Housing Hacking in Colorado Springs

[Robert Durden]

Hi all! I am currently house hacking a condo in Washington, DC that nets me $10 per month! There is definitely a space trade off but currently have two low key renters that are covering all my expenses, utilities, etc. It has been great! 

I am looking to house hack in Colorado Springs as I lived in the area briefly (4 months for ski season!) a couple of years ago and am looking to move back. I would love to get into my next property as a house hack and would love to get into some sort of -plex but it seems like SFHs may make more sense there. 

In the SFH context, I know the Denver per room market is strong. However, could anyone give me a read on the per room house hack market in CO Springs? Is it strong? I know there are a lot of military people so do they typically go for room rentals? I am seeing $700-$800 depending on the area on Facebook, seem right?

I am open to any and all insight as I scout places, thanks all!

Thanks so much, always great talking to you all!

[Jordan Malara]

@Robert Durden on average, your estimate per room is about right - $750. Master bedrooms with a masterbath suite can get more and separate basements can earn you more as well. You usually need a 5 bedroom house in decent condition to make the numbers work as best as possible. 

The other option I would recommend considering is finding a SFH with a walk-out basement or exterior access to the basement so you can operate a STR out of it. This strategy has netted us the greatest house hacking revenue in the area, especially if you combine it with renting out additional bedrooms in the other part of the home.