Is it expensive to rent in Colorado Springs?

Is it expensive to rent in Colorado Springs?

Data shows that the average cost is now close to $1,500 per month. COLORADO SPRINGS — The cost to rent an apartment in Colorado Springs is at a new record high. Data shows median rents in Colorado Springs stand at $1,200 for a one-bedroom apartment and $1,496 for a two-bedroom.

Why is Colorado Springs rent so high?

“Essentially what we found is that rent is going up so quickly, because people are leaving major metropolitan cities like LA, NYC and Boston and moving to places like Colorado Springs. That has really driven the cost up, when we look at Colorado specifically. Back to the basics of supply and demand.

Will rent prices go down in Colorado Springs?

Colorado Springs rents have increased by 1.38% compared to last month, and are up by 11.23% compared to last year.

What salary do you need to live comfortably in Colorado Springs?

Most financial advisors recommend spending no more than 30 percent of your annual income on rent. This means you would need to earn around $40,960 per year to comfortably afford a one-bedroom apartment in Colorado Springs.

How much do you need to live comfortably in Colorado Springs?

Typical Expenses

0 Children 0 Children
Required annual income after taxes $28,668 $45,987
Annual taxes $6,507 $10,439
Required annual income before taxes $35,175 $56,425

How much money do you need to live comfortably in Colorado Springs?

How much does it cost to live in Colorado Springs?

Colorado Springs cost of living is 104.5

COST OF LIVING Colorado Springs Colorado
Grocery 98.4 100.7
Health 95.1 95.8
Housing 124.5 166.1
Median Home Cost $410,900 $488,600

Where is the cheapest place to live near Colorado Springs?

Consider these five safe, affordable neighborhoods in Colorado Springs before you settle down!

  • Briargate.
  • Northeast Colorado Springs.
  • Northgate.
  • Northwest Colorado Springs.
  • Old Colorado City.

What is the best area to live in Colorado Springs?

Best Places to Live in Colorado Springs

  1. Briargate. Located in northeast Colorado Springs, Briargate is one of the up-and-coming areas to live in with its modern suburbs and shopping centers nearby.
  2. Rockrimmon.
  3. Broadmoor.
  4. Pleasant Valley.
  5. Peregrine.
  6. The Farm.
  7. Black Forest.

Why you should leave Colorado?

Denver housing is more unaffordable for middle class than nearly any US metro. Denver has the 10th fastest-rising rent over the last year. Colorado transportation costs are 6% higher than the national average. Colorado has the highest car theft levels in the country, with a 32% increase over the last year.

Is Co a good state to retire in?

Colorado is a great state for retirees thanks to its high life expectancy, the presence of outdoor adventures, and exciting indoor cultural experiences for the days you don’t want to go skiing. How much do I need to retire in Colorado.

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