Colorado Springs
RANK #931 / 996 NAT · #10 / 15 CO · POP 730,323
1YR FORECAST: -2.7%
5YR OUTLOOK: +10%
With Pikes Peak dominating the western skyline, El Paso County, Colorado, offers a distinctive blend of mountain scenery and prairie landscapes. The county seat, Colorado Springs, is the state's second-largest city, situated about an hour south of Denver. Residents experience a mild climate with abundant sunshine, contributing to a community feel that values outdoor living. The region boasts extensive outdoor recreation, including over 130 miles of trails, numerous parks, and nature centers, providing opportunities for hiking, biking, and exploring unique geological formations like those found in Garden of the Gods and Paint Mines Interpretive Park.
Life in the county attracts a mix of families and professionals, many of whom own their homes. Commute times average under 25 minutes, with options including Mountain Metro Transit and regional bus services like Bustang connecting to Denver. The public school systems in El Paso County are generally well-regarded. The local economy is experiencing steady growth, driven by investments across various sectors, including aerospace, defense, cybersecurity, and advanced manufacturing. This economic activity supports a community with a focus on local businesses and a commitment to maintaining a lower tax burden for residents.
Above national median (4.7x)
Above national median
Prices declining
Above national median (13x)
Housing is fairly valued at 6.5x relative to local economic output. Climate and geography support a structural premium. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Master-Planned Residential Developments (Various Communities)
Multiple (e.g., Meritage Homes, Richmond American Homes, Campbell Homes, Toll Brothers)
|
$500M | Under Construction |
|
Golden West Wind Farm
Energy Renewal Partners
|
$370M | Operating |
|
South Plant (CO) Natural Gas Power Plant
City of Colorado Springs
|
$245M | Operating |
|
Pike Solar and Storage Project
juwi Inc. / Colorado Springs Utilities
|
$200M | Operating |
|
Jackson Fuller Energy Storage Project
NextEra Energy Resources / Colorado Springs Utilities
|
$100M | Operating |
|
Midway Solar Project
Front Range-Midway Solar, LLC
|
$100M | Proposed |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 996 counties.
The data is not encouraging — El Paso County scores just 6/100 on the Boom Town Index, ranking #931 of 996 counties. Job growth at +0.7% and median household income of $82,748 reflect an economy that has been contracting or stagnating relative to the rest of the country.
El Paso County leans toward the expensive side. A median home value of $390,500 against an income-to-home-value ratio of 0.21 means housing eats a bigger share of local earnings than the national norm. Renters face $1,507/month on average.
El Paso County's population is growing — up +1.1% YoY — while the job market is roughly flat (employment change of +0.7%). Home values shifted -2.2% over the past year. In-migration is outpacing local hiring, which often points to remote workers or retirees driving the headcount.
There's a moderate stream of newcomers. About 2.28% of residents moved from another state, which is above average and suggests El Paso County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.