Quick facts: Manitou springs, CO

Quick Facts

114.3
Cost of Living
above US average
4,710
Population
16.35
Crime Rate per 1000
below US average
$72,775
Median Income
below US average
$425,000
Median House Price
above US average
$1409.4
Average Rent
above US average
10%
Poverty Rate
below US average
6.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $72,775.

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Income Needed to Buy

βœ— Stretch
$133k/year
Based on $425,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $133k vs median $72,775
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Income Needed to Rent

βœ“ Affordable
$60k/year
Based on $1409.4/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($72,775) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Manitou springs, CO

Manitou Springs is a charming small town located in El Paso County, Colorado, nestled at the base of Pikes Peak. Known for its stunning natural beauty and vibrant arts community, this picturesque destination attracts visitors with its eclectic downtown area and historical significance. The town is famous for its mineral springs, with several spring sites offering naturally carbonated water rich in minerals. Outdoor enthusiasts will find ample opportunities for hiking, biking, and exploring nearby attractions, including Garden of the Gods Park and Red Rock Canyon Open Space. The Manitou Incline, a challenging hiking trail, draws adventure seekers keen to take on its steep ascent. The town's arts scene thrives with galleries, local shops, and annual events like the Manitou Springs Heritage Center and the Manitou Springs Music Festival. Visitors can also explore the historic Manitou Springs Penny Arcade and enjoy the scenic beauty of the surrounding mountains. With its unique blend of history, culture, and outdoor activities, Manitou Springs is a delightful destination for any traveler.

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