Colorado Springs vs Denver: Housing Costs in Colorado
Side-by-side comparison of home prices, mortgage payments, and housing costs between Colorado Springs and Denver, Colorado. Using Colorado's 0.51% property tax rate and $3,200/year insurance. Updated for 2026.
Metric
Colorado Springs
Denver
Median Home Price
$435K
$575K
Population
478,961
715,522
Average Rent
$1,520/mo
$1,850/mo
Est. Monthly Mortgage (P&I)
$2,475/mo
$3,271/mo
Est. Monthly Property Tax
$185/mo
$244/mo
Est. Monthly Insurance
$267/mo
$267/mo
Est. Total PITI
$3,089/mo
$3,998/mo
Price-to-Rent Ratio
23.8
25.9
Verdict
Colorado Springs edges out Denver in affordability, saving you roughly $909/month on total housing costs. Both cities are in Colorado, so property tax rates and insurance costs are the same — the difference comes down to home prices and what you get for your money in each market.
Monthly Payment Comparison
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Colorado's 0.51% property tax rate.
Colorado Springs
Home Price$435,000
Down Payment (10%)$43,500
Loan Amount$391,500
Monthly P&I$2,475
Monthly Property Tax$185
Monthly Insurance$267
Monthly PMI$163
Total PITI$3,089/mo
Annual property tax: $2,219
Denver
Home Price$575,000
Down Payment (10%)$57,500
Loan Amount$517,500
Monthly P&I$3,271
Monthly Property Tax$244
Monthly Insurance$267
Monthly PMI$216
Total PITI$3,998/mo
Annual property tax: $2,933
Buying in Colorado Springs saves you approximately $909/month ($10,908/year) compared to Denver, based on median home prices with identical loan terms.
Which City Is Better For...
First-Time Buyers
Colorado Springs is the better choice for first-time buyers, with a median price of $435K versus $575K in Denver. That's $140K less to save for a down payment. You'd need roughly $15K for an FHA 3.5% down payment in Colorado Springs, compared to $20K in Denver. Colorado offers the CHFA Down Payment Assistance program (Up to $25,000 second mortgage) which applies in both cities.
Real Estate Investment
Colorado Springs has the better price-to-rent ratio at 23.8x versus 25.9x in Denver. A lower ratio generally signals better rental income relative to purchase price. Average rent in Colorado Springs is $1,520/month on a $435K median home, making it a stronger candidate for buy-and-rent investors.
Families
Denver (pop. 715,522) offers more amenities, schools, and services typical of a larger city, while Colorado Springs (pop. 478,961) may offer a quieter, more community-oriented lifestyle. Families on a budget may prefer Colorado Springs, where lower housing costs free up more income for childcare, education, and savings.