The City of Colorado Springs today presented a new Regional Housing Needs Assessment to City Council, releasing the most comprehensive analysis of local housing conditions in more than a decade. The assessment shows a growing region with significant gaps between the housing that exists today and what current and future residents need.
The findings highlight a housing shortage of 27,712 units as of 2023 and project a need for 60,034 additional homes by 2035, doubling the community’s annual production pace. The report points to rising home values, limited rental options, and a mismatch between existing housing stock and household demographics, particularly single-person households, seniors, young professionals, and low- to moderate-income workers.
The assessment also highlights cost burdens across the region, showing that more than half of renters and nearly one in three homeowners spend more than 30% of their income on housing.
“This assessment gives us a clear and honest picture of where we stand, and where we need to go,” said Aimee Cox, Chief Housing and Homelessness Response Officer. “Housing demand has outpaced housing supply, and this shortage affects residents across all income levels, limiting housing choice for everyone especially families, seniors, and low wage workers. Fortunately, these numbers also point us toward potential solutions. Our next step is to create a Housing Action Plan to support a balanced housing market and ensure that people who live, work, or choose to retire in Colorado Springs can find a home that meets their needs.”
As Colorado Springs continues to grow as a hub for defense, aerospace, education, and technology, demand for a wide range of housing types is expected to remain strong, including entry-level homes, workforce rentals, and accessible units.
To help residents explore the data, the City also launched two interactive online dashboards that visualize neighborhood-level housing trends, needs, and affordability across El Paso County.
The Housing Trends by Municipality – 2025 Housing Needs Assessment displays key data from the study’s dataset by municipality, including diversity in housing stock, cost-burdened households, and affordability.
The Housing Trends by Census Tract – American Community Survey dashboard presents census tract-level housing and demographic information including predominant occupancy type, average household size, and median household income.
Both dashboards include summary views for quick insights as well as interactive maps that allow residents to explore deeper, municipality and census-level trends across the region.
Dashboards and the full assessment are available at ColoradoSprings.gov/HousingNeedsAssessment.
The Housing Needs Assessment will directly inform the Colorado Springs Housing Action Plan, anticipated in 2026. The Housing Action Plan will outline specific strategies, such as zoning updates, funding tools, and partnerships, to address identified needs and support a more balanced, resilient housing market across income levels.
The project was conducted in response to the City of Colorado Springs’ growing population and SB 24-174 requirement. It is funded by the City of Colorado Springs, the El Paso County Community Development Block Grant, and the Colorado Infrastructure and Strong Communities Grant Program. The assessment also provides data for all municipalities within El Paso County to support their planning and compliance with Colorado Senate Bill 24-174. While data was collected for participating jurisdictions, only Colorado Springs and unincorporated El Paso County receive recommendations as part of this study.
Regional Housing Needs Assessment Key Findings
Population and household growth continue to rise
El Paso County is projected to approach one million residents by 2050, a 35% increase from 2023. Colorado Springs added more than 30,000 households since 2010.
Housing production has not kept pace with demand
The report highlights a housing shortage of 27,712 units as of 2023 and project a need for 60,034 additional homes by 2035, which would require a doubling of the community’s annual production pace
Affordability gaps persist for both renters and owners
- Average rent in Colorado Springs reached $1,784 in March 2025, requiring an income of $78,693 to be affordable. Only 36% of renters meet that threshold. The median renter income is $58,325.
- The average home value reached $457,000, requiring an income above $150,000 to purchase. Only about 30% of local households mee that threshold. The median homeowner income is $106,625.
Household incomes have not kept pace with housing costs
Real home values grew nearly four times faster than incomes from 2018–2023.
Senior and accessible housing needs are rising
Nearly 78% of senior households in Colorado Springs are over housed, and the region needs an estimated 23,345 accessible units to meet reported mobility needs.
Housing challenges affect the military community
Basic Allowance for Housing levels fall below typical family-sized rental and ownership costs for many enlisted personnel, and family-sized rental options remain limited.