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Palmer Lake, CO Homes for Rent

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  • /15

    $2,300 Plus Fees

    • 2 Beds
    • 2 Baths
    • 1,056 Sq Ft
    • Townhouse for Rent

    307 Brook St, Palmer Lake, CO 80133

    Property Id: 2798136 Perched high on the hillside with sweeping views across the Colorado Springs Valley and toward the mountains, this gorgeous end-unit rental offers the perfect mountain retreat near Monument and Palmer Lake. Step inside to find brand-new flooring throughout and an updated kitchen and bathrooms, creating a fresh, modern, and comfortable living space. The open living

    307 Brook St, Palmer Lake, CO 80133
  • /15

    $1,875

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 438 Sq Ft
    • House for Rent

    97 Hillside Rd, Palmer Lake, CO 80133

    Welcome to this fully remodeled cabin in Palmer Lake, CO, offering breathtaking mountain views and a cozy atmosphere. This quaint 1 bedroom, 1 bathroom cottage is nestled on the mountainside, providing a peaceful retreat in a close-knit community. Enjoy the serenity of nature with nearby hiking trails and a picturesque lake just a short distance away. This charming cabin is the perfect escape for

    97 Hillside Rd, Palmer Lake, CO 80133
  • /24

    $3,500

    Total Monthly Price

    • 6 Beds
    • 3.5 Baths
    • 2,750 Sq Ft
    • Condo for Rent

    277 Glenway St, Palmer Lake, CO 80133

    277 Glenway St, Palmer Lake, CO 80133

Why Live in Palmer Lake

Palmer Lake, CO, is a historic mountain community situated between Denver and Colorado Springs. Founded in 1871, this small town offers a rural experience with a variety of things to do, particularly for outdoor enthusiasts. The Palmer Lake Recreation Area, a 36-acre site at the base of Ben Lomand Mountain, is a local highlight, featuring walking paths, hiking, fishing, and kayaking opportunities. Glen Park provides a playground, tennis court, and picnic tables for a more secluded outdoor experience. The town's real estate includes a mix of historic cabins, cottages, modern farmhouses, and ranch-style homes, with prices ranging from the $400,000s to over $1 million. Downtown Palmer Lake is home to locally owned cafes, novelty stores, boutiques, and museums, maintaining a timeless feel with its historic buildings. For larger retailers and chain restaurants, residents can head down Highway 87. The community hosts numerous social events, including the Palmer Lake Wine Festival, Shakespeare In the Park, and annual holiday celebrations like the Yule Log Christmas and Fourth of July fireworks. Young residents attend highly rated schools in the Lewis-Palmer School District 38, including Palmer Lake Elementary School, Lewis-Palmer Middle School, and Palmer Ridge High School, all known for their strong academic and extracurricular programs. Palmer Lake is conveniently located, with Denver an hour away and Colorado Springs just 30 minutes away, accessible via Highway 105 and Interstate 25.

Frequently Asked Questions

How much does it cost to rent a home in Palmer Lake, CO?
The median rent for a home in Palmer Lake, CO is $2,950 per month, though prices vary by neighborhood, size, and property type. As of August 2026, single-family homes tend to be the most affordable option.
How much do you need to make to afford rent in Palmer Lake, CO?
To comfortably afford the median rent in Palmer Lake, CO, a household needs to earn roughly $118,000 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 $2,950 per month in Palmer Lake, CO, renters typically need to show $8,850 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 Palmer Lake, CO?
In Palmer Lake, CO, the price-to-rent ratio is 16.7, 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.
What neighborhoods in Palmer Lake, CO are best for renting a home?
The best neighborhood for renting in Palmer Lake, CO depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Briargate, Pine Creek, Founders Village, The Meadows and Gleneagle, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
3
Median Rent
$2,950
Median Single Family Home Rent
$3,090
How to Rent a Home