So Is Colorado Springs Affordable. According to www.GoBankingRates.com, Colorado Springs is the 3rd rated city where a comfortable lifestyle is possible. Ummm! I am not so sure!

           It wasn’t that long ago when a family making $30,000.00 in the household could find a simple 3 Bedroom home for $900.00 a month. That is not possible today. It was only 1-2 years ago when we had numerous 1st time home opportunities below $100,000.00. That does not exist today. In fact, there are hardly any homes below $150,000.00. Homes for rent across the county start at $1000.00 per month and get higher quickly. Is this affordable? I don’t think so.

           Minimum wage workers and entry level workers are really struggling to find suitable housing. 2 bedroom apartments are at $900.00 a month for something livable. Hard working folks are getting priced out of the market from Colorado Springs to the north. I was talking to a young man this weekend who is just out of college. He is working in downtown Denver making 40,000.00 a year. He cannot find even a 1 bedroom apartment up there for less than 1500 per month. That’s not comfortable!

           I don’t have a solution!! The market has gone up in value because there is no inventory of homes to sell or rent. Many folks are staying put for those reasons. Scaling down is not an option for retirees because there is no small 1 level plans in the market. It’s a catch 22, in that no one wants to sell because there is nowhere to go. The only solution is building small 1 level homes. Builders tell me that there is No Profit in doing that. Again we’re stuck. Thankfully our affordability is better than most cities, but it’s far from affordable.

Thanks

Brian