career field will have a better read than any website.

What buying for a possible return looks like

The idea is simple. You buy a home you'd be glad to live in now, keep it and rent it out when you PCS, and either move back into it or keep building on it if you're assigned here again.

I've had clients buy a couple of homes here over their careers. I've also worked with two younger captains who bought homes remotely, partly because they expected to come back to Colorado Springs.

Military members are at a disadvantage when it comes to building a nest egg. You move often, and a spouse's career often restarts with every move. A home that's working for you while you're somewhere else can help change that. Kristen and I rented out homes throughout our own careers. One we bought with only about $60 a month in positive cash flow. The cash flow wasn't great, but it was an equity play: we built equity over time, then sold it and used a 1031 exchange to move that equity into another investment property. That's our experience, not a promise; results depend on the home, the market, and how you run it.

It's not for everybody

It comes down to risk tolerance. Some people don't want to be landlords, and some don't want anyone else living in their home. That's a completely reasonable choice. And sometimes buying just isn't the right move at that point in your life.

A lot of people say they're okay with renting a home out. You really have to think that through: tenants, repairs from a distance, vacancies, and the day something breaks while you're two time zones away. Renting out a home is a business, and it works best when you run it like one.

My role is to help you see the whole picture. I don't try to talk anyone into being a landlord.

A simple test before you buy

A purchase you might hold through one or more assignments away is worth considering when:

  • You're willing to hold the home at least five years, which usually means being willing to rent it out, since orders can come at any time.
  • You're buying at fair market value, not stretching to win.
  • Your income is stable, and you'd still qualify comfortably.
  • You have an emergency fund. I like to see about $15,000 set aside before a home is rented out, because it's not if something happens, but when.
  • The numbers work as a rental. Add up the full monthly cost, including the mortgage, property taxes, any metro district taxes, HOA dues, landlord insurance, maintenance, and property management, and compare it with what the home could realistically rent for when you leave. We don't publish rent figures, because they change too often; get current estimates from several listing sources and a property manager at the time.

For the full sell-or-keep decision when your orders come, see whether to sell or rent your home when you PCS.

Buy the home with the renter in mind

If there's a real chance the home will be a rental for a few years, picture your ideal renter before you buy, and choose a home that would appeal to them. Being close to the bases can widen your pool of renters, since many of them will be military families too. Weigh that against what you need in a renter and in a home for your own family.

Watch the costs that don't show up in the price. Two Colorado Springs homes at the same price can have very different property taxes, metro district taxes, HOA dues, and insurance, and those costs follow you as a landlord. See why property taxes differ between similar homes, what a metro district is, and how BAH affects what you can afford. For drive times from different parts of town to each installation, see neighborhoods by school district.

Three things to know if you keep the home

Your VA entitlement. If you buy with a VA loan and keep the home as a rental, part of your entitlement stays tied to it. Many Guardians can still buy at their next duty station with the entitlement they have left. See keeping your home as a rental and using your VA benefit again.

Moving back in isn't instant. If you come back on orders, you'll need to work around your tenant's lease and Colorado's notice rules before you can move back in. Plan that timing with your property manager. See whether to sell or rent when you PCS for the notice rules.

The capital gains clock can pause. Normally, to exclude the gain when you sell a home, you need to have lived in it for two of the five years before the sale. Service members on qualified official extended duty, which generally means stationed at least 50 miles away or living in government quarters under orders, can choose to suspend that five-year period for up to 10 years. That can help if you rent the home out while you're away and sell later. The rules have details, and they can change, so talk with a CPA before you count on it. See capital gains when you sell a longtime home.

A simple way to decide

  • If a return is realistic, you're comfortable being a landlord, and the home works as a rental, buying and keeping it can build real long-term wealth.
  • If a return is realistic but you don't want to be a landlord, renting while you're here, or buying and selling when you leave, is a completely reasonable choice. See whether to rent or buy.
  • If you might return but your finances aren't ready, wait. Build the emergency fund first.
  • If you're early in your career and weighing your first purchase, see whether junior enlisted service members should buy.
  • If you're thinking of buying before you arrive, see how early to start before a PCS and buying remotely during a PCS.

What could change the answer

  • Your career path. Your career field, promotions, and assignment opportunities matter more than any general pattern.
  • Basing decisions. U.S. Space Command, a joint command that isn't part of the Space Force, is moving its headquarters from Colorado Springs to Huntsville, Alabama, in phases, with the permanent facility expected around 2031. The Space Force's installations here are not part of that move, but basing decisions can change what "coming back" looks like for some jobs.
  • Rental demand and costs. Rents, vacancies, insurance, and property taxes change, and they decide whether a rental pays for itself.
  • Your life. Family, a spouse's career, or a decision to separate or retire can change whether you'll want to come back at all.

When to talk with a professional

A VA-experienced lender can confirm your entitlement and what you'd qualify for at your next duty station. A CPA can explain the tax rules for rental income, depreciation, and selling later, including the military suspension. A property manager can give you a current rent estimate and explain what managing from a distance involves. Your leadership and mentors can speak to what's realistic for your career field.

If you're a Guardian wondering whether the home you buy here should also be the one you come back to, let's look at the numbers together. And if your next assignment is somewhere other than Colorado Springs, I can help you find and personally vet a real estate professional in that market.

About the author

Weldon Hobbs is a Colorado Springs REALTOR® and co-founder of Team Hobbs Realty. He is a member of The Platinum Group, REALTORS®, Colorado Springs' #1 independent brokerage, which pairs deep local expertise with premium marketing exposure. A U.S. Air Force Academy graduate and retired Air Force veteran, he and his family made more than 10 military moves. Since 2006, he and his wife, Kristen, have bought and sold their own homes, managed a portfolio of rental properties, and guided others through their own real estate decisions. He has also helped both family members and clients downsize, where the decisions are often complex and the process can feel overwhelming. Drawing on his background as a PMP® (Project Management Professional), he helps people break those decisions into clear, manageable steps.

Since beginning his real estate career, he has ranked in the top 7% by sales volume among the more than 4,000 members of the Pikes Peak Association of REALTORS®. He works with military families, seniors and downsizing clients, luxury and premium home sellers, and people relocating to Colorado Springs. He developed the Life → Wealth → Real Estate™ method, hosts the national YouTube channel Life & Real Estate Without Regret, and holds an MBA along with the SRES® (Seniors Real Estate Specialist®), MRP (Military Relocation Professional), and Certified Financial Coach credentials. More about Weldon

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