As I’m writing this in July 2026, I’m reflecting on the question we hear often – especially from those relocating to our region. Why is it so expensive to live here?

As of June, the median home price for single-family homes in Colorado Springs is $470,000. This can present a bit of sticker shock for those coming into our housing market from other areas. To compare, the National Association of Realtors (NAR) estimates the median home price nationally to be $440,000 (for single-family homes and condos/townhomes). This isn’t much lower than our local cost, but remember the national median includes some homes in rural areas where land is more plentiful and the cost of living is lower …and homes in hyper-expensive metropolitan and coastal areas, which bring that number up.


Colorado Springs recently commissioned a Regional Housing Needs Assessment. This report highlights one of our biggest local challenges: inventory shortage. The report explains that years of rapid population growth paired with lagging new home construction have created a supply gap. When you have high demand for homes along the Front Range, but a limited pool of inventory, prices naturally climb.

Meanwhile, national trends are compounding the issue. The NAR article I linked above shows a 2.4% dip in existing-home sales nationwide as buyers cool off due to less attractive mortgage rates. However, because inventory remains tight across the West, in many areas, home prices hit all-time highs this summer. We see this dynamic play out daily in our local market—buyers are highly sensitive to rate hikes, yet low supply prevents prices from dropping.

What does this mean looking forward? Depending on how our region adapts, the future could go a couple of ways. If local development remains tempered by local restrictions, expect prices to climb even higher. Alternatively, if local municipalities adopt the recommendations in the Regional Housing Needs Assessment to diversify housing types—like adding more townhomes, duplexes, and multi-family options—supply could start to stabilize, flattening the price curve. To be honest, what we’re seeing in our office is that there is more demand for single-family homes right now.

Don’t let this news deter you if you’re thinking of making a move. There are some ways that you can prepare.
– Prioritize Debt Reduction: A strong debt-to-income ratio gives you more leverage with lenders.
– Get Creative with Financing: Explore down-payment assistance programs, fight for a rate buy-down, or shop adjustable-rate mortgages (ARMs) that let you secure the home now and refinance later.
– Broaden Your Search: Be ready to expand your geographic radius or consider townhomes as an excellent starter home.

The market requires strategy, but with the right preparation, homeownership in our region is absolutely achievable.