COLORADO SPRINGS — As of June, the average monthly rent for an apartment in Colorado Springs is $1,333, according to Silver Key Senior Services.
Seniors are hit hardest when it comes to rising rents, as they are on fixed incomes.
"They are just so scared. They aren't in the best health and they don't know how they are going to move or find a place," said Richard Skorman, District Three City Council member.
The average senior has an annual income of less than $10,000.
"A lot of out-of-town investors are coming to Colorado Springs and buying up these apartment units cause they know they can double rent. People on fixed incomes are struggling," said Skorman.
Local organizations that support seniors have heard these worries and are trying to help!
In June, Silver Key Senior Services announced a new housing development for seniors that will be located on their campus.
"Housing is health. When someone has stable housing it results in great outcomes with oral, physical, mental, and emotional health," said Dayton Romero, Director of Senior Health and Wellness Services at Silver Key.
Silver Key says it hopes to break ground on the project next year.
"It's important for them (seniors) to know that there is going to be hope," said Derek Wilson, Silver Key.