COLORADO SPRINGS, Colo. (KKTV) – On Monday, Jill Gaebler with Pikes Peak Housing Network addressed issues surrounding housing in Colorado Springs at a City Council work session.

She cited a housing deficit “somewhere between 13,000 and 27,000 homes” and cited significant community opposition to growth and new developments in the city. According to Gaebler, the issue particularly impacts young people in southern Colorado, who “are unable to purchase a home and experience the American Dream.”

According to national data, the average age of a first-time homebuyer has increased from 31 years old to 40 years old over the last decade. The average age of homebuyers overall is 59 years old.

Over time, Gaebler said issues with housing access and affordability will impact the southern Colorado’s economy and the ability to hire a “quality workforce.”

According to Gaebler, incomes in El Paso County have risen by 48% in the last ten years. Average rents have increased 111% and median home prices have increased 141%.

In 2026, the median home price in Colorado Springs was $540,000. Between the monthly mortgage payment, property taxes, property insurance, and interest, the total monthly payment comes out to $3,457.

“If you’re only paying about 30% of your income towards your home cost, you need to be earning $138,000 to purchase that home,” said Gaebler.

She cited a median income in the city of $87,000.

Councilwoman Nancy Henjum highlighted issues beyond housing supply impacting cost of living in southern Colorado: “There’s some severe income inequality and people are really working hard just to keep the homes they have.”

She referenced other challenges as well, increasing homelessness and the constraints the city faces with water usage.

Councilmembers also asked questions about the increasing cost of land, building materials, and other external factors influencing the cost of housing.