Moving to Colorado Springs, CO

Thinking about moving to Colorado Springs?

You’ll be in good company. Between 2010 and 2016, more than 48,674 people have moved to Colorado Springs, an increase of 11.7%. New residents are attracted to Colorado Springs’s sense of community, small-town charm, healthy living, and exquisite nature.

Living

Colorado Springs is home to 465,101 Springsteens. With an area of 194.5 square miles, Colorado Springs has a population density of 2,391 persons per square mile, which makes it less dense than many other cities of comparable size.

The Colorado Springs, CO Metropolitan Statistical Area boasts a population of 712,327 people, of which Colorado Springs proper’s population makes up 65%.

Housing

One of the drawbacks of all of Colorado Springs’s growth and livability are its relatively high housing prices. The median home value in Colorado Springs is $252,800, 26% above the US median value, according to Zillow. The median price per square foot in Colorado Springs is $137. Over the past 5 years, home values in Colorado Springs have increased by 6%.

Renters in Colorado Springs will also have a hard time finding affordable housing. The median rent in Colorado Springs is $1,437 per month and over the past year, rental rates in Colorado Springs have increased by 5.0%.

Economy

Colorado Springs’s economy has been a bit sluggish over the past few years. The Colorado Springs metro area’s GDP grew by 13% between 2011 and 2016, from $27.7 billion in 2011 to $31.3 billion in 2016, a total increase of $3.6 billion. The metro area has a per capita GDP of $44,047. According to the US Census Bureau, the median household income in Colorado Springs is $58,414, 1% lower than the national median. Colorado Springs’s unemployment rate is 3.1%.

Weather

The average annual temperature in Colorado Springs is 48.95 degrees. The average annual low temperature is 35.8 degrees, while the average annual high is 62.1 degrees. Colorado Springs’s hottest month is July, during which the average high temperature is 85 degrees, while the coldest month is December, when the average low drops down to 17 degrees.

Colorado Springs sees an average rainfall of 16.56 inches per year. August is the wettest month, with an average rainfall of 3.35 inches, while January is the dryest month, with an average rainfall of 0.31 inches.

Crime

Colorado Springs is a safe city, with a violent crime rate of only 438 incidents per 100,000 persons according to the FBI, a lower rate than average. Property crime rates in Colorado Springs are relatively low, with a rate of 3,648 incidents per 100,000 persons, a lower rate than average.

Traffic & Transportation

Traffic is not as big of a problem in Colorado Springs as it is in many other US cities. According to a survey conducted by INRIX, the average commuter in Colorado Springs spends 15.5 hours in traffic each year, with about 6% of their time commuting in a traffic jam, a lower portion than average among US cities.

Walk Score gives Colorado Springs a walk score of 36.

Cost of Living

Colorado Springs is a relatively affordable place to live with a low cost of living. According to the Bureau of Economic Analysis‘s Regional Price Parity survey, which takes into account cost of living metrics including the price of goods and services and housing, Colorado Springs has a regional price parity of 109.2, -0.3% below the average for US metro areas.

Demographics

The median age in Colorado Springs is 34.3 years. 50.1% of the population in the Colorado Springs metro area is male, while 49.9% is female. 7.% of the metro population is foreign born.

In terms of racial demographics, Colorado Springs is 69.2% Non-Hispanic White, 17.5% Hispanic, 6.3% Black, and 2.6% Asian.

94.1% of those over the age of 25 in Colorado Springs have a high school diploma, a higher rate than nationally. 40.3% of those over the age of 25 have a bachelor’s degree, which is higher than the national rate. 15.9% of residents have an advanced or professional degree.

In the 2016 presidential election, 57% of Colorado Springs voters voted for the Republican nominee, while 34% voted for the Democratic nominee.