Real estate has become a popular avenue for people looking to diversify their income streams and potentially hedge against inflation. Whether you’re a seasoned pro or just getting started in investing, Colorado Springs, CO, is certainly worth considering.

Nearing the base of Colorado’s famous Pikes Peak, the city of Colorado Springs was intended to be a mountain resort town, but over the years has grown into a thriving community for Colorado residents. Often referred to as “The Springs” by locals, this city is the second most populous in the state of Colorado and has plenty of exciting entertainment, night life, and infrastructure to keep population on the rise. 

Given its position just south of the state’s capital city Denver, as well as its proximity to Pikes Peak and other national forests/parks, Colorado Springs truly offers the best of both worlds for residents looking for a nature-filled escape without sacrificing the conveniences of urban living. 

But what about the Colorado Springs real estate market in April 2024? What do stats and trends look like contemporarily? Facts and figures are constantly changing, so we’ve gathered all the most up-to-date information for you.

Here are some of the top trends for the Colorado Springs real estate market (April 2024):

Colorado Springs General Statistics

• Population (city proper): 492,204 (up .1% since 2019)

• Population (metro area): 765,424 

• Area (city proper): 201.8 sq. mi. 

• Area (metro area): 2,683.6 sq. mi.

• Median Age: 36 

• GDP (metro area): $47.9 Billion

• Unemployment rate (metro area): 3.9% (up .3% Since December 2023)

• Top employers: Valdez International, Compassion International, Spectranetics, Vectrus, Infinity Systems Engineering, Colorado College, WCS, Arc Thrift Shops, Rivada Networks, California Casualty. 

• Highest paying jobs: Oral and Maxillofacial Surgeon, Anesthesiologist and Pain Management Specialist, Physician-Pediatrician, Cardiologist, Obstetrics Gynecologist Physician, Psychiatrist, Operator and Truck Driver, Hospitalist Physician, Resident Physician in Radiology, Physician. 

• Median income (per capita): $42,465

• Median income (household): $78,568

Colorado Springs Real Estate Market (April 2024) Statistics

• Neighborhoods: 141

• Homes for sale as of April 2024: 2,097 

• Median list price: $459K (down 1% % since December 2023)

• Median sold price: $425K (down 1% Since December 2023)

• Sale-to-list price ratio: 100%

• Median price per square foot: $224 

• Median days on market: 34 (down 26% since December 2023)

• Rental vacancy rate: 6%

• Homeowner vacancy rate: 1.4%

• One-year appreciation rate: .4%

• Average rent: $1,547 (up .01% since March 2023)

• Price-to-rent ratio: 21.88

• Most expensive neighborhoods:  

• Least expensive neighborhoods:

Final Thoughts: Colorado Springs Real Estate Market (April 2024) Trends

The Colorado Springs real estate market is constantly changing and evolving. But the potential for investors to profit is near-constant. Whether you’re an experienced real estate investor or brand new to the industry, the Colorado Springs real estate market could provide ample opportunity to build your portfolio.

Get Started Buying Homes With Evernest

Whether you’re purchasing one Colorado Springs home or one hundred, you don’t have to go it alone. 

If you’re ready to buy your first (or next) investment property, here are three steps to get started today:

• Subscribe to our podcast: The Evernest Real Estate Investor Podcast—for all things real estate investing, being a landlord, growing your portfolio, and more. 

• Find a property: Make sure you sign up for our Pocket Listings to get notified of all the deals that come across our desk daily.

• Get an investor-friendly agent: We can help with that—we would love to help you buy your next rental property investment.

This content was originally published on Evernest.co.