According to a recent study, Colorado is the second fastest growing state in the U.S.A. in 2017. And in the first quarter of 2017, Colorado Springs (aka The Springs) was named the nation’s hottest housing market that homebuyers are moving to out of 120 metro areas examined. So, what’s the deal with The Springs?
As is customary in The Springs this time of year, home prices are dropping and it’s a bit of a buyer’s market. If you’re buying a home in the area, now may be a good time to do so. Though available inventory is dropping, it’s looking like you can still close on a home with a median price of $275,000 in less than 30 days.
Besides that, Colorado Springs is an attractive place for business. With an educated, fit population in their mid-thirties, continued and steady economic growth, and attractive incentives to businesses, the job market is looking as good as commercial real estate development continues to grow.
Cost of Living
If the median cost of living in the United States is 100, then Colorado Springs is a little above average at 105, meaning it costs 5% more to live there than other places in the U.S. The biggest difference is that Colorado Springs’ housing is 24% higher than the rest of the country. This comprehensive breakdown of what things cost show actual costs from food to healthcare.
The Real Deal with The Springs
Honestly though, Colorado Springs is stunning. At over a mile-high and (essentially) home to Pike’s Peak, the place is literally and metaphorically breathtaking. It ranked #1 mid-sized city in fDI’s “Cities of the Future 2017/8” for human capital and lifestyle; and #2 on US News and World Report’s annual “The 25 Most Desirable Places to Live in 2017” which is based on affordability, job market, and population growth.
When folks talk about living on the Front Range, they get a look in their eye. You can almost see the orange red outcroppings of the Garden of the Gods, the vistas from and of Pike’s Peak, and the sight of the Broadmoor lit up at night. It’s no wonder that this is where “America the Beautiful” was penned. The air is so clean and crisp the higher you go—and it just makes all the roasted green chiles washed down with craft beer taste that much better.
Are you a company relocating to The Springs? We can help you move your business as well as your employees and their families. Give us a call at 800-289-6683 to see how we can make your move affordable and as stress-free as possible.