Colorado Springs, Colorado. Photo Credit: pilgrims49 (iStock).

Colorado Springs, Colorado. Photo Credit: pilgrims49 (iStock).

The housing market in Colorado is red hot, with statewide home prices increasing approximately 24 percent year over year, as of June 2021. With this in mind, it's not too surprising that a Colorado city was able to break into the Wall Street Journal's list of top 20 'emerging housing markets' for the second quarter of 2021.

In collaboration with, the Wall Street Journal reviewed data for the largest 300 metropolitan areas around the country, ranking Colorado Springs as the 14th hottest emerging housing market, up from a rank of 32nd in the first quarter of the year. At the top of the second quarter list was Billings, Montana, followed by Coeur d'Alene in Idaho, the Eureka-Arcata-Fortuna area in California, Springfield in Ohio, and the Manchester-Nashua area of New Hampshire.

As far as Colorado Springs goes, home prices continue to rapidly rise as more people around the country seek to call Olympic City, USA home. In June, the average price for a home cracked $500,000 for the first time ever at $502,961, a 25.1 percent increase year-over-year.

Will the housing market in Colorado Springs slow down any time soon? Experts doubt it – also not surprising with Colorado Springs' recently scoring as the 'most desirable' place to live nationwide.

A city tucked beside a stunning mountain landscape that's home to a growing downtown and set to be connected to a future Front Range passenger rail, the future is looking bright for Colorado Springs.

To rank these cities, Wall Street Journal and looked at real estate demand, real estate supply, median price trend, and quality of life and economy indicators. Find the full report here.

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Director of Content and Operations

Spencer McKee is OutThere Colorado's Director of Content and Operations. In his spare time, Spencer loves to hike, rock climb, and trail run. He's on a mission to summit all 58 of Colorado's fourteeners and has already climbed more than half.


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