Colorado · 79th largest metro area

Buying a home in Colorado Springs, Colorado

In Colorado Springs, the median value of owner-occupied homes is $452,600, El Paso County's effective property tax rate is 0.41%, and a purchase mortgage carried a median $6,995 in total loan costs in 2025.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Colorado Springs home costs, fact by fact

About Colorado Springs

Colorado Springs, Colorado, has a city population of 493,554 in Census estimates. Owners occupy 60.9% of homes. Median gross rent is $1,648 per month.

Reading the Colorado Springs figures

Colorado Springs prices below the state: owners estimate its median home at $452,600, against $567,600 statewide. Denver reads $616,000, with Aurora at $469,100. Greeley is lower at $402,500, and Pueblo lower still at $247,200. Rent is $1,648 a month, close to the $1,621 HUD benchmark for the smaller size in the Colorado Springs zone, which is a benchmark and not a local median. Owners make up 60.9% of households, level with Greeley and above Denver's 48.8%. El Paso County's 0.41% rate gives a typical annual bill of $1,874 on homes valued at $461,000 in the county. Loans there in 2025 cost $6,995 at the median, with the middle range from $3,506 to $12,000. Fort Collins records rent of $1,690. The city is one of 13 covered Colorado cities, in a metro area ranking 79th nationally. Values are owners' estimates and HUD's figure is a benchmark.

Calculate for Colorado

If you buy

Colorado state transfer tax

Documentary fee (C.R.S. 39-13-102): $0.01 per $100 of consideration, or major fraction of $100; nothing if $500 or less. Change the price: the amount is recalculated instantly.

Price$567,600
State transfer tax$56.76
Share of the price0.01% of the price
Who paysSet by the purchase contract

Default price: the Colorado median value of owner-occupied homes, $567,600 (Census ACS 2025). Rule: Price divided by $100, times $0.01, counting a major fraction of $100 as a full unit. No fee when consideration is $500 or less. Who pays: The statute puts the fee on whoever offers the deed for recording and does not pick a side; the contract (CBS1 splits closing costs) and closing statement decide. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Colorado transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Colorado state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Colorado Springs

How much is property tax in Colorado Springs?

Homeowners in El Paso County pay a median $1,874 a year in property tax, 0.41% of the county median home value of $461,000 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Colorado Springs?

Home-purchase mortgages in El Paso County carried median total loan costs of $6,995 in 2025; half of the 9,691 loans fell between $3,506 and $12,000 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Colorado Springs?

Colorado has no transfer tax by that name but charges a state documentary fee of one cent per $100 of the price, which is $62.50 on a $625,000 home. The Colorado Constitution bars new or increased real property transfer tax rates.

Is it cheaper to rent or buy in Colorado Springs?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Colorado Springs ($452,600) equals 22.9 years of the median gross rent ($1,648 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Colorado Springs?

Across Colorado, the main hazards for home insurance are wildfire, hail and flood, and the insurer of last resort is Colorado FAIR Plan. The Colorado FAIR Plan, created in 2023 (House Bill 23-1288), limits residential coverage to $750,000, pays actual cash value rather than replacement cost, and requires three declinations from standard insurers.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Colorado rules that apply in Colorado Springs

Other large cities in Colorado

Who licenses each trade in Colorado · All covered cities

Sources

Colorado · All states · Federal guides