Home Values in Colorado Springs, Colorado — 2026 Market Report
Updated March 2026 | Balanced Market | +3.4% YoY
The median home value in Colorado Springs, Colorado is $430,000 as of March 2026, which is above the national median of $400,000. Home values in Colorado Springs have increased by 3.4% over the past year and 18.2% over the last five years. With a population of 478,961 and a median household income of $63,858, the price-to-income ratio stands at 6.7x, making Colorado Springs affordable for the average household.
Colorado Springs Housing Market Conditions
| Metric | Colorado Springs | National Avg |
|---|---|---|
| Median Home Value | $430,000 | $400,000 |
| YoY Appreciation | +3.4% | +3.8% |
| 5-Year Appreciation | +18.2% | +22.4% |
| Price per Sq Ft | $200 | $222 |
| Days on Market | 45 days | 45 days |
| Months of Supply | 3.4 | 3.5 |
| List-to-Sale Ratio | 97.4% | 98.5% |
| Monthly Homes Sold | 301 | — |
| Foreclosure Rate | 0.43% | 0.3% |
Home Value Trends in Colorado Springs
A homeowner who purchased at the median price of $363,790 five years ago in Colorado Springs would have gained approximately $66,210 in equity, representing a 18.2% return on investment. Over the past year alone, the typical homeowner gained $14,139 in home equity.
Affordability in Colorado Springs, CO
With a median household income of $63,858 and a median home price of $430,000, the price-to-income ratio in Colorado Springs is 6.7x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,599 compared to estimated monthly ownership costs of $2,225 gives a rent-vs-buy ratio of 0.86. In Colorado Springs, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Colorado Springs
The effective property tax rate in Colorado is 0.51%. On a home valued at $430,000, the estimated annual property tax bill is $2,193, or approximately $183/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Colorado Springs is 99.5 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Colorado Springs, CO?
The median home value in Colorado Springs, Colorado is $430,000 as of March 2026. Home values have changed +3.4% over the past year, with a 5-year appreciation of 18.2%.
Is Colorado Springs a buyer's or seller's market?
Colorado Springs is currently a balanced market with 3.4 months of housing supply. Homes spend an average of 45 days on market, and the list-to-sale price ratio is 97.4%. Supply and demand are relatively balanced.
Are home values going up in Colorado Springs?
Yes, home values in Colorado Springs have increased by 3.4% over the past year. The 5-year appreciation rate is 18.2%, meaning a home worth $363,790 five years ago is now worth $430,000.
Is it better to rent or buy in Colorado Springs?
The average monthly rent in Colorado Springs is $2,599, while estimated monthly homeownership costs are approximately $2,225. The price-to-rent ratio is 13.8. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Colorado Springs, Colorado is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.