Gabi,
I live in Colorado Springs (moving to Kentucky in a month or two), and I would be very reluctant to start a farm out here. In addition to the ridiculously backwards water rights restrictions, it's getting more and more dry with each passing year. Even collecting rain water with a roof catchment system is technically not allowed without going through the state, although I have no clue how easy that is to get approval since I just did it without permission.
I have heard from other Colorado natives that getting water rights is difficult, limited, and still requires a meter so that you'll be charged. Nevermind that proper use would raise water table levels, increase vegetation, reverse desertification, and smooth out the unpredictable precipitation in the area - the problem is that water rights are over a century old here and the good ol' boys are still claiming rights to them. It's so frustrating to see how much effort in Colorado goes towards running water into streams as quickly as possible, you'd think it's toxic...
So I'd be reluctant because I'd be worried that natural water will get worse, and the restrictions could possibly get worse along with that. But good luck if you do end up coming out this way. It's beautiful, that's for sure.