Colorado Springs, CO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Colorado Springs, CO Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Colorado Springs Housing Market Information

With a population of 464,474, 176,026 total housing units (homes and apartments), and a median house value of $299,678, Colorado Springs real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Colorado Springs, accounting for 61.93% of the city's housing units. Other types of housing that are prevalent in Colorado Springs include large apartment complexes or high rise apartments ( 21.74%), row houses and other attached homes ( 8.12%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.17%).

The most prevalent building size and type in Colorado Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.72% owning and 42.28% renting.

There is a lot of housing in Colorado Springs built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Colorado Springs built between 2000 and later ( 20.38%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.16%). There's also some housing in Colorado Springs built before 1939 ( 5.87%).

Colorado Springs Home Appreciation Rates

In the last 10 years, Colorado Springs has experienced some of the highest home appreciation rates of any community in the nation. Colorado Springs real estate appreciated 42.84% over the last ten years, which is an average annual home appreciation rate of 3.63%, putting Colorado Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Colorado Springs definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Colorado Springs that despite a nationwide downturn in the housing market, Colorado Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Colorado Springs appreciation rates continue to be some of the highest in America, at 7.32%, which is higher than appreciation rates in 77.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Colorado Springs. Colorado Springs appreciation rates in the latest quarter were at 1.28%, which equates to an annual appreciation rate of 5.24%.

Relative to Colorado, our data show that Colorado Springs's latest annual appreciation rate is higher than 70% of the other cities and towns in Colorado.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Colorado Springs differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Colorado Springs - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Colorado Springs real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$299,678

Colorado Springs, CO HOME PRICES

Value Range
> $1,344,000 1.1
$1,007,001 - $1,344,000 1.2
$671,001 - $1,007,000 5.1
$537,001 - $671,000 7.3
$403,001 - $537,000 15.3
$269,001 - $403,000 32.1
$134,001 - $269,000 30.3
$67,001 - $134,000 3.2
$0 - $67,000 4.3

Average for CO
Very High for Nation

Value Relative to Nation Value Relative to State
19.3722627737226 55.2173913043478

Number Of Homes And Apartments:
176,026

Colorado Springs Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
78.53% 3.06%
4
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,441 / per month

Homeownership Rate

Homeownership
Owners 57.72
Renters 42.28
Vacant 5.67

Housing Market Details

 

Age of Homes

AGE OF Colorado Springs HOMES
2000 or Newer 20.4
1970 - 1999 53.6
1940 - 1969 20.2
1939 or Older 5.9

Types of Homes

TYPE OF Colorado Springs HOMES
Single-Family 61.9
Townhomes 8.1
Small Apt. Buildings 6.2
Apt. Complexes 21.7
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Colorado Springs HOMES
No Bedroom 1.94
1 Bedroom 12.32
2 Bedrooms 23.82
3 Bedrooms 29.19
4 Bedrooms 22.24
5 or more bedrooms 10.49