Powers Corridor, Colorado Springs, CO—80916
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Powers Corridor, Colorado Springs, CO
As of Oct '25, the median home price in Powers Corridor, Colorado Springs, CO is $341,000, with a year-over-year change of -4.4%. This indicates that home prices in Powers Corridor, Colorado Springs, CO are decreasing. According to Zillow, the 1-year price projection is -1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $341,000 | -4.4% |
| Single Family | $346,000 | -4.2% |
| Condos | $238,000 | -7.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $257,000 | -6.9% |
3 Bed | $338,000 | -4.2% |
4 Bed | $376,000 | -4.1% |
| 5 Bed | $411,000 | -3.3% |
% of Housing Stock
Rental Trends — Powers Corridor, Colorado Springs, CO
As of July '25, Rentcast reports the average rent in Powers Corridor, Colorado Springs, CO is $1,570, with a year-over-year rent change of 5.4%. Per bedroom, the median rent as of July '25 in Powers Corridor, Colorado Springs, CO is studios: $1,070, 1-bedrooms: $1,180, 2-bedrooms: $1,440, 3-bedrooms: $2,040, 4-bedrooms: $2,340. The most common rental property sizes in Powers Corridor, Colorado Springs, CO are 2-bedroom and 3-bedroom, accounting for 37.9% and 30.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,490 | $1,570 |
| Studio Rent | $1,070 | $1,070 |
| 1 Bed Rent | $1,100 | $1,180 |
| 2 Bed Rent | $1,400 | $1,440 |
| 3 Bed Rent | $2,050 | $2,040 |
| 4 Bed Rent | $2,340 | $2,340 |
% of Rental Stock
Property Listings — Powers Corridor, Colorado Springs, CO
As of Oct '25, Realtor.com reports that the median days on market for a home in Powers Corridor, Colorado Springs, CO is 62. This is a increase of 14.0% 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 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $360,000 | 3.0% |
Listing Count | 155 | 15.0% |
| Listings as % of Homes | 0.5% | 15.0% |
Days on Market | 62 | 14.0% |
Demographics — Powers Corridor, Colorado Springs, CO
As of the latest ACS Survey released in 2023, Powers Corridor, Colorado Springs, CO has a population of 40,600, which has decreased by -1.3% over the past 5 years. Powers Corridor, Colorado Springs, CO is a popular place for families, as children make up 31.1% of the population. The area has a poorly educated workforce, with 18.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,600 | -1.3% |
% Under 18 | 31.1% | 2.6% |
% Seniors | 7.9% | 29.5% |
% WFH | 9.0% | 150.0% |
% w/ College Degree | 18.5% | 7.6% |
As of the latest ACS Survey released in 2023, Powers Corridor, Colorado Springs, CO is a predominantly hispanic area, with 37.6% of the population identifying as hispanic. The hispanic population has grown by 8.7% in the last 5 years. The second most common race or ethnicity in Powers Corridor, Colorado Springs, CO is white, making up 37.1% of the population. Foreign-born residents account for 12.6% of the population in Powers Corridor, Colorado Springs, CO, and this percentage has decreased by 2.3% 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 | 37.1% | -9.3% |
% Black | 15.4% | 9.2% |
% Hispanic | 37.6% | 8.7% |
% Asian | 3.6% | -28.0% |
% Foreign Born | 12.6% | -2.3% |
Mortgage and Risk — Powers Corridor, Colorado Springs, CO
According to HUD data as of 2023, there were 852 mortgage originations in Powers Corridor, Colorado Springs, CO, of which 48.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in Powers Corridor, Colorado Springs, CO. Investor activity is low, as 3.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 852 |
% Conventional Loans | 48.0% |
% Government Loans | 52.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Powers Corridor, Colorado Springs, CO
As of 2024, the percent of homes in Powers Corridor, Colorado Springs, CO under the Section 8 program is 5.0%. 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 Powers Corridor, 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 | 367 |
Total Units Section 8 | 295 |
% Rentals under Section 8 | 5.0% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $260 | $1,100 | $1,360 |
| 2 Bedroom | $240 | $1,400 | $1,640 |
| 3 Bedroom | $250 | $2,050 | $2,300 |
| 4 Bedroom | $290 | $2,340 | $2,630 |
Affordability — Powers Corridor, Colorado Springs, CO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $341,000 |
| Median Household Income | $63,400 |