Black Forest, Colorado Springs, CO—80908
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Black Forest, Colorado Springs, CO
As of Oct '25, the median home price in Black Forest, Colorado Springs, CO is $683,000, with a year-over-year change of 0.8%. This indicates that home prices in Black Forest, Colorado Springs, CO are flat. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $683,000 | 0.8% |
| Single Family | $684,000 | 0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $518,000 | 0.8% |
3 Bed | $515,000 | -0.6% |
4 Bed | $716,000 | 0.4% |
| 5 Bed | $917,000 | 1.0% |
% of Housing Stock
Rental Trends — Black Forest, Colorado Springs, CO
As of July '25, Rentcast reports the average rent in Black Forest, Colorado Springs, CO is $1,980, with a year-over-year rent change of -10.4%. Per bedroom, the median rent as of July '25 in Black Forest, Colorado Springs, CO is 1-bedrooms: $1,580, 2-bedrooms: $1,950, 3-bedrooms: $2,510, 4-bedrooms: $2,850. The most common rental property sizes in Black Forest, Colorado Springs, CO are 2-bedroom and 4-bedroom, accounting for 42.1% and 21.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,880 | $1,980 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,580 | $1,580 |
| 2 Bed Rent | $1,910 | $1,950 |
| 3 Bed Rent | $2,440 | $2,510 |
| 4 Bed Rent | $2,800 | $2,850 |
% of Rental Stock
Property Listings — Black Forest, Colorado Springs, CO
As of Oct '25, Realtor.com reports that the median days on market for a home in Black Forest, Colorado Springs, CO is 88. This is a increase of 32.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $797,000 | -12.0% |
Listing Count | 303 | 21.0% |
| Listings as % of Homes | 1.4% | 21.0% |
Days on Market | 88 | 32.0% |
Demographics — Black Forest, Colorado Springs, CO
As of the latest ACS Survey released in 2023, Black Forest, Colorado Springs, CO has a population of 23,400, which has increased by 31.2% over the past 5 years. Black Forest, Colorado Springs, CO is a popular place for families, as children make up 27.7% of the population. The area has a highly educated workforce, with 57.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 25.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,400 | 31.2% |
% Under 18 | 27.7% | 6.1% |
% Seniors | 13.9% | -0.7% |
% WFH | 25.0% | 197.6% |
% w/ College Degree | 57.2% | -0.3% |
As of the latest ACS Survey released in 2023, Black Forest, Colorado Springs, CO is a predominantly white area, with 76.0% of the population identifying as white. The white population has shrunk by 8.7% in the last 5 years. The second most common race or ethnicity in Black Forest, Colorado Springs, CO is hispanic, making up 10.3% of the population. Foreign-born residents account for 6.6% of the population in Black Forest, Colorado Springs, CO, and this percentage has increased by 17.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 76.0% | -8.7% |
% Black | 4.9% | 157.9% |
% Hispanic | 10.3% | 21.2% |
% Asian | 2.7% | 28.6% |
% Foreign Born | 6.6% | 17.9% |
Mortgage and Risk — Black Forest, Colorado Springs, CO
According to HUD data as of 2023, there were 569 mortgage originations in Black Forest, Colorado Springs, CO, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Black Forest, Colorado Springs, CO. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 569 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Black Forest, Colorado Springs, CO
As of 2024, the percent of homes in Black Forest, Colorado Springs, CO under the Section 8 program is 5.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Black Forest, Colorado Springs, CO, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 53 |
Total Units Section 8 | 53 |
% Rentals under Section 8 | 5.8% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $1,580 | $1,710 |
| 2 Bedroom | $200 | $1,910 | $2,110 |
| 3 Bedroom | $530 | $2,440 | $2,970 |
| 4 Bedroom | $700 | $2,800 | $3,500 |
Affordability — Black Forest, Colorado Springs, CO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $683,000 |
| Median Household Income | $136,000 |