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Real Estate Colorado Springs Colorado - Real Estate in Colorado Springs, Colorado

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3 miles northwest of the Air Force Academy in Colorado is a town that has been recognized by many national publications as one of the best cities to live in. Colorado Springs, with its estimated population of 380,000, is situated near the base of Pikes Peak and boasts an elevation above sea level of over 6,000 feet. The actual city covers just over 186 square miles, which makes it Colorado’s largest city in terms of area. With an estimated median household income of just over $56,000, Colorado Springs is a town which offers residents great opportunities to find value in various real estate endeavors.

With a housing density of 800 homes/condos per square mile, there are plenty of opportunities for people looking for real estate to find what they are looking for. There is also a great deal of wide open mountain ranges and vacant land, which allows for some incredible views of nature’s structures.

Colorado Springs has not been averse to recognizing some of the effect of the recent housing crash, as the city has witnessed their house sales drop rapidly over the past two or three years. The average home is now selling for $190,000, which is slightly lower than 2006’s all-time high of $220,000. The median asking price for a home in Colorado Springs is approximately $315,000 with the median rental property costing just under $700.

The actual housing structures in Colorado Springs are relatively new as the vast majority were built between 1960 and 2000. These homes were usually constructed with three or four bedrooms, two bathrooms, kitchen, dining area, and living room area. The average condo/apartment is going to have one or two bedrooms with one to one-and-a-half bathrooms.

A majority of the homes in Colorado Springs are valued somewhere between $150,000 and $400,000 while the standard rental unit will run anywhere between $500 and $900. Travel times to work from Colorado Springs residences vary greatly, but the median time is usually around 15-20 minutes.

Colorado Springs is home to a wealth of attractions, parks, and recreation activities that the entire family can enjoy. The honors bestowed upon the city are well deserved, as Colorado Springs should continue to prosper well into the future.

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