Why Live in Monument
Monument, CO, is a small mountain town located 20 miles north of Colorado Springs with a population of about 12,000 people. Known for its laid-back lifestyle and scenic pine tree landscape, Monument attracts families due to the highly rated Lewis-Palmer School District 38. Many residents commute to Denver, 50 miles away, or work from home in various industries. The town features family-owned restaurants and businesses along 2nd Street, and residents enjoy local attractions such as Monument Preserve Western Loop and Monument Lake, which offers views of Pikes Peak. Homes in Monument range from early 21st-century townhouses to new traditional and ranch-style homes, with prices varying from $530,000 to $1.7 million. Affluent subdivisions like Homestead at Jackson Creek provide stunning views of the Front Range mountains. Monument boasts several parks and trails, including Dirty Woman Creek Park, Limbach Park, and the New Santa Fe Regional Trail, which extends nearly 17 miles. The town also has a walkable downtown area with boutiques and eateries, and plans for new shopping developments are underway. Annual events like the Tri-Lakes 4th of July Celebration and Monument Art Hop bring the community together. Monument has seen a significant decrease in crime rates compared to the national average, and the local police department actively engages with residents through programs like Neighborhood Watch and Coffee with a Cop. The town's elevation of nearly 7,000 feet results in cooler temperatures and a higher risk of wildfires, managed by the Monument Fire Center. Commuters use Interstate 25 to travel to nearby cities, and the Colorado Springs Airport is 31 miles south.
Frequently Asked Questions
How much does it cost to rent a home in Monument, CO?
The median rent for a home in Monument, CO is $3,150 per month, though prices vary by neighborhood, size, and property type. As of August 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Monument, CO?
To comfortably afford the median rent in Monument, CO, a household needs to earn roughly $126,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $3,150 per month in Monument, CO, renters typically need to show $9,450 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Monument, CO?
In Monument, CO, the price-to-rent ratio is 20.0, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
There are currently 1 homes available for rent in Monument, CO. The median rent is $3,150 per month, with single-family homes renting at $3,511, townhouses at $1,995 and condos at $2,300.
Number of Homes for Rent
1
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Median Single Family Home Rent
$3,511
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Median Townhouse Rent
$1,995
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