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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 483,956 people, 188,699 houses or apartments, and a median cost of homes of $437,564, 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 61.31% of the city's housing units. Other types of housing that are prevalent in Colorado Springs include large apartment complexes or high rise apartments ( 22.38%), row houses and other attached homes ( 8.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.19%).
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 59.97% owning and 40.03% 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 ( 24.57%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.37%). There's also some housing in Colorado Springs built before 1939 ( 5.54%).
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 120.60% over the last ten years, which is an average annual home appreciation rate of 8.23%, putting Colorado Springs in the top 20% 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.
Over the last year, Colorado Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Colorado Springs's appreciation rate has been -5.32%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Colorado Springs were at 2.48%, which equates to an annual appreciation rate of 10.31%.
Relative to Colorado, our data show that Colorado Springs's latest annual appreciation rate is lower than 90% 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.
$2,388 / per month