Colorado drew more than 96 million visitors in 2025, who spent a record $29.2 billion (Colorado Tourism Office). For real estate investors, this translates into some of the strongest short-term rental income in the country across its mountain resort markets, combined with sustained long-term rental demand in Denver, Colorado Springs, Boulder, and Fort Collins driven by technology, defense, healthcare, and education employment. DSCR loans are the financing tool that makes accessing these opportunities possible without tax returns or personal income documentation.
Mountain-resort files live or die on how the lender treats seasonal short-term rental revenue — the short-term rental DSCR page covers the three ways that revenue gets qualified and what each one does to the qualifying number.
Breckenridge: The Case for Summit County STR
Breckenridge sits 90 minutes from the Denver metro's 3 million residents (Census Vintage 2024), and draws fly-in visitors from across the country and internationally. The town's permanent housing market is constrained by National Forest boundaries that make new supply virtually impossible to build at scale, creating structural demand pressure that has supported both appreciation and occupancy for decades. Well-positioned STR condos and homes generate $80,000–$200,000 or more in annual gross revenue. The income figure the lender uses matters: the actual booking history where there is one, and with none the appraiser's long-term market rent or an AirDNA-style projection, depending on the lender — figures that can sit far apart in this market.
Denver: Long-Term Rental Fundamentals
Denver's median rent reached $1,688 per month as of August 2026 across all apartment sizes. The city's economic base — technology, aerospace, healthcare, and federal government — has driven sustained population growth that has pushed both home values and rents consistently higher over the past decade. For DSCR investors focused on long-term rental income, Denver's suburbs offer the strongest DSCR ratios — Aurora, Lakewood, Arvada, Westminster, and Thornton all offer properties in the $350,000–$500,000 range with rents that produce DSCR ratios of 1.15–1.25x at current rates.
Colorado Springs: The Military Market
Colorado Springs hosts Fort Carson, NORAD, Peterson Space Force Base, Schriever Space Force Base, and the United States Air Force Academy — making it one of the most concentrated military employment markets in the country. Military tenants pay using BAH (Basic Allowance for Housing), and we accept BAH lease structures as qualifying income for DSCR purposes. Colorado Springs also benefits from strong growth in the technology and defense contractor sector, diversifying its tenant base beyond military alone. Entry prices in Colorado Springs are significantly below Denver, producing DSCR ratios that are among the strongest in the state.
Colorado DSCR Loan Requirements in 2026
Standard requirements include a down payment of 15% or more, a DSCR of 1.0 or above, and 3–6 months reserves post-closing. No tax returns or W2s required. STR programs accept AirDNA projections for mountain resort markets. Close in your LLC. No property count cap. Loan amounts $75,000 to $25 million statewide. For premium mountain markets at higher price points, interest-only DSCR programs are available to manage PITIA and improve qualifying ratios.