Top 8 Affordable Places to Live in Colorado Springs

By
Real Estate Agent with Wagner iTeam -Keller Williams Realty

More than half the homes in Colorado Springs are affordable to the average American family.

According to the 2009 1st Quarter Housing Opportunity Index, housing affordability is at the highest level it has been in 18 years! (Colorado Springs Real Estate Journal, Vol. 1 No. 18 “Housing affordability surges to highest level in 18 years”)

They based this off of home prices vs. the national median income of $64,000 a year.

Housing Opportunity Index

Basically, if you make $64,000 a year, you can afford a $250,000 home* (if you pay about $600 a month in car/credit card payments, get a fixed interest rate of about 5% and put about 20% down, with about $1,000 a year in homeowners insurance and $1,200 a year in property taxes). (Check Out the Bank Rate Calculator)

*All home loans are subject to credit approval and you may qualify for more, less or nothing based on your unique situation. Contact a local, reputable bank or lender for more information.

Read Also: How Does Your Debt Compare?

Read the Full Report: Top 8 Affordable Colorado Springs Neighborhoods for 1st Quarter 2009

Top 8 Affordable Colorado Springs Neighborhoods:

Here are the most affordable areas in Colorado Springs, based on median sales prices for the 1st quarter of 2009.

1. Southeast Colorado Springs Homes: Median Sale Price: $109,900

Check out the Southeast Colorado Springs real estate info and home searches

 

2. Central and Downtown Colorado Springs Homes: Median Sale Price: $119,800

Check out the Central and Downtown Colorado Springs real estate info and home searches

 

3. Old Colorado City Homes: Median Sale Price: $150,000

Check out the Old Colorado City real estate info and home searches

 

4. East Colorado Springs Homes: Median Sale Price: $160,000

Check out the Eastside Colorado Springs real estate info and home searches

 

5. West Colorado Springs Homes: Median Sale Price: $160,800

Check out the Westside Colorado Springs real estate info and home searches

 

6. Powers Area Colorado Springs Homes: Median Sale Price: $188,000

Check out the Powers Area Colorado Springs real estate info and home searches

 

7. Northeast Colorado Springs Homes: Median Sale Price: $190,000

Check out the Northeast Colorado Springs real estate info and home searches

 

8. Marksheffel Area Colorado Springs Homes: Median Sale Price: $216,000

Check out the Banning Lewis Ranch real estate info and home searches

 

Based on this information, there are HUNDREDS of affordable homes for sale in Colorado Springs.

Read Also: Top 5 Most Expensive Colorado Springs Neighborhoods for 1st Quarter of 2009

Search ALL Homes For Sale in Colorado Springs

“Based on information from the Pikes Peak REALTOR Services Corp. (”RSC”), for the period January 1, 2009 through March 31, 2009.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market.”

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Thanks for reading our Colorado Springs Real Estate Blog!
Posted By: Mariana Wagner - Colorado Springs Real Estate Agent - Wagner iTeam
The Wagner iTeam is a power team of Keller Williams Realty,
specializing in Colorado Springs Real Estate and Monument Real Estate

719.434.7525

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Topic:
Real Estate Market Trends
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Colorado El Paso County Colorado Springs
Groups:
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Colorado Springs Neighborhoods
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Tags:
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colorado springs real estate

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Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

Hi Marianna, I really like your local posts.  I should be doing more of this for my market.

Jun 04, 2009 10:12 AM #1
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Derek and Mariana Wagner

Wagner iTeam - Colorado Springs REALTORS®
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