In January, I heard a story about a retired couple who had lived in a single-family home in Colorado Springs for nearly 30 years. They checked their gas bill again because their usual heating costs, which were around $50, suddenly nearly doubled. It was a winter with a severe cold snap, but they began to seriously consider whether to continue living in this house.

The first question that those approaching retirement or who are already retired face is whether to maintain their current single-family home or move to a condo, townhome, or an active senior community. An active senior community typically refers to a housing complex for residents aged 55 and older, where the management office takes care of maintenance tasks like lawn care and exterior repairs.

First, let's look at heating costs. According to Xcel Energy, households in the Colorado Front Range area use about 600 to 800 kilowatt-hours of electricity per month, which results in an electric bill of $90 to $120, totaling $1,080 to $1,440 annually. If Xcel's proposal to increase electricity rates by 9.9 percent starting in August 2026 is approved, the average bill is expected to rise to between $100 and $110. Gas bills are also projected to increase by 11.4 percent to an average of $74.41 per month starting in October, when winter heating season begins.

In a single-family home, you are solely responsible for these heating and cooling costs. If the roof or boiler breaks down, all repair costs fall on you. Simply put, the larger and older the house, the more variable the monthly maintenance costs become. In contrast, condos or townhomes require residents to pay a monthly HOA fee, which covers exterior painting, roof repairs, and landscaping maintenance handled by the management office.

• Single-family home - ample space and privacy, but all maintenance and heating/cooling costs are your responsibility
• Townhome - lower HOA fees compared to condos, with reduced yard maintenance burden
• Condo - exterior maintenance is managed by the office, but HOA fees are relatively high
• Active senior community - well-maintained amenities and management, but additional community fees apply

On average across Colorado, the HOA fee for single-family homes is about $220 per month, while for condos, it is around $475. In Colorado Springs, as of May 2026, the median listing price for homes is reported to be $499,000, leading many to consider using the profits from selling their current home to fund the purchase of a condo or townhome.

Active senior communities often have slightly higher management fees than condos or townhomes, but most include amenities like pools, community centers, and landscaping maintenance. When it becomes challenging to manage the yard and roof alone, these additional costs can provide peace of mind. If you are moving to Colorado from another state, be sure to check homeowners insurance rates as well. Due to the area's frequent hail and heavy snowfall, insurance premiums may be higher than in your previous location, so it's wise not to overlook this when budgeting.

You should also consider property taxes. The median effective tax rate in El Paso County, where Colorado Springs is located, is 0.37 percent, which is relatively low compared to other areas in the U.S. Additionally, there is a senior property tax exemption program available for those aged 65 and older who have lived in the same home for at least 10 years, allowing half of the assessed value of a home worth $200,000 to be exempt from taxation. The application deadline for the 2026 tax year is July 15.

Ultimately, in areas like Colorado Springs with low property tax rates, maintaining a single-family home may not result in a significant tax burden. However, if the variability of heating and maintenance costs is concerning, managing a condo or active senior community with predictable fixed costs, even with HOA fees, may be psychologically more comfortable. Consider your lifestyle patterns and future health when making your decision.

The tax and fee information in this article is based on county and utility company announcements and may vary based on individual circumstances. It is advisable to consult with real estate and tax professionals before making any sales or exemption applications. Please consider this as general information, not investment or legal advice.