December 4, 2017

Colorado Springs is booming for business

Colorado Springs

Colorado Springs has been buzzing in recent months with stories of its booming real estate market, affordability, and low unemployment. These are all key pieces of the puzzle in Colorado Springs’ economic boom, driven by a wave of business and industry growth, new residents moving to the city, a burgeoning reputation for culture and dining, and major infrastructure projects like expansions to the Colorado Springs Airport.

Need proof of the city’s recent surge? Here are a few of the national rankings Colorado Springs has earned in 2016-17:

With a mid-sized population of 445,000—poised to become the state’s largest city over the next 15 years—Colorado Springs created nearly 8,000 jobs in 2016 alone, boasts a low unemployment rate of 3 percent and has a median home price of roughly $250,000. The city is gaining a reputation as a millennial hipster hotspot as breweries, food halls, tiny homes, and tech startups reign. Plus, as Denver’s cost of living skyrockets, Colorado Springs remains below the national average and is seeing an influx of new residents. In January, Forbes declared the region one of the “10 Hottest Real Estate Markets to Watch” this year.

Other recent projects are putting Colorado Springs in the national spotlight, including the following multi-million-dollar developments: