april2019 colorado springs metro · survey, which asks more than 100 leading economists, real...
TRANSCRIPT
www.zillow.com/research/
APRIL2019 Colorado Springs Metro
National Rents
Current: $1,477Monthly Change: 0.2%Annual Change: 2.6%
Colorado Springs Metro Rents
Current: $1,568Monthly Change: 0.4%Annual Change: 3.1%
Breakeven Horizon2.2 years
Major Cities - Rents
Colorado SpringsCurrent: $1,551Monthly Change: 0.3%Annual Change: 3.3%Breakeven Horizon: 2.2 years
Security-WidefieldCurrent: $1,452Monthly Change: 0.2%Annual Change: 4.5%Breakeven Horizon: 2 years
FountainCurrent: $1,464Monthly Change: 0.4%Annual Change: 4.7%Breakeven Horizon: 2.1 years
MonumentCurrent: $2,344Monthly Change: 0.3%Annual Change: -1.4%Breakeven Horizon: 2.6 years
PeytonCurrent: $1,734Monthly Change: 0.5%Annual Change: 4.4%Breakeven Horizon: 2.4 years
Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community
City ZRI Year-over-Year-1.4% 0.0% - 0.6% 0.7% - 2.7% 2.8% - 3.9% 4.0% - 5.8% 5.9% - 9.7%
Metro Cities: Top/Bottom by Annual Rent AppreciationTop:Cripple Creek 9.7%
Woodland Park 5.8%
Fountain 4.7%
Security-Widefield 4.5%
Peyton 4.4%
Bottom:Monument -1.4%
Gleneagle 0%
Elbert 0.6%
Black Forest 1.7%
Palmer Lake 1.9%
Metro Neighborhoods: Top/Bottom by Annual Rent AppreciationTop:Falcon 5.3%
Central Colorado Spr 4.7%
East Colorado Spring 4.2%
Old Colorado City 3.9%
Powers 3.7%
Bottom:Northgate 0.6%
Northwest Colorado S 0.9%
Flying Horse 1.5%
Southwest Colorado S 1.8%
Briargate 2.1%
How do we measure rents? To track rents, we use the Zillow Rent Index (ZRI). The
ZRI is the midpoint of estimated rents in a given region. Half the estimated rental prices
are above this number and half are below.
What is the Breakeven Horizon? The Breakeven Horizon in the number of years you
must live in a home before owning the same home becomes more financially advantageous
than renting the home. For example, if ’City X’ had a Breakeven Horizon of 5.5 years,
it is financially better for you to rent in ’City X’ unless you plan on living there for more
than 5.5 years.
APRIL2019
*Top cities and neighborhoods by size within the metro are listed. Additional counties, cities, neighborhoods and zip codes may be available online at
www.zillow.com/research/data or by emailing [email protected]
Zillow Research:Zillow R© is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the placethey call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics andanalytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housingdata and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price ExpectationsSurvey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow HomeValue Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence inlocal housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), andheadquartered in Seattle.
www.zillow.com/research/
Largest Cities Covered by Zillow
Bre
akev
enH
oriz
on(y
rs)
Ren
ts(Z
RI)
All
Hom
es($
)
Ren
ts(Z
RI)
YoY
(%)
Med
ian
ren
tlis
tpr
ice
($)
Ren
tes
tim
ate/
sq.
ft.
($)
Black Forest 2.7 2,449 1.7 0.8Calhan 1.7 1,508 3.7 0.9Colorado Springs 2.2 1,551 3.3 1,600 0.9Cripple Creek 1.6 1,321 9.7 1Divide 1.9 1,654 3.5 1Elbert 2.4 1,953 0.6 0.8Florissant 1.8 1,554 3.9 1Fountain 2.1 1,464 4.7 1,550 0.9Gleneagle 2.8 2,096 0 0.7Manitou Springs 2.3 1,691 2.7 1Monument 2.6 2,344 -1.4 2,250 0.8Palmer Lake 2.4 1,623 1.9 1Peyton 2.4 1,734 4.4 0.8Security-Widefield 2 1,452 4.5 1,540 0.9Stratmoor 1.7 1,358 2.5 0.9
Bre
akev
enH
oriz
on(y
rs)
Ren
ts(Z
RI)
All
Hom
es($
)
Ren
ts(Z
RI)
YoY
(%)
Med
ian
ren
tlis
tpr
ice
($)
Ren
tes
tim
ate/
sq.
ft.
($)
Woodland Park 2.2 1,759 5.8 1
Largest Neighborhoods Covered by Zillow
Bre
akev
enH
oriz
on(y
rs)
Ren
ts(Z
RI)
All
Hom
es($
)
Ren
ts(Z
RI)
YoY
(%)
Med
ian
ren
tlis
tpr
ice
($)
Ren
tes
tim
ate/
sq.
ft.
($)
Briargate 2.3 1,832 2.1 1,950 0.8Central Colorado Spr 2 1,411 4.7 1,450 1.1East Colorado Spring 2 1,457 4.2 1,420 0.8Falcon 2.2 1,622 5.3 0.8Flying Horse 2,652 1.5 0.8Northeast Colorado S 2.1 1,580 2.7 1,550 0.8Northgate 2.8 2,244 0.6 0.7Northwest Colorado S 2.4 1,904 0.9 1,700 0.8Old Colorado City 2.1 1,424 3.9 1,360 1.1Powers 2.2 1,648 3.7 1,700 0.8
Bre
akev
enH
oriz
on(y
rs)
Ren
ts(Z
RI)
All
Hom
es($
)
Ren
ts(Z
RI)
YoY
(%)
Med
ian
ren
tlis
tpr
ice
($)
Ren
tes
tim
ate/
sq.
ft.
($)
Southeast Colorado S 1.6 1,364 3.1 1,300 1Southwest Colorado S 2.3 1,741 1.8 1,600 0.9West Colorado Spring 2.2 1,575 2.4 0.9