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Real Estate Prices & Overview

Old Colorado City East median real estate price is $414,688, which is less expensive than 77.6% of Colorado neighborhoods and 43.3% of all U.S. neighborhoods.

The average rental price in Old Colorado City East is currently $1,926, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 78.6% of Colorado neighborhoods.

Old Colorado City East is a suburban neighborhood (based on population density) located in Colorado Springs, Colorado.

Old Colorado City East real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Old Colorado City East neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Old Colorado City East has a 12.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 70.7% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Colorado Springs, the Old Colorado City East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Astoundingly, the Old Colorado City East neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 98.2% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Colorado Springs neighborhood.

In addition, according to NeighborhoodScout's research, Old Colorado City East is better suited for first-time home buyers than 87.4% of neighborhoods in the state. Most homes here are priced below the state's median house value, yet maintain comparably good appreciation rates over the last decade relative to other neighborhoods in Colorado. Along with an exclusive multi-metric measure of neighborhood quality developed by NeighborhoodScout that scores high here in this neighborhood, this means that buying into the neighborhood is not only an accessible option but considered a decent first time home buyer choice for building equity in your first home, while being in a quality neighborhood

Occupations

With 2.3% of employed workers living in the Old Colorado City East neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 96.8% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Diversity

Did you know that the Old Colorado City East neighborhood has more Romanian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Romanian ancestry and 2.8% have Greek ancestry.

Old Colorado City East is also pretty special linguistically. Significantly, 2.6% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 97.5% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Old Colorado City East neighborhood in Colorado Springs are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 64.2% of U.S. neighborhoods. In addition, 2.8% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 72.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Old Colorado City East neighborhood, 39.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 28.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.1%), and 13.6% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Old Colorado City East neighborhood is English, spoken by 93.6% of households. Other important languages spoken here include Italian, Spanish and German/Yiddish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Old Colorado City East neighborhood in Colorado Springs, CO, residents most commonly identify their ethnicity or ancestry as German (24.2%). There are also a number of people of English ancestry (18.8%), and residents who report Irish roots (16.1%), and some of the residents are also of Italian ancestry (6.8%), along with some Scottish ancestry residents (4.9%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Old Colorado City East neighborhood spend between 15 and 30 minutes commuting one-way to work (42.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.7%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (16.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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