Colorado Springs, CO mortgage & affordability calculator
The typical home in Colorado Springs, CO is worth about $440,000.
With 20% down that's a loan near $352,000 — the calculator
is pre-filled with that figure. Colorado Springs benefits from the same low statewide property tax rate as Denver but at meaningfully lower home prices, thanks to a large military and defense-contractor presence anchoring demand. Hail remains the dominant factor pushing insurance premiums above the national average.
$2,285.41 / month
Total interest
$470,743
Total paid
$822,743
Payoff
30.0 years
How much you need to earn
Colorado Springs, CO's median household income is about
$78,000 a year. Under standard 28/36
lending rules that supports a home price around
$314,667 with 20% down —
below the $440,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Colorado Springs, CO is about $1,750 a month, so owning the median home costs roughly
$884 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Colorado Springs, CO?
On the metro's roughly $440,000 typical home with 20% down, the loan is about $352,000. Principal and interest run near $2,285 a month at today's rate, and Colorado Springs, CO's property tax plus insurance add about $348, for a full payment near $2,634.
Can I afford a home in Colorado Springs, CO on the median income?
The median household income is about $78,000 a year. Under standard 28/36 lending rules that supports a home price around $314,667 with 20% down — below the $440,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Colorado Springs, CO?
Typical asking rent is about $1,750 a month. The full owner payment on a median home is near $2,634, so owning costs roughly $884 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Colorado Springs, CO?
The effective property tax rate in the core county is about 0.45% of market value — roughly $1,980 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Colorado Springs, CO rising or falling?
Home values are roughly flat over the past year. Colorado Springs benefits from the same low statewide property tax rate as Denver but at meaningfully lower home prices, thanks to a large military and defense-contractor presence anchoring demand. Hail remains the dominant factor pushing insurance premiums above the national average.