Why Veterans Love Colorado Springs
Colorado Springs ranked among the top three cities in the nation
Once again, Colorado Springs has grabbed national headlines by ranking among the top three cities in the nation for veterans to live in a recent WalletHub survey. Several key factors combined for this honor including home affordability, a thriving economy, access to VA health-care and superior quality of life.
Largely recognized for its four key military bases, Colorado Springs has become home to military personnel serving in the region upon retirement from active duty.
“My wife and I have 47 years of combined military experience,” said local Realtor Tom Little. “We like it here because of the availability of the medical facilities and the recreational opportunities afforded to us throughout the local military installations. Additionally, the sheer number of former and retired military personnel gives us a great sense of esprit de corps.”
Key economic indicators show the unemployment rate continues to be relatively low at 3.2 percent with movement away from reliance on military installations to growth in the manufacturing and technology sectors, according to Forbes. There are also strong employment opportunities in construction and sales-based industries across the board.
Attracted by a highly educated and well-trained workforce, several large corporations have moved into the area including Progressive Insurance, software giant Oracle Corporation and Amazon has constructed a new warehouse and fulfillment center. These companies are taking advantage of a $750 million revitalization plan funded by public and private investments that should lead to continued growth well into the next decade.
In addition to the strong economy, the Colorado Springs housing market still ranks as one of the more affordable places to live in Colorado, with an average home sales price of $280,200 for a single-family home and average rental rates coming in around $1,500 per month.
Current available inventory is hovering around a 1.5-month supply of homes for sale and the demand for new homes has remained steady with construction permit applications nearly doubling since 2015.
“The area views are stunning, and buying a home in Colorado Springs creates a sense of being close to nature with easy access to the vibrancy and amenities located in the area,” said Stacy Weber, branch manager of HomeSmart Colorado Springs.
For decades, the nearly 54,000 veterans residing in Colorado Springs have been deeply ingrained into the heart of the community. Access to local VA medical facilities, including the new VA clinic located at 3141 Centennial Blvd., serve our nation’s distinguished service men and women. Dozens of other area services exist to help veterans transition to civilian life through support navigating available military benefits, educational opportunities, medical treatments and psychological counseling.
People, especially those who have honorably served our nation, have taken notice of the natural beauty surrounding the Springs area and are now flocking to make Colorado Springs their permanent residence. Veterans moving into in the area will revel in the ability to interact with their direct peers while taking advantage of abundant recreational opportunities afforded to those who wish to explore all that the great city of Colorado Springs has to offer.
Gini MacDonald is an employing broker at HomeSmart Realty Group in Greenwood Village.