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New - Just Now
$375,000
Active
3
Beds
3
Baths
1714
Sqft
0.0878
Acres
10575 Kalama Dr, Colorado Springs, CO 80925
MLS#: 2424717
KENNA NEWS DESK · AFFORDABILITY · NOVEMBER 4, 2026
By The Kenna Group News Desk.
Colorado home affordability improved for the first time in several years, but only 4% of Colorado jobs pay enough to buy a typical home in their own town. The National Housing Conference's 2026 "Priced Out" analysis found Colorado's homeownership affordability rose 1.98 points from 2024 to 2025, and 19 job-and-city combinations that were priced out in 2024 can buy again, in Fort Collins-Loveland, Grand Junction, Greeley and Pueblo. Here is who can afford a home in Colorado now, the income it takes at today's mortgage rates, and how buyers close the gap.
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Send me new listingsWhat is my home worth?+1.98 Points of homeownership affordability gained Colorado, 2024 to 2025, National Housing Conference | 4% Colorado jobs that can afford a home in town Down from 13% in 2020, Colorado Sun analysis of NHC data |
19 Job-and-city pairs that can buy again Fort Collins-Loveland, Grand Junction, Greeley, Pueblo | $540,000 Colorado median sale price, September Down 1.6%, Colorado Association of REALTORS |
Colorado home affordability: what the new report found
The National Housing Conference compares wages for nearly 300 occupations against typical home values and fair-market rents in 390 metro areas. Its Colorado release on October 12 found:
| Colorado, 2024 to 2025 | Change | Still vs. 2020 |
|---|---|---|
| Jobs that can afford to buy a typical home | +1.98 points | 9.01 points lower |
| Jobs that can afford a two-bedroom rental | +1.56 points | Nearly 9 points lower |
| Job-and-city pairs that regained the ability to buy | 19 | Fort Collins-Loveland, Grand Junction, Greeley, Pueblo |
Colorado was one of 10 states where the share of jobs able to afford both a home and a two-bedroom rental went up. "Colorado still faces a serious housing affordability challenge, but the positive change matters," NHC President and CEO David Dworkin said. "One year does not make a trend, but it shows that affordability can move in the right direction."
Only 4% of Colorado jobs can afford a home in their own town
The Colorado Sun broke out the state numbers from the NHC data: 4% of Colorado occupations can afford a house in the town where the job is, down from 13% in 2020. 41% can afford to rent a two-bedroom apartment without spending more than 30% of income or taking a roommate, down from 50%. Nationwide the shares are 14% for buying and 52% for renting, so Colorado is tighter than the country on both.
Share of jobs that can afford a typical home in their metro
Jobs that crossed back over the line include dentists in Colorado Springs, sales managers in Greeley, detectives in Pueblo and computer and information systems managers in Grand Junction, the Sun reported. Nationally, NHC counts 193 metro areas where a typical home takes a salary above $100,000, up from 30 in 2019.
The income you need to buy a Colorado home today
On the $540,000 Colorado median with 10% down, the loan is $486,000. Here is the income it takes to keep principal and interest at 28% of gross pay, at the October 29 Freddie Mac rate of 7.24% and two lower rates. Taxes, insurance and HOA dues come on top; run your own on the Colorado mortgage calculator.
Yearly income for principal and interest on a $486,000 loan (28% of gross pay)
| Home price, 10% down | Monthly principal and interest at 7.24% | Income needed | At 6.00% |
|---|---|---|---|
| $540,000 (Colorado median) | $3,312 | $141,900 | $124,900 |
| $400,000 | $2,453 | $105,100 | $92,500 |
That is why the gain is small: wages rose and prices softened, but rates near 7% still keep most Colorado jobs out. Read can I afford a home at 7%, the income you need for a $400,000 mortgage and who is still buying at 7%.
Prices are softening, and sellers are paying
The Colorado Association of REALTORS September numbers, as reported by the Colorado Sun: a $540,000 statewide median, down 1.6% from a year ago, condo and townhome medians down 7.1%, and a $575,000 Denver metro median, down 1.7%. Nearly half of Denver metro homes sold in September had a price reduction and 64% came with seller concessions. More detail in our September Colorado home sales story and on the Denver real estate statistics page.
Where Colorado buyers find room now
- The four metros that improved: Fort Collins affordable homes, Loveland, Greeley and Pueblo affordable homes.
- Front Range options: Colorado Springs affordable homes, Aurora affordable homes and Denver affordable homes.
- Condos and townhomes: down 7.1% statewide; check HOA dues and insurance before you compare payments.
- All of them: affordable homes for sale in Colorado.
How buyers close the affordability gap
Down payment help. CHFA down payment assistance starts at a 620 credit score, and our $1,000 cash to close program pairs it with seller-paid costs.
A lower rate. With 64% of Denver metro sales paying concessions, ask for seller concessions and use them on the 3-2-1 rate buydown: a lower rate for the first three years.
Know your number first. Get pre-approved, then read the first-time buyer guide. Renting longer? Compare rent or buy in Colorado and rent to own.
Sellers: buyers are shopping on payment. A home value report plus a concession or buydown offer beats a late price cut.
What to watch out for
- One year is not a trend. NHC's own words. A rate jump erases the gain.
- The whole payment. The report compares home values with wages; your lender adds taxes, insurance, HOA dues and debts.
- Condo savings. Lower prices on attached homes come with HOA dues and special assessments; read the HOA documents first.
Sources
- National Housing Conference, Colorado housing affordability shows signs of improvement as some workers regain the ability to buy a home, Oct. 12, 2026
- The Colorado Sun, Housing is slightly more affordable in Colorado, a report shows (Colorado Association of REALTORS September 2026 data), Oct. 14, 2026
- Freddie Mac, Primary Mortgage Market Survey, Oct. 29, 2026: 7.24% 30-year fixed
- Payment and income math: 30-year fixed, 10% down, principal and interest at 28% of gross income, calculated by The Kenna Group
Income figures are illustrations, not a loan approval or rate quote; lenders count taxes, insurance, HOA dues and debts. Equal Housing Opportunity.
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