The cost of living index for Colorado Springs rose to†104% in quarter four of 2020; the highest rate since 1997. In December 2020, the†National Association of Realtors reported that the median home price in Colorado Springs is $371,900 (up from $315,700 in 2018) for existing, single family homes, while the national median home price is $309,100.The above statistics are from the article, ìIs the Cost of Living in Colorado Springs High?î published Jan. 13 on the Your Colorado Springs House website, by Susanna Haynie.The average rent prices in Colorado Springs are just above national averages, but still below Denver rates. Haynie said, ìApartment List reported a 5% drop in rental rates for Denver over the last 12 months while Colorado Springs has seen a†4% increase.îThe article states that Colorado Springs is almost even with the national median rental prices at $982 a month for a one-bedroom and $1,246 for two bedrooms, but average rents are expected to continue to climb in Colorado Springs in the near future. Haynie said the lack of affordable housing in Colorado Springs will continue to be an issue as investors are choosing to convert low-income housing to high-end condos and apartments. She said Colorado Springs is growing and determined to accommodate the expansion.Aubrey Hasvold, advocacy program director for the Colorado Coalition for the Homeless, said rent costs have increased in Colorado Springs and across the state, while incomes have remained largely stagnant; plus COVID-19 put people’s employment at risk. She said presently the state is putting money into emergency rent assistance for those struggling with housing stability, and also investing more money in eviction legal defense to keep people housed.Hasvold said finding affordable housing is not easy. There are often long wait lists, plus there is a supply and an affordability problem, she said. She shared these statistics: total population in El Paso County is 713,856; the fair market rent is $1,020 a month; rent affordable at minimum wage is $530/month; 50% of renters and 28% of homeowners are cost burdened.Hannah Martin, director of the Accompaniment and Sanctuary Coalition of Colorado Springs, said it is basically impossible to find a place to rent. Sanctuary Coalition works specifically with undocumented immigrants in the process of becoming citizens. Martin said these people usually hold full-time jobs; sometimes more than one. They have an individual taxpayer identification number, which is like a replacement social security number, so they can pay their taxes. She said even then, it is hard for them to qualify for an apartment.Martin said most landlords, real estate agents and rental companies have several requirements for potential renters. They need to make wages two to three times the rent amount; have a credit score of 690 or higher or be able to pay double the amount of a down payment upfront; and have held a steady job of at least 20 hours a week for two years at the same place. She said with the pandemic, many people lost their jobs, so they have had to start over. In the end, they either have to borrow money from family and friends or get someone to co-sign. She said, ìFortunately, we have occasionally met gracious homeowners who are renting (to people) themselves rather than using an agency, and they have been willing to work with us.îShe said there are many people in Colorado Springs living in small places, staying with friends or family or even living in the basement of a church. Martin said some of their clients live in the apartment building that might be demolished. The state requires they be given a 30-day notice to be evicted, but it is almost impossible to find housing in 30 days.Grant Winger, executive director of Fresh Start Center in Colorado Springs, said at the beginning of COVID-19 they noticed the shortage of groceries at the grocery stores and in local donations. He said that issue has leveled off, and the stimulus checks have helped the families. ìThere were a lot of times in 2020 where families had little to no income coming in because of layoffs or job loss, maybe unemployment checks hadnít been granted yet; it became an emergency situation for a month or two until they could get back to the new normal,î Winger said.Fresh Start also participates in a backpack program for families in need; food is sent home every weekend with the students. He said the program was on hold for quite a while when the schools were closed, but now they are able to help some of the families again.Winger said overall, they had an increase of families coming to them in 2020 because of job loss or loss of hours; plus, several companies had large layoffs that caused a big impact. He said theyíre still feeling the ripple effect as new families continue coming to them for temporary assistance.ìWeíre still hopeful that families are able to keep their strong bond, be able to keep their home and pull through this,î Winger said. ìThere is a new normal starting to emerge where everyone is starting to figure out what they need to do ó and adjusting, so itís less of a scary time.î
