Colorado Springs continues to attract new residents with its mountain views, growing job market, and diverse neighborhoods. But how much income do you really need to live here comfortably, especially if you want to own a home?

We broke down the estimated annual income needed to live in three very different areas of El Paso County, CO — one luxury, one mid-range, and one more budget-friendly.

📍 High-Cost Luxury Living:

Broadmoor (80906)

The Broadmoor is one of Colorado Springs’ most prestigious neighborhoods. Nestled against Cheyenne Mountain and home to the iconic Broadmoor Resort, this area features historic estates, luxury homes, and world-class golf.

• Median Home Price: $800,000 – $1,010,000

• Estimated Annual Housing Costs: ~$46,900

• Estimated Gross Income Needed: ~$134,000+

Living in Broadmoor means more than a house, it’s a luxury lifestyle. That price tag comes with high housing costs, larger utility bills, and HOA/maintenance expenses that can add up quickly.

Other Luxury Areas:

• Flying Horse (80921) – Master-planned community with country club, golf, and upscale living.
• Kissing Camels – Gated golf course community near Garden of the Gods.
• Northgate (80921) – Popular for newer large homes, high-rated schools, and proximity to Air Force Academy.

🔎 Explore Luxury Homes for Sale 🔍

🏡 Mid-Range Living:

Briargate (80920)

Briargate is a family-friendly, master-planned community in northern Colorado Springs. With parks, shopping, and top-rated schools, it’s a favorite for professionals and military families.

• Median Home Price: $522,000 – $575,000

• Estimated Annual Housing Costs: ~$33,700

• Estimated Gross Income Needed: ~$96,300+

Briargate offers a balance of affordability and amenities, making it a strong choice for middle-income households who want newer homes without Broadmoor’s luxury pricing.

Other Mid-Range Areas:

• Stetson Hills (80922) – Large planned community with mid-range homes and proximity to Powers corridor shopping.
• Old Colorado City (80904) – Historic charm, walkable, mix of updated homes and more affordable options.
• Powers Corridor – A broad swath of newer developments with moderate housing costs.

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💲 Budget-Friendly Living:

Southeast Colorado Springs (80916)

For buyers seeking affordability, Southeast Colorado Springs offers one of the city’s most budget-friendly entry points into homeownership. This area features older homes, close proximity to military bases, and quick access to downtown.

• Median Home Price: ~$355,000

• Estimated Annual Housing Costs: ~$20,850

• Estimated Gross Income Needed: ~$59,600+

This area is popular among first-time buyers and investors, offering one of the lowest price points in the county while still providing access to all the amenities of city life.

Other Budget-Friendly Areas:

• Security-Widefield (80911) – Outside city limits, more affordable single-family homes, popular with military families.
• Fountain (80817) – South of COS, growing area with lower home prices than central or north COS.
• Manitou Springs (80929, some pockets) – Can vary, but there are small, lower-cost homes mixed in with pricier ones.

🔎 Explore Budget-Friendly Homes for Sale 🔍

📊 Our Methodology

To estimate the annual income needed in each neighborhood, we looked at:

• Median/average home prices (Zillow, Redfin, Realtor.com, Homes.com)

• Mortgage assumptions: 20% down, 30-year fixed at ~6.5% interest

• Property taxes: El Paso County effective tax rate ~0.41%**

• Insurance & maintenance: ~1% of home value annually

• Utilities, groceries, transportation, healthcare, and misc. costs: Based on Colorado Springs averages (BLS, Numbeo, local utilities)

• Housing cost burden: Housing ≤ 30–35% of gross income

🔎 Interpretation & Caveats

• Home Prices: These shift monthly — Broadmoor homes can easily exceed $1M, while Southeast homes may dip under $300K.

• Property Taxes: Colorado’s system uses assessed value × assessment rate × mill levy. Effective rates vary. Example: A $400,000 home × 6.765% assessment × ~0.07 mills ≈ ~$1,100 tax bill annually.

• Utilities: Larger homes (Broadmoor) = higher bills. Southeast homes often have lower monthly utility costs.

• Income Needed: Our estimates assume “comfortable ownership.” Families with higher debt, childcare, or medical expenses may need significantly more income.

⚠️ Disclaimer

This analysis is for informational and educational purposes only. It is not financial, legal, or tax advice. All numbers are estimates based on publicly available data as of 2024–2025. Home prices, taxes, interest rates, and cost-of-living expenses fluctuate regularly. Please consult a licensed mortgage lender, financial advisor, or tax professional for personalized guidance.

Sources: Median home values: Redfin – Broadmoor, Homes.com – Broadmoor, Redfin – Briargate, Zillow – Briargate, Realtor – 80916  |  Median income: FRED – El Paso County Median Household Income  |  Property tax data: Ownwell – Colorado Springs, SmartAsset – Colorado Property Tax Calculator, El Paso County Treasurer  |  Cost of living averages: Numbeo – Colorado Springs, Bureau of Labor Statistics – Consumer Expenditure Survey