Colorado Springs, CO variant. This is a Colorado Springs, CO-specific version of the Home Affordability Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Home Affordability Calculator.
Affording a home in Colorado Springs pits the $80,958 median income against a $460,000 median price - a price-to-income ratio of 5.7x.
Can you afford Colorado Springs?
The 28% rule caps housing at $1,889/month on the local median income, supporting roughly $373,579 in price - versus the $460,000 Colorado Springs median.
Colorado Springs is a stretch on the median income; many buyers need higher earnings, more down, or co-borrowers.
About Colorado Springs, CO
Colorado Springs applies Colorado state and local sales taxes, with a flat state income tax.
Colorado Springs home prices have climbed above the national average in recent years.
Colorado Springs has a strong military and defense presence, with a cost of living somewhat above the national average.
Worked example: max price on $80,958
28% of $80,958 ÷ 12 ≈ $1,889/month supports about $373,579 at 6.5% with 20% down - compared with the $460,000 median.
Quick reference
- Median home value: $460,000
- Median rent: $1,750/mo
- Median household income: $80,958
- Local sales tax: 8.2%
- Effective property tax rate: 0.42%
- Cost of living index: 105 (US avg = 100)
Frequently Asked Questions
What income do I need to buy in Colorado Springs?
To afford the $460,000 median home, you'd typically need well above the $80,958 local median income at current rates.
What is the price-to-income ratio in Colorado Springs?
About 5.7x (median home ÷ median income).