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.
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%.
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%.
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%.