El Paso County, Colorado. Prepared October 3, 2026 by Rob Thompson, Realtor, Iconic Colorado Properties. Figures are drawn from the primary sources cited at the bottom.
Over five years, Colorado Springs median household income rose about 25% while median home prices rose about 29%. Because mortgage rates roughly doubled over the same period, the typical monthly payment rose about 75%. The result: the payment on a median-priced home went from about 28% of median household income in 2020 to a peak near 40% in 2023 and 2024, and sits near 39% today. The 28% line is the long-standing lending guideline for a healthy housing payment; the high 30s to 40% is where a market becomes strained for the typical household.
| Year | Median price | 30-yr rate | Est. payment | Median HH income | Payment / income |
|---|---|---|---|---|---|
| 2020 | $358,000 | 3.11% | $1,671 | $72,459 | 27.7% |
| 2021 | $420,000 | 2.96% | $1,902 | $79,094 | 28.9% |
| 2022 | $455,000 | 5.33% | $2,612 | $82,248 | 38.1% |
| 2023 | $450,000 | 6.79% | $2,968 | $88,794 | 40.1% |
| 2024 | $463,000 | 6.74% | $3,034 | $90,778 | 40.1% |
| 2025 | $465,000 | 6.60% | $3,007 | $90,778 * | 39.8% |
| 2026 YTD | $461,000 | ~6.4% | ~$2,930 | $90,778 * | 38.8% |
* The U.S. Census Bureau's most recent median household income estimate for El Paso County is the 2024 figure ($90,778); it is carried forward for 2025 and 2026 because newer Census data has not yet been released. 2026 price, rate, and payment figures are year-to-date and update as the year closes.
Each year's median home price is the median closing price of residential sales in the Pikes Peak region (El Paso County area), from 10,000 to 19,000 closed transactions per year. The 30-year rate is the average reported 30-year fixed mortgage rate for the year. The estimated payment is principal and interest on a median-priced home with 10% down on a 30-year fixed loan at that year's average rate, plus El Paso County's roughly 0.48% effective property tax and $1,800 per year in homeowner's insurance. Median household income is the U.S. Census Bureau estimate for El Paso County. Payment to income is the annual payment divided by median household income.
Note on the price figure: this is the regional median closing price, which reflects both price appreciation and the mix of homes that sold each year. It is not a constant-quality, repeat-sales index such as Zillow's ZHVI or the Case-Shiller index, which control for the mix of homes and may show a different percentage over a different time window. Home prices are measured across the Colorado Springs / Pikes Peak region (predominantly El Paso County); the income figure is specifically for El Paso County. The payment-to-income ratio is the most direct affordability measure here because it uses the actual median transaction price and the actual median household income for each year.
Prepared by Rob Thompson, Realtor, Iconic Colorado Properties, Colorado Springs, CO. rob@iconiccoloradoproperties.com · 719.440.6626. Companion to the full analysis at The Five-Year Affordability Squeeze in Colorado Springs. Figures may be cited with attribution.
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