What should retirees know before moving to Colorado Springs?

Colorado Springs offers mountain views, an outdoor lifestyle, outstanding summers and fall weather, and a large military and defense community. Before you move, plan for what surprises newcomers: hail, strong thunderstorms, cold wind, and an elevation above 6,000 feet. On the money side, Colorado lets residents 65 and older subtract federally taxed Social Security from state income, but the senior property tax exemption requires 10 years in the same home. Choose a home by layout, full monthly cost, and drive time to the people and care you rely on.

Why people choose Colorado Springs

People come here for the outdoors. Being outside and seeing the mountains every day is a big part of the appeal, and it is beautiful. The summers and shoulder seasons, from late spring into summer and from summer into October, are incredible, and they can't be overstated. That's why Kristen and I stay, along with our connection to the Air Force Academy and the people here.

Colorado Springs is also a military town. The area is home to Fort Carson, Peterson and Schriever Space Force Bases, the U.S. Air Force Academy, and Cheyenne Mountain Space Force Station, and much of the local economy is driven by defense and space. In my experience, the community is very military-friendly, which matters to many veterans and military retirees choosing where to settle.

For a broader look, see what to know before moving to Colorado Springs and the pros and cons of living here.

What surprises newcomers

Hail, thunderstorms, and wind

People are often surprised by the hail and by how strong summer thunderstorms can be. Hail is also the biggest driver of homeowners insurance costs here, so a home's roof age and material, and your policy's wind and hail deductible, matter more than in many places. Some policies use a percentage of the home's insured value instead of a fixed dollar amount. See why homeowners insurance varies in Colorado Springs and how serious hail damage is.

Winter has plenty of sunny, mild days, but the cold wind on others can cut right to the bone.

The altitude

Colorado Springs sits above 6,000 feet. Most people adjust, but if you have heart or lung conditions, talk with your physician about living at altitude before you commit.

The money side

How Colorado taxes retirement income

Colorado has a flat state income tax, and several subtractions apply to retirement income. As of the current rules from the Colorado Department of Revenue:

• Social Security, age 65 and older: you can subtract all of the Social Security income included in your federal taxable income.
• Social Security, ages 55 to 64: beginning with tax year 2025, the full subtraction applies if your adjusted gross income is no more than $75,000 (single) or $95,000 (joint); above that, the pension and annuity limit applies.
• Pensions and annuities: up to $24,000 per person at 65 and older, and up to $20,000 per person at ages 55 to 64, combined with any Social Security subtraction.
• Military retirement pay under age 55: up to $15,000 per year through tax year 2028.

These rules change, so confirm them with a CPA for your situation.

Property taxes for newcomers

Colorado's senior property tax exemption is valuable, but it requires owning and living in the same home as your primary residence for 10 consecutive years. Someone who moves here at 66 generally won't qualify until 76. Budget your first decade of property taxes without it. Veterans with a qualifying 100% service-connected disability rating are different: that exemption has no 10-year rule. See how the senior property tax exemption works and the disabled veteran exemption.

The full monthly cost

Two homes at the same price can cost very different amounts each month once you add property taxes, metro district taxes, HOA dues, and insurance. Many newer single-level homes and 55+ communities here have HOA dues, and some sit in metro districts. Compare the full monthly cost, not just the price. See the real cost of living in Colorado Springs and what a metro district is.

Choosing a home for this chapter

• Look at the layout, not the label. For many retirees, the priority is living on one level: bedroom, full bath, kitchen, and laundry on the main floor, with a step-free way in. See how to find a single-level or accessible home.
• Understand 55+ communities as a structure. Age-restricted communities operate under the federal Housing for Older Persons Act, with HOA rules, covenants, and a narrower resale market. Read the rules in full. See what to know before buying in a 55+ community.
• Map your routine. Drive to the doctor, the grocery store, church, and family at the times you'd actually go. See commute times by area.
• Think ten years ahead. Choose a home you can still live in comfortably if your needs change. See what modifications make aging in place realistic.

If you're moving to be near your adult children

Many people move here to be closer to children and grandchildren. A few things help:

• Visit in more than one season, including a windy winter week.
• Consider renting first if you're not sure where you want to be. See whether to rent or buy.
• Plan the sale of your current home. The timing of that sale, and its tax effects, often drives the whole move. See whether to downsize or stay.

If you're selling a home in another state to move here, I can help you find and personally vet a real estate professional in that market.

Local resources

• Pikes Peak Area Agency on Aging: free information and referrals, Medicare counseling, and caregiver support for adults 60 and older in El Paso, Park, and Teller counties. See help available for seniors who are moving.
• El Paso County Assessor and Treasurer: property values, exemptions, and tax payments.
• Colorado Springs Utilities: electric, natural gas, water, and wastewater for most of the city.
• Pikes Peak Regional Building Department: permits for home modifications.

What could change the answer

• Your health. Altitude and access to specialists can matter more for some people than others.
• Your income sources. Pensions, Social Security, military retirement, and investment income are taxed differently in Colorado.
• Your budget for housing. HOA dues, metro districts, and insurance can shift which homes fit.
• Where family lives. Being near children can outweigh almost every other factor.
• Military or veteran status. Different tax subtractions and property tax exemptions may apply.

When to talk with a professional

Sources

• Colorado Department of Revenue, Income Tax Topics: Social Security, Pensions and Annuities: https://tax.colorado.gov/income-tax-topics-social-security-pensions-and-annuities
• Colorado Division of Property Taxation, Senior Citizen and Veterans with a Disability Property Tax Exemption: https://dpt.colorado.gov/property-tax-exemption-for-senior-citizens-and-veterans-with-a-disability
• El Paso County Assessor, Senior Property Tax Exemption: https://assessor.elpasoco.com/senior-property-tax-exemption/
• 24 CFR 100.304, Housing for persons who are 55 years of age or older: https://www.law.cornell.edu/cfr/text/24/100.304
• Pikes Peak Area Council of Governments, Pikes Peak Area Agency on Aging: https://ppacg.org/pikes-peak-area-agency-on-aging/
• Colorado Springs Utilities: https://www.csu.org
• Pikes Peak Regional Building Department: https://www.pprbd.org