Quick facts: Colorado springs, CO

Quick Facts

105.2
Cost of Living
above US average
486,248
Population
42.18
Crime Rate per 1000
above US average
$79,026
Median Income
below US average
$459,000
Median House Price
above US average
$1962.5
Average Rent
above US average
11%
Poverty Rate
above US average
4.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $79,026.

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Income Needed to Buy

βœ— Stretch
$144k/year
Based on $459,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $144k vs median $79,026
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Income Needed to Rent

⚠ Stretch
$84k/year
Based on $1962.5/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $84k vs median $79,026
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Colorado springs, CO

Colorado Springs, nestled at the base of Pikes Peak in southern Colorado, is known for its stunning natural scenery and outdoor recreational opportunities. With a population of over 490,000, it's the second-largest city in Colorado. The city is renowned for its picturesque views, particularly from the Garden of the Gods, a public park featuring towering sandstone rock formations. Colorado Springs offers a rich history, being home to landmarks such as the U.S. Olympic & Paralympic Training Center and the Manitou Incline, a challenging hiking trail with steep elevation gain. The city embraces a vibrant culture, with numerous art galleries, theaters, and annual events like the Colorado Balloon Classic. Outdoor enthusiasts can explore a plethora of parks and trails, including Red Rock Canyon and Seven Falls, while the nearby Pikes Peak offers year-round activities such as hiking, biking, and scenic drives. The mild, sunny weather makes it an attractive destination year-round. With a blend of natural beauty, history, and community, Colorado Springs is a captivating place to live or visit.

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