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.

I don’t know about you, but I cannot imagine our home without pets.  I’ve had one or more dogs living with me since I bought my first house (which is now a rental, by the way).  The vast majority of my friends are pet owners, as well.  

Now, I’ve only ever held a Colorado real estate license, so I don’t really know what it’s like in other states.  Trust me when I say that Coloradans are a pet-lovin’ group of people.  And why not?  We have pet-friendly trail systems and dog parks galore.  Having a pet often fulfills psychological and physiological needs for humans.    

So, when I say it’s important to consider allowing pets in your rental, I’m not saying this because I wouldn’t consider leaving our dog, Milo, behind if we moved.

I’m saying it because many of our prospective tenants are moving with their own lovable companions.  

When we meet prospective landlords for the first time, this is something that comes up often.  Should I allow pets in my rental property?  The short answer here is, yes.  We’ve been managing properties in the Pikes Peak Region since 2006.  Time and time again, I’ve seen landlords stick to a strict “no pet” policy only to see it cost them more in vacancy expense than any pet damage ever could.  

Do pets cause damage?  Of course.  This is a real risk.  However, disallowing pets shrinks the prospective tenant pool considerably.  This doesn’t mean we’re going in blind though.  We can mitigate some of this risk by screening prospective tenants to specifically see if the pet caused damage in previous homes.  

It’s also important to familiarize yourself with what breeds are allowed by your homeowner’s insurance policy.  Deciding to allow pets doesn’t mean you have to invite Cujo horror into your life.  There are plenty of ways to establish some boundaries.  For example, how many pets are okay?  Would a weight limit for dogs be helpful?  What kinds of pets would best be served by the property type?

So, if you’re considering renting a home (or reevaluating your pet policy on an existing rental), I’d really suggest you think about welcoming in some furry, scaly, feathered friends.