Recently MSN’s real estate channel named Colorado Springs as one of the Sixty Six Cities where Buying Makes Sense .  One of the criteria MSN used to determine where it made sense to buy was whether average three-bedroom rental costs were higher than the cost of a 6% loan for a typical low-priced house.

Why Colorado Springs?
Central Colorado Springs consists of many unique homes built at the turn of the century, and also homes that were built as late as the 1960s. Most homes in the Northeast, East, and Southeast were built between the 60s and the 90s, with the average price per square foot in these areas falling between $95-$115, with the Southeast being one of the least expensive areas in the city locals know as “the Springs.”

Colorado Springs is second only to Denver as Colorado’s most populous and widespread area.  It’s home to countless business enterprises, thousands of households, and the University of Colorado at Colorado Springs and Colorado College.

Today there are 189 Colorado Springs property listings
Min price: $15,250
Median price: $330,900
Avg price: $497,064
Max price: $4,300,000
(Check Colorado Springs listings often, as data changes daily.)

What Next?
An important consideration for renters looking to make the leap is credit history.  Contact a Colorado mortgage professional today to ask whether it makes sense for you to buy, and when.