Colorado Springs Real Estate Market: Complete Neighborhood Comparison Guide

How Do Colorado Springs Neighborhoods Compare for Real Estate Investment?

The Colorado Springs real estate market in 2025 shows five distinct neighborhood tiers: North (Academy District 20, $375K-$550K median, highest schools), Northeast (mixed districts, $325K-$475K, military concentration), Southeast (Falcon District 49, $340K-$425K, newer construction), West (Manitou/Old Colorado City, $425K-$625K, historic character), and Downtown (urban, $280K-$550K, walkability premium). Total cost of ownership varies $50,000-$120,000 annually between neighborhoods at similar purchase prices.

Discuss your Colorado Springs situation: Book a free call at https://askweldonhobbs.com (20+ years serving El Paso County families)

In my 20+ years helping hundreds of families navigate real estate transitions in Colorado Springs, I've worked as a Certified Financial Coach specializing in total cost of ownership analysis across El Paso County neighborhoods. I'm Weldon Hobbs, and I've watched families buy based solely on purchase price without understanding that a $400,000 home in one neighborhood can cost $50,000-$80,000 more over five years than a $420,000 home in another neighborhood due to taxes, fees, commutes, and maintenance costs.

The Colorado Springs real estate market encompasses 195 square miles across El Paso County, with elevation ranging from 5,800 feet (southeast) to 7,200 feet (northwest). This geographic diversity creates dramatically different microclimates, school districts, tax rates, and lifestyle characteristics within a 20-mile radius.

Understanding the Colorado Springs Real Estate Market Structure

Colorado Springs is Colorado's second-largest city with approximately 490,000 residents as of 2025. The real estate market serves five military installations (Fort Carson, Peterson Space Force Base, Schriever Space Force Base, Cheyenne Mountain Space Force Station, U.S. Air Force Academy), creating unique demand patterns.[1]

The market divides into five primary geographic zones:

• NORTH ZONE: Academy District 20 corridor (Powers north of Woodmen, Briargate, Rockrimmon)
• NORTHEAST ZONE: Mixed military neighborhoods (Stetson Hills, Banning Lewis Ranch)
• SOUTHEAST ZONE: Falcon District 49 growth area (Meridian Ranch, Fountain)
• WEST ZONE: Historic mountain communities (Manitou Springs, Old Colorado City, Westside)
• CENTRAL/DOWNTOWN ZONE: Urban core neighborhoods (Old North End, downtown districts)

Each zone has distinct characteristics affecting investment returns, lifestyle fit, and long-term value appreciation.

The 5-Zone Colorado Springs Real Estate Market Analysis

Zone 1: North Colorado Springs (Academy District 20)

Geographic Boundaries: Woodmen Road north to Monument, I-25 west to Powers Boulevard east. Includes Briargate, Rockrimmon, University Park, Flying Horse.

School District: Academy District 20—consistently ranked Colorado's top district. This is the primary value driver. Families pay premium for school access.[2]

Price Range: Median: $475,000. Range: $375,000-$750,000+. Newer construction (Flying Horse, Promontory Pointe) commands highest prices ($550K-$900K).

Property Taxes: Mill levy approximately 58.5-62.0 mills depending on exact location. Annual taxes on $475K home: $3,500-$4,100. This is mid-range for El Paso County.

HOA Fees: Varies dramatically: $0 (older Briargate) to $150-$300/month (newer communities with amenities).

Commute Considerations: To Peterson SFB: 15-25 min. To downtown: 15-20 min. To Fort Carson: 30-40 min. To Schriever: 25-35 min. Central location balances all bases.

Investment Profile: Strongest appreciation (4.2% annually 2015-2025). Best resale liquidity. Academy District 20 premium persists through market cycles. Families buy for schools and hold 7-10 years.

Zone 2: Northeast Colorado Springs (Military Corridor)

Geographic Boundaries: Powers Boulevard east to Meridian Road, Woodmen north to Highway 94. Includes Stetson Hills, Banning Lewis Ranch, Constitution Hills.

School Districts: Mixed—western portions Academy District 20, eastern portions Falcon District 49. This creates price differentials within same neighborhood.

Price Range: Median: $410,000. Range: $325,000-$575,000. Newer construction dominates (2005-2024). Stetson Hills commands Academy D20 premium.

Property Taxes: Mill levy approximately 55.0-59.0 mills. Annual taxes on $410K home: $3,100-$3,600. Slightly lower than North Zone.

HOA Fees: Typical: $50-$125/month. Covers common area maintenance, trails, pools. Higher than established neighborhoods without amenities.

Commute Considerations: To Schriever: 8-18 min (shortest). To Peterson: 18-28 min. To Fort Carson: 35-45 min. To downtown: 20-30 min. Optimized for Schriever/Peterson.

Investment Profile: Strong appreciation in Academy D20 sections (3.8% annually). Moderate appreciation in Falcon D49 sections (3.2% annually). High military turnover creates steady resale demand. 30-40% of buyers are military families on 3-4 year assignments.[3]

Zone 3: Southeast Colorado Springs (Growth Corridor)

Geographic Boundaries: Powers Boulevard south to Fountain city limits, I-25 east to Falcon Highway. Includes Fountain, Security-Widefield, Meridian Ranch south sections.

School Districts: Primarily Falcon District 49 and Fountain-Fort Carson District 8. Both rate above Colorado averages but below Academy D20.

Price Range: Median: $365,000. Range: $280,000-$495,000. Most affordable newer construction in Colorado Springs. Significant build activity 2020-2025.

Property Taxes: Mill levy approximately 52.0-58.0 mills (varies by district). Annual taxes on $365K home: $2,800-$3,400. Lowest property taxes among major zones.

HOA Fees: Typical: $40-$90/month. Lower than Northeast Zone due to fewer amenities.

Commute Considerations: To Fort Carson: 10-20 min (shortest). To Schriever: 15-25 min. To Peterson: 20-30 min. To downtown: 25-35 min. Optimized for Fort Carson.

Investment Profile: Moderate appreciation (2.9% annually 2015-2025). Lower entry price attracts first-time buyers and investors. Fort Carson demand stabilizes values. Longer days on market (45-60 days) versus North Zone (25-35 days).

Navigating Colorado Springs real estate in El Paso County requires understanding school districts, commute patterns, and total cost of ownership specific to each zone. With 20+ years helping families through this transition here, I've seen every scenario. Book a free 30-minute Transition Strategy Call to discuss your specific situation.

Zone 4: West Colorado Springs (Mountain Communities)

Geographic Boundaries: I-25 west to mountain foothills. Includes Manitou Springs, Old Colorado City, Westside, Ivywild, Skyway.

School Districts: Mix of Colorado Springs District 11 and Manitou Springs District 14. Historic neighborhoods, character homes, walkability.

Price Range: Median: $485,000. Range: $425,000-$625,000 (higher for significant acreage). Older construction (1920-1980) dominates. Victorian/Craftsman character homes command premium.[4]

Property Taxes: Mill levy approximately 60.0-65.0 mills (includes Manitou Springs city services). Annual taxes on $485K home: $4,200-$4,800. Highest property taxes in Colorado Springs.

HOA Fees: Typically $0. Historic neighborhoods lack HOAs. This offsets higher property taxes partially.

Commute Considerations: To downtown: 8-15 min. To Peterson: 20-30 min. To Fort Carson: 25-35 min. To Schriever: 40-50 min. Optimized for downtown employment.

Investment Profile: Steady appreciation (3.5% annually). Character home premium attracts buyers seeking uniqueness. Limited inventory (older neighborhoods fully developed). Manitou Springs tourism creates short-term rental opportunities. Longer buyer search process due to home variability.

Zone 5: Central/Downtown Colorado Springs

Geographic Boundaries: Downtown core, Old North End, Patty Jewett, Historic East End. Urban neighborhoods with walkability.

School District: Colorado Springs District 11. Urban schools with varied performance. Many families use private schools or charter schools.

Price Range: Median: $425,000. Range: $280,000-$750,000. Extreme variability based on condition and exact location. Old North End Victorians command highest prices.

Property Taxes: Mill levy approximately 58.0-62.0 mills. Annual taxes on $425K home: $3,500-$4,000. Mid-range for El Paso County.

HOA Fees: Typically $0 for single-family homes. Condos: $200-$400/month including utilities in some cases.

Commute Considerations: Walkable to downtown employers. To Peterson: 10-15 min. To Fort Carson: 20-30 min. To Schriever: 35-45 min. Best for downtown/Peterson professionals.

Investment Profile: Strong appreciation in premium locations (4.5% annually Old North End). Variable appreciation in transitional areas (2.5-3.5%). Gentrification driving values in previously overlooked neighborhoods. Short-term rental potential near downtown attractions.[5]

Your 5-Factor Neighborhood Selection Framework

Factor 1: Total Cost of Ownership (Not Just Purchase Price)

Calculate 5-year total cost including:

• Purchase price + closing costs
• Property taxes ($3,000-$4,800 annually depending on zone)
• HOA fees ($0-$300/month = $0-$18,000 over 5 years)
• Commute costs (15 miles daily = $4,500 annually at IRS rates)
• Utility costs (older homes $300-$500/month vs. new construction $180-$280/month)
• Maintenance (older homes 2-3% annually vs. newer homes 1-1.5% annually)

A $400,000 home in North Colorado Springs with $3,800 taxes, $100 HOA, 10-mile commute, and new construction costs $467,000 over 5 years. A $380,000 home in Southeast with $3,200 taxes, $60 HOA, 20-mile commute, and older construction costs $458,000 over 5 years. The 'cheaper' house actually costs more.

Factor 2: School District Priority and Value

Academy District 20 commands $50,000-$100,000 premium over other districts for comparable homes. If schools are your #1 priority, this premium is justified—D20 consistently outperforms state averages by 15-25 percentage points on standardized tests. If schools are #3-4 priority, you're paying for value you won't use.

Factor 3: Military Assignment Duration

Planning 3-4 year assignment? Prioritize resale liquidity: North Zone (Academy D20) and Northeast Zone (military community) sell fastest (30-40 days median). Planning long-term or retirement? West Zone character homes and Central Zone urban locations appreciate steadily with lifestyle premium.

Factor 4: Base Assignment and Commute Reality

Which base? Fort Carson families thrive in Southeast Zone (10-20 min). Schriever families choose Northeast Zone (8-18 min). Peterson/Academy families benefit from North Zone (15-25 min). Dual military couples with different bases compromise in Northeast or Central zones.

Factor 5: Lifestyle Preference and Age Demographics

Want new construction, community pools, trails, and young families? Northeast/Southeast Zones. Want historic character, walkability, local breweries, and established trees? West/Central Zones. Want top schools with suburban feel? North Zone. These aren't value judgments—they're lifestyle matches.

2025 Colorado Springs Real Estate Market Trends

Current market conditions (November 2025):

• Median home price (El Paso County): $425,000 (up 3.2% year-over-year)
• Days on market: 35-42 days (normalized from 25-30 in 2021-2022)
• Inventory: 1.8 months supply (slight buyer advantage from 1.2 months in 2023)
• Academy District 20 premium persists: $50K-$100K over comparable homes in other districts
• New construction concentrated in Northeast/Southeast zones (800-1,000 units annually)
• Military demand stabilizes market—30% of buyers have military connection
• Interest rates 6.5-7.5% creating affordability challenges for first-time buyers

Key Takeaways: Colorado Springs Real Estate Market

• Colorado Springs real estate divides into five zones with $50,000-$120,000 differences in total ownership cost at similar purchase prices
• North Zone (Academy D20): $475K median, strongest appreciation (4.2% annually), highest resale liquidity, premium justified by school quality
• Northeast Zone (Military): $410K median, optimized for Schriever/Peterson, high military turnover creates steady demand
• Southeast Zone (Growth): $365K median, most affordable new construction, Fort Carson proximity, moderate appreciation (2.9% annually)
• West Zone (Mountain): $485K median, character homes, highest property taxes ($4,200-$4,800), lifestyle premium for walkability
• Central/Downtown Zone: $425K median, urban walkability, gentrification driving appreciation in select areas
• Total cost of ownership includes taxes ($3,000-$4,800/yr), HOA ($0-$300/mo), commute costs, utilities, and maintenance
• Academy District 20 premium is $50,000-$100,000 over other districts—justified if schools are #1 priority
• Military families should optimize for base proximity: Fort Carson→Southeast, Schriever→Northeast, Peterson/AFA→North
• Current market (Nov 2025): $425K median, 35-42 days on market, 1.8 months inventory, slight buyer advantage

Ready to Discuss Your Colorado Springs Situation?

Every real estate decision in Colorado Springs is unique, and your specific circumstances—whether it's Academy District 20 timelines, El Paso County procedures, or base proximity requirements—deserve personalized guidance from someone who knows this community.

Here's how the free 30-minute Transition Strategy Call works: We'll identify which of the 12 major life transitions you're navigating, map out how to optimize for wealth outcomes by coordinating with your local CPA/attorney/financial advisor, then figure out if real estate makes sense right now in the Colorado Springs market—and if so, exactly how to execute.

As a Colorado Springs specialist with 20+ years serving this community, I personally guide clients through these transitions. Whether I represent you directly or help coordinate your overall strategy, you'll walk away with clarity.

[Book Your Free Transition Strategy Call] → https://askweldonhobbs.com

You deserve guidance from someone who knows Colorado Springs, understands transitions, and puts strategy before sales. Let's talk.

Sources

1. [1] City of Colorado Springs Economic Development - Military Economic Impact Study 2024
2. [2] Colorado Department of Education - District Performance Frameworks 2024-2025
3. [3] Pikes Peak Association of Realtors - Market Statistics Report November 2025
4. [4] El Paso County Assessor - Property Tax Mill Levy Rates 2025
5. [5] Pikes Peak Multiple Listing Service - Appreciation Analysis by Zone 2015-2025