Banning Lewis Ranch, Colorado Springs, CO—80927
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Banning Lewis Ranch, Colorado Springs, CO
As of Oct '25, the median home price in Banning Lewis Ranch, Colorado Springs, CO is $507,000, with a year-over-year change of -1.9%. This indicates that home prices in Banning Lewis Ranch, Colorado Springs, CO are decreasing. 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 | $507,000 | -1.9% |
| Single Family | $507,000 | -1.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $462,000 | -1.7% |
4 Bed | $553,000 | -1.8% |
| 5 Bed | $612,000 | -1.8% |
% of Housing Stock
Rental Trends — Banning Lewis Ranch, Colorado Springs, CO
As of July '25, Rentcast reports the average rent in Banning Lewis Ranch, Colorado Springs, CO is $2,280, with a year-over-year rent change of -16.2%. Per bedroom, the median rent as of July '25 in Banning Lewis Ranch, Colorado Springs, CO is 1-bedrooms: $1,730, 2-bedrooms: $2,080, 3-bedrooms: $2,650, 4-bedrooms: $2,850. The most common rental property sizes in Banning Lewis Ranch, Colorado Springs, CO are 4-bedroom and 3-bedroom, accounting for 39.9% and 32.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,060 | $2,280 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,700 | $1,730 |
| 2 Bed Rent | $2,050 | $2,080 |
| 3 Bed Rent | $2,670 | $2,650 |
| 4 Bed Rent | $2,800 | $2,850 |
% of Rental Stock
Property Listings — Banning Lewis Ranch, Colorado Springs, CO
As of Oct '25, Realtor.com reports that the median days on market for a home in Banning Lewis Ranch, Colorado Springs, CO is 95. This is a increase of 84.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $525,000 | 5.0% |
Listing Count | 139 | 11.0% |
| Listings as % of Homes | 2.0% | 11.0% |
Days on Market | 95 | 84.0% |
Demographics — Banning Lewis Ranch, Colorado Springs, CO
As of the latest ACS Survey released in 2023, Banning Lewis Ranch, Colorado Springs, CO has a population of 6,960, which has increased by 79.1% over the past 5 years. Banning Lewis Ranch, Colorado Springs, CO is a popular place for families, as children make up 33.5% of the population. The area has a highly educated workforce, with 55.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,960 | 79.1% |
% Under 18 | 33.5% | -12.3% |
% Seniors | 8.0% | 27.0% |
% WFH | 21.3% | 491.7% |
% w/ College Degree | 55.0% | -2.0% |
As of the latest ACS Survey released in 2023, Banning Lewis Ranch, Colorado Springs, CO is a predominantly white area, with 61.7% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Banning Lewis Ranch, Colorado Springs, CO is hispanic, making up 22.6% of the population. Foreign-born residents account for 3.4% of the population in Banning Lewis Ranch, Colorado Springs, CO, and this percentage has decreased by 39.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 61.7% | -2.8% |
% Black | 5.3% | -20.9% |
% Hispanic | 22.6% | 6.6% |
% Asian | 2.4% | -11.1% |
% Foreign Born | 3.4% | -39.3% |
Mortgage and Risk — Banning Lewis Ranch, Colorado Springs, CO
Banning Lewis Ranch, Colorado Springs, CO lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Banning Lewis Ranch, Colorado Springs, CO
As of 2024, the percent of homes in Banning Lewis Ranch, Colorado Springs, CO under the Section 8 program is 3.2%. 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 Banning Lewis Ranch, 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 | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 3.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $510 | $1,700 | $2,210 |
| 2 Bedroom | $620 | $2,050 | $2,670 |
| 3 Bedroom | $1,070 | $2,670 | $3,740 |
| 4 Bedroom | $1,470 | $2,800 | $4,270 |
Affordability — Banning Lewis Ranch, Colorado Springs, CO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $507,000 |
| Median Household Income | $141,000 |