The lowest entry price point in the Denver/Colorado Springs cross-market. 236 homes, military-friendly location near Fort Carson and Peterson SFB, access to both major metro medical systems. Here's why Denver buyers cross-shop this community and what to know before you do.
The Retreat at Banning Lewis Ranch is a 55+ community in the Banning Lewis Ranch master-planned development on Colorado Springs' northeast side. At 236 homes it is one of the smaller communities in the region, delivering intimate scale and lower price points than any community in the Denver metro proper.
The community frequently appears on the radar of Denver buyers who have a budget in the $400K–$550K range and find Denver metro communities at that price point limited to condo options or entry-level single-family in older communities. The Retreat delivers newer single-family homes at these price points in a master-planned setting — the trade-off is accepting Colorado Springs metro rather than Denver metro as the primary address.
For veterans and military retirees, the location is a genuine advantage. Fort Carson is southwest of Colorado Springs, Peterson Space Force Base and Schriever SFB are east. Access to military medical facilities, the exchange, and commissary are practical considerations that meaningfully reduce retirement cost of living for eligible veterans. This demographic is heavily represented in the community's resident profile.
| HOA Fee | ~$200/month — covers common areas, community amenities |
| Property Tax Rate | El Paso County — approximately 0.50% effective rate (lowest of any community in this guide) |
| Property Tax on $475K Home | ~$2,375/year (~$198/month) before senior exemption |
| Senior Exemption (65+, 10yr) | Reduces taxable base by $100K — saves ~$500/year after qualifying |
| Home Insurance (est.) | $1,400–$2,000/year |
El Paso County has the lowest effective property tax rate of any county in this guide — approximately 0.50%. On a $475K home, annual property taxes run roughly $2,375 — compared to $3,300–$3,700 for comparable price-point homes in the Denver metro. Over a 20-year retirement, that's $18,500–$26,500 in cumulative property tax savings versus Denver County communities. For budget-focused buyers, El Paso County's tax environment is a meaningful advantage.
You are choosing Colorado Springs, not Denver. This sounds obvious but buyers cross-shopping Denver and Colorado Springs communities sometimes underestimate how different the two metros are in culture, scale, and orientation. Colorado Springs is more conservative, more military-influenced, and more outdoors-focused than Denver. The metro is smaller and the restaurant and arts scene is less developed. For buyers who want Denver's urban culture as a regular part of retirement life, the 70-mile distance matters.
Pikes Peak access is genuinely extraordinary. Colorado Springs sits at the base of Pikes Peak — 14,115 feet. The view from the community on clear days is dramatic. Access to Garden of the Gods, Cheyenne Mountain State Park, and the extensive Colorado Springs trail system is 15-25 minutes. For buyers who prioritize outdoor access and dramatic scenery, the Springs delivers this as well or better than Denver's northern suburbs.
Military benefits reduce effective cost of living substantially for eligible buyers. Fort Carson retirees and active duty families with commissary and exchange access see 15-25% reductions in everyday expenses. Military healthcare (TRICARE) eliminates or reduces private insurance needs. For veterans with full military benefits, The Retreat's all-in monthly cost is substantially lower than any Denver community at any price point.
Denver is 70 miles north. If your adult children, medical specialists, or regular commitments are in Denver, the drive is 60-90 minutes depending on traffic and I-25 corridor conditions. That's manageable for monthly visits but creates real friction for weekly trips. Be honest about your actual Denver dependency before treating this as equivalent to a Denver metro community.
| UCHealth Memorial Hospital (C. Springs) | ~20 minutes — Colorado Springs' primary Level I trauma center |
| Penrose-St. Francis Hospital | ~25 minutes |
| Fort Carson Medical | ~30 minutes (for eligible military) |
| Downtown Colorado Springs | ~20 minutes west |
| Denver (general) | ~70 miles, 60–90 minutes via I-25 north |
| Denver International Airport | ~90 minutes via I-25 north and E-470 |
| Colorado Springs Airport | ~20 minutes — direct flights to major hubs |
| Garden of the Gods | ~30 minutes west |
Connect with a specialist who knows the Colorado Springs 55+ market and can run the full cost comparison against Denver metro options.