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Which Areas in Colorado Springs Have Appreciated the Most?

Which Areas Have Appreciated The Most in Colorado Springs

Colorado Springs and the Pikes Peak region have experienced positive appreciation in our local real estate market for the last 10-years straight. Some areas have appreciated much faster than others.

If you're looking to buy a home in the fastest appreciating areas, this resource will help you determine where to invest your time. We gathered data from every zip code around El Paso and Teller Counties to determine which zip codes appreciate at the highest rate. The results are interesting.

It's hard to determine appreciation rates by sales prices alone, so we combine the median sales price with the price-per-square-foot to get the most accurate results. We placed all of the data in a spreadsheet below to study it to make your conclusions.

You can click on each zip code to view homes for sale in that area and become familiar with the different parts of town.


2021 Zip Code Appreciation Map

Colorado Springs Area 5-Year Zip Code Appreciation Map 2015 - 2020 80863 #7 80132 #28 80133 #21 80921 #27 80840 Air Force Academy 80106 #10 80908 #26 80831 #25 80920 #24 80924 #30 80918 #11 80919 #23 80904 #13 80809 #19 80829 #20 80906 #15 80926 80913 Fort Carson 80902 80914 80817 #6 80911 #12 80916 #8 80910 #1 80925 #22 80929 Schriever AFB 80905 #14 80903 #4 80909 #2 80907 #9 80915 #3 80917 #5 80914 80922 #17 80938 80923 #18 80939 80927 #29 80951 #16 Click Any Zip Code
Color Index
Color Explanation
# Zip Code 2015 Price 2020 Price Price Increase 2015 PPSF 2020 PPSF PPSF Increase OVERALL INCREASE
1 80910 $135,000 $270,000 100% $90 $163 81.1% 90.6%
2 80909 $175,000 $300,000 71.4% $98 $166 69.4% 70.4%
3 80915 $178,950 $300,750 68.1% $100 $170 70.0% 69.0%
4 80903 $200,000 $330,900 65.5% $134 $224 67.2% 66.3%
5 80917 $185,000 $315,000 70.3% $102 $161 57.8% 64.1%
6 80817 $195,450 $316,000 61.7% $95 $157 65.3% 63.5%
7 80863 $252,000 $425,000 68.7% $122 $192 57.4% 63.0%
8 80916 $159,235 $237,750 49.3% $94 $165 75.5% 62.4%
9 80907 $207,000 $333,000 60.9% $119 $194 63.0% 61.9%
10 80106 $354,000 $583,000 64.7% $117 $185 58.1% 64.1%
11 80918 $212,950 $345,000 62.0% $103 $162 57.3% 59.6%
12 80911 $189,900 $295,000 55.3% $99 $161 62.6% 59.0%
13 80904 $217,500 $355,000 63.2% $136 $204 50.0% 56.6%
14 80905 $207,967 $330,000 58.7% $128 $197 53.9% 56.3%
15 80906 $255,120 $395,000 54.8% $114 $174 52.6% 53.7%
16 80951 $219,900 $334,000 51.9% $99 $152 53.5% 52.7%
17 80922 $224,900 $340,000 51.2% $98 $147 50.0% 50.6%
18 80923 $238,000 $364,900 53.3% $105 $154 46.7% 50.0%
19 80809 $280,000 $377,500 34.8% $126 $208 65.1% 50.0%
20 80829 $280,000 $432,000 54.3% $156 $226 44.9% 49.6%
21 80133 $259,000 $376,950 45.5% $127 $194 52.8% 49.1%
22 80925 $245,190 $355,000 44.8% $96 $147 53.1% 49.0%
23 80919 $300,000 $443,000 47.7% $108 $157 45.4% 46.5%
24 80920 $270,000 $400,000 48.1% $106 $149 40.6% 44.4%
25 80831 $281,000 $399,925 42.3% $95 $136 43.2% 42.7%
26 80908 $361,625 $499,925 38.2% $112 $163 45.5% 41.9%
27 80921 $384,986 $552,364 43.5% $111 $155 39.6% 41.6%
28 80132 $388,000 $550,000 41.8% $113 $159 40.7% 41.2%
29 80927 $308,135 $400,000 29.8% $104 $146 40.4% 35.1%
30 80924 $385,000 $506,110 31.5% $113 $148 31.0% 31.2%

* The column that says "PPSF" stands for price-per-square-foot. The sales prices are taken from the median sales price for each zip code.

As you'll notice from the infographic above, different neighborhoods in Colorado Springs have varying results in market appreciation. Some areas will appreciate twice as fast as others. One thing is sure; every part of Colorado Springs has appreciated well. The lowest zip code on the list still increased by 31.2% over the last five years.

Black Knight, INC., shows that the average inflation rate for real estate in America hovers around 3.9%. Our lowest appreciating zip code in Colorado Springs appreciated at a rate of 6.24% per year. Every zip code in Colorado Springs gained equity at a rate higher than the national average for the last five years. That's an impressive claim.

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How fast are home prices rising in Colorado Springs?

Let's take a look at the last ten years of sales history in the Pikes Peak region to understand better exactly how much our market has grown. These numbers are current as of March 2021.

Colorado Springs Median Sales Price Over the Last 10-Years

Colorado Springs Median Home Values Over 10 Years

Notice how Colorado Springs has appreciated nearly every year since 2012. By 2015, we were back to the same median home price as before the Great Recession. This steady increase is the reason why we decided to go five years back in our research. This period is beneficial for determining the best areas to buy a home based on market appreciation.


Why are home prices rising so fast?

The supply of available homes for sale in Colorado Springs is way too low to meet home buyers' demand. Let's take a look at the last ten years of available homes for sale in Colorado Springs. This chart represents the amount of active listing every March for the last 10-years.

Colorado Springs Active Listings in March Over the Last 10-Years

Colorado Springs Active Housing Inventory Over 10 Years

Look at the dramatic drop in inventory for March 2021. This is the main reason why Colorado Springs and the Pikes Peak area have experienced skyrocketing sales prices. The housing market can not sustain this kind of inventory shortage without dramatically affecting the local market.


What facts are revealed from the Appreciation Map?

We find three main points of interest most relevant from the data that we have collected.

  1. The top 5 zip codes are all close to downtown Colorado Springs.
  2. The zip codes with the most expensive homes were typically near the bottom of the list.
  3. The zip codes with the most newly built neighborhoods tend to appreciate slower than others.

These facts are true for most cities. Homes that are near the epicenter of the city tend to have higher demand. Homes in the upper price ranges tend to have less demand, as fewer people can afford them. Also, homes that are newly built sell for 10% to 20% more than existing homes, so they tend to appreciate slower in the first few years.

There are more interesting facts that we can gather from this data. For instance, if a person bought two investment properties near downtown 5-years ago, they experienced a better appreciation rate than someone who bought a high-end home in a new community at the same time.


Is the Colorado Springs Real Estate Market Expected to Continue These Trends?

Everyone wants to know the answer to this question, but the honest answer is that no one knows. This data is provided as a point of reference to reflect on, but not as a guarantee of what's to come in the future.

Many people predict another market crash sometime within the next year or more, which would change appreciation rates. If that does happen, you can be sure that we will publish a depreciation map to help you keep track of the changes.

This data does not guarantee that you can invest in real estate near downtown Colorado Springs and do better than you would in Northgate or Black Forest. It's general information over every home sold within our local MLS. Multiple factors can change the outcome of a home's appreciation, which is not a part of this study.

Within every area, there are always specific deals that do not conform to these averages. We advise you to work with a great Realtor who knows the market well and can help you navigate each area to ensure that you make the best decisions.


What's the Real Estate Market like right now in Colorado Springs?

Every month, we put out the Colorado Springs Market Insider. You can view it by clicking the image below. You'll find the most recent housing market statistics for Colorado Springs right here.Colorado Springs Market Insider

If you subscribe to any of our social media profiles, you'll receive our newest videos in your news feed as soon as we post them. Our website and Facebook page are the best ways to stay up-to-date with our crazy market shifts.

Click below to follow us on any of these social platforms to stay updated.

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We also recommend finding an excellent Realtor with enough experience to navigate our current market conditions. Many buyers are losing out on accepted offers right now. The skillset and expertise of your Realtor have never been as vital as they are right now.

Whether you are buying or selling a home, you need an excellent Realtor. Finding the right agent will be one of the critical factors to your success in this crazy real estate market.

Which Areas Have Appreciated The Most in Colorado Springs


Andrew Fortune

Hi! 👋 I'm Andrew Fortune, the founder of Great Colorado Homes and the creator of this website. I'm also a Realtor in Colorado Springs. Thank you for taking the time to read this blog post. I appreciate your time spent on this site and am always open to suggestions and ideas from our readers. You can connect with me on Facebook, Instagram, or contact me through this website. I'd love to hear from you. 🙂


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