Colorado Springs, Colorado Housing Market Prices
Colorado Springs Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 19% below the Colorado median$394,456
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Median rent 7% below the Colorado median$1,640
Housing Market Overview
| Metric | Colorado Springs | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $394,456 | $484,034 | $248,835 |
| Price Trend (Annual %) | 8.8% | 10.4% | 7.5% |
| Median Gross Rent | $1,640 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 7.0% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Colorado Springs is about 19% lower than in Colorado. Rent is about 7% lower than the Colorado average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Colorado Springs, up about 8.8% and 7.0% a year respectively. Home prices are changing faster.
Median rent in Colorado Springs rose about 78.2% between 2015 and 2024, from $920 to $1,640. Over the same span, rent in Colorado rose about 75.6%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Colorado Springs.
Buying the median-priced home in Colorado Springs costs roughly 20.0 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Colorado Springs. The price-to-rent ratio in Colorado is about 22.9.
| Metric | Colorado Springs | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $394,456 | $484,034 | $248,835 |
| Median Household Income | $84,007 | $95,803 | $80,455 |
| Price-to-Income Ratio | 4.7 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Colorado Springs rose about 121.1%, while median household income rose about 52.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Colorado Springs | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.8% | 60.7% | 58.5% |
| Rental Rate | 37.9% | 31.0% | 31.2% |
| Vacancy Rate | 4.3% | 8.3% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Colorado Springs has a homeownership rate of 57.8%, lower than the Colorado average of 60.7%. Its housing vacancy rate is 4.3%, compared with 8.3% in Colorado.
Housing Stock
| Metric | Colorado Springs | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1984 | 1985 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Colorado Springs was built around 1984. On average, 2.3 people live in a home with about 5.9 rooms, staying for about 11.0 years on average.
Colorado Springs, CO Housing Compared With Nearby Cities
How Colorado Springs, CO compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Colorado Springs, CO | 466,797 | $394,456 #2/2 | $1,640 #2/2 | 60.4% #2/2 |
| Security-Widefield, CO | 32,834 | $443,321 | $1,781 | 84.7% |
Frequently Asked Questions
Common questions about the housing market in Colorado Springs, Colorado.
What is the median home price in Colorado Springs, Colorado?
The median home price in Colorado Springs, Colorado is $394,456, lower than the Colorado average of $484,034.
What is the average home price in Colorado Springs, Colorado?
The typical home price in Colorado Springs, Colorado, reported as the median sale price, is $394,456. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Colorado Springs, Colorado?
The median gross rent in Colorado Springs, Colorado is $1,640 per month, lower than the Colorado average of $1,761.
What was the median gross rent in Colorado Springs in 2020?
In 2020, the median gross rent in Colorado Springs, Colorado was $1,191 per month.
What is the price-to-rent ratio in Colorado Springs, Colorado?
The price-to-rent ratio in Colorado Springs, Colorado is about 20.0, meaning it would take roughly 20.0 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Colorado Springs.
Are home prices or rent rising faster in Colorado Springs, Colorado?
Both home prices and rent are rising in Colorado Springs, up about 8.8% and 7.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Colorado Springs, Colorado?
57.8% of households in Colorado Springs, Colorado own their home, lower than the Colorado average of 60.7%.
What is the vacancy rate in Colorado Springs, Colorado?
The housing vacancy rate in Colorado Springs, Colorado is 4.3%, lower than the Colorado average of 8.3%.
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