Colorado Springs, CO
El Paso County · Pop. 488,664
Ranked #128 of 243 cities
38Crisis
Median Home Price
🏠$420K
3.5% YoY
Median Rent
🔑$1,550
2.5% YoY
Median Income
💰$68K
Rent Burden
📊30.5%
% of income to rent
Income to Buy
🏦$121K
annual income needed
Income to Rent
📝$62K
annual income needed
Price-to-Income
⚖️6.2x
Homeownership
🏡60.0%
Rent vs. Buy
Buy
$2,235/mo
Est. mortgage (7%, 20% down)
Need $121K/yr income
Rent
$1,550/mo
Median rent
Need $62K/yr income
How Colorado Springs Compares
| Metric | Colorado Springs | Colorado | National |
|---|---|---|---|
| Home Price | $420K | $550K | $410K |
| Rent | $1,550 | $1,771 | $1,500 |
| Income | $68K | $93K | $75K |
| Rent Burden | 30.5% | 33.8% | 30.0% |
Key Takeaways
- • Home prices in Colorado Springs are 2% higher than the national average.
- • Rent is 3% higher than the national average.
- • You need an income of $121K to comfortably buy a home here.
- • The homeownership rate is 60.0%, compared to 65.0% nationally.