Buying a Home in Colorado Springs as a Guardian: Peterson, Schriever, and Cheyenne Mountain
Colorado Springs has three Space Force installations. Peterson Space Force Base hosts NORAD, U.S. Northern Command, and U.S. Space Force units, along with the 302nd Airlift Wing (Reserve). Space Base Delta 1 provides installation support for Peterson and Cheyenne Mountain Space Force Station. Since June 2025, Schriever Space Force Base has had its own host unit, Space Base Delta 41.
If you're arriving, start with the official Peterson SFB newcomers information. For how the move itself works, see the questions every military family asks on the military moves page.
Buying here and renting it out between assignments
Renting your home out isn't for everyone, and I don't try to persuade anyone to do it. But if you want to build a nest egg and there's a real chance you'll be assigned here again, Colorado Springs can be a good place to do it. In my experience, rental demand here has been relatively stable, and I believe the large Department of Defense presence in Colorado Springs helps create that stability.
If you're considering it, here's how I suggest thinking it through:
- Picture your ideal renter, and buy with that person in mind. Being closer to the Space Force bases can widen the pool of likely renters, but weigh that against what those renters will need from the home.
- Run the cash flow with every cost in it: HOA dues, property taxes, any metro district costs, insurance, and the price point of the home itself.
- Set aside a reserve. I suggest having about $15,000 in a separate account and running the rental like an actual business. That number is a starting place, not a formula, but it means you're prepared when something happens, not if. Without that cushion, I'd think hard before renting it out.
Kristen and I rented out our homes throughout our military careers. At one point we bought a home whose positive cash flow was only about $60 a month. We took the risk, and it paid off for us, but results are never guaranteed.
If you keep the home when you leave, you may still be able to buy again with a VA loan. See keeping your home as a rental and using your VA benefit again.
Space Force questions
Questions every military family asks
- How early should I start buying a house before a PCS to Colorado Springs?
- Can I assume someone's VA loan in Colorado Springs?
- How should I compare FHA, conventional, and VA financing for a Colorado Springs home?
- Can I keep my Colorado Springs home as a rental and use my VA benefit again?
- How does BAH affect what a military family can realistically afford in Colorado Springs?
- How do I choose a lender for a VA loan in Colorado Springs?
- Is there a VA loan limit in El Paso County?
- How do I find a real estate agent who understands military moves and VA loans in Colorado Springs?
- Which Colorado Springs neighborhoods are in each school district?
Talk through your move
If you're weighing whether to buy here and keep the home as a rental when you PCS, I can help you run the numbers and think through the renter you'd be buying for. Let's talk about your situation.
Sources
- Peterson SFB Newcomers Information, Peterson and Schriever Space Force Bases
- Space Base Delta 1 fact sheet, Peterson and Schriever Space Force Bases