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Is it Expensive to Live in Colorado Springs

Colorado Springs is a beautiful mountain city that has access to the most picturesque hiking trails on the Front Range. It is home to the Garden of the Gods, the Air Force Academy, and the Olympic Training Center, this rapidly growing city is filled with facilities and cultural buildings all across town. The picturesque town is one of the most beautiful cities in America and is a haven for anyone looking for outdoor activities and an adventurous lifestyle. The town was founded in 1871 by General William Palmer that wanted to make a high-end city where leisure would be the most important thing. It was nicknamed Little London for all its tourists that were coming in from England.

The town offers more than sixty different attractions that will be on your bucket list as soon as you love them. The town also received numerous acclaims for its business atmosphere as the town supports startups and offers many job opportunities. The current number of residents is around 450,000 people and it is the second-most populous city in the state of Colorado. The town received also many mentioned and places in lists like “Best Places to Live” and columns like America’s best cities.

With 300 days of sunshine on average days each year Colorado can be described as an attractive place to live in and has experienced constant growth in population over many years. Despite the increasing number of people moving in, Colorado Springs still maintains the warm and friendly atmosphere of a small-town town and is regularly rated among the most wanted places to reside within the state. But will its small-town charm translate into a lower cost of living?

The price of living in Colorado Springs is 3.4 percent over that of the average across America. This is a trend that continues to increase. Compared to some other places this city is not so bad.
In this article, we will learn about the expenses that come with life within Colorado Springs, from housing to healthcare and food and determine if a move towards Colorado Springs or the Front Range is right for you. Bur first let’s talk about some of the reasons why you should move to this little city.

Real Estate in Colorado Springs

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Colorado Springs real estate is generally less expensive than other areas of the state. This is the primary reason why residents choose to reside in the area. Since Colorado Springs is only about an hour’s drive from Denver. It’s good to know that so many people will buy homes in Colorado Springs and then commute to Denver for their jobs. This just shows you how enticing the place is.
It is well-loved by families with children as it lets them reside in an urban area, yet still have the convenience of Denver. The low cost of housing is one of the main reasons to visit Colorado Springs. If you need more help with getting real estate and finance options we suggest checking out someone at Venterra Homes who will help you with this task.

Getting a short-term rental may be an issue. Rentals for short-term leases that are less than 6 months are getting difficult to locate. A number of homeowner’s associations have been implementing regulations that ban leases of less than 6 months to prevent negative effects on the neighborhood. Be prepared for short-term rental costs to rise as supply declines. Corporate rentals have always been expensive. Due to the increase in the cost of short-term rental, companies might consider buying houses to rent to temporary employees.
Many homeowners are adding on to their homes (when the zoning permits) to rent space out and generate additional income.

Eating In Colorado Springs

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Colorado Springs boasts a wide range of international cuisine including some very amazing options. You should definitely look forward to Mexican food there as it is amazing. You can also expect a lot of places that have European cuisine. There’s a wealth of dining possibilities, with many options from corned stores to high-end establishments where you can have the most perfect date.
Outdoor dining is another common choice in this region. Between the breathtaking panoramas of the Rocky Mountains and the famously warm weather, there’s never a shortage of outdoor options and with that backdrop any food becomes good. A general number would be that the food costs are a tad bit slower than the national average. About 3.4 percent less.

Utility Costs

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The average is almost the same as the national one. You should expect to pay around 150 to 170 monthly for an average apartment. The price of utilities is contingent in the amount of space you have at your house. However, your lifestyle and seasons can affect the cost. When it is hot it is possible to have to pay higher for cooling, and for water when you have a garden. (Local note: Air cooling isn’t an option on Colorado Springs homes!). In winter, electricity or gas for heating your home is more costly and that you should take into consideration.

Conclusion

The cost of living for residents within Colorado Springs has steadily increased in the last few years, and will likely stay that way. Prices for homes are predicted to continue to rise. The major reason behind our current market is very low inventory. The price will rise until we can find more homes to sell.

The past has been that Colorado Springs’ growth has always been one or two in comparison to Denver. It’s beginning to change with lots of new plans and projects underway to catch up with Denver and it’s beginning to be evident. So with all that, we hope you are closer to the decision to check out this amazing city and all things that it offers.