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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Pagosa Springs, CO Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Pagosa Springs, CO Housing Market Trends

With 1,720 people, 598 houses or apartments, and a median cost of homes of $755,418, real estate costs in Pagosa Springs are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Colorado communities.

Single-family detached homes are the single most common housing type in Pagosa Springs, accounting for 56.45% of the town's housing units. Other types of housing that are prevalent in Pagosa Springs include large apartment complexes or high rise apartments ( 17.74%), duplexes, homes converted to apartments or other small apartment buildings ( 12.90%), and a few mobile homes or trailers ( 8.06%).

The most prevalent building size and type in Pagosa Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 40.18% owning and 59.82% renting.

There is a lot of housing in Pagosa Springs built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Pagosa Springs built between 1940-1969 ( 24.88%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.12%). There's also some housing in Pagosa Springs built before 1939 ( 10.71%).

Vacant housing appears to be an issue in Pagosa Springs. Fully 31.11% of the housing stock is classified as vacant. Left unchecked, vacant Pagosa Springs homes and apartments can be a drag on the real estate market, holding Pagosa Springs real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Pagosa Springs Home Appreciation Rates

In the last 10 years, Pagosa Springs has experienced some of the highest home appreciation rates of any community in the nation. Pagosa Springs real estate appreciated 142.53% over the last ten years, which is an average annual home appreciation rate of 9.26%, putting Pagosa Springs in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Pagosa Springs definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Pagosa Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Pagosa Springs's appreciation rate has been 2.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pagosa Springs were at -0.63%, which equates to an annual appreciation rate of -2.49%.

Notably, Pagosa Springs's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Colorado, our data show that Pagosa Springs's latest annual appreciation rate is lower than 60% of the other cities and towns in Colorado.

Average Home Values

Median Home Value

$755,418

Pagosa Springs, CO Home Prices
> $1,475,000
$1,107,001 - $1,475,000
$738,001 - $1,107,000
$590,001 - $738,000
$442,001 - $590,000
$295,001 - $442,000
$147,001 - $295,000
$74,001 - $147,000
$0 - $74,000
9.9%
9.9%
16.0%
16.0%
22.4%
22.4%
22.2%
22.2%
13.2%
13.2%
6.5%
6.5%
6.8%
6.8%
2.3%
2.3%
0.7%
0.7%
0% 100.0%
% of Homes
High

for Colorado

Very High

for nation

Number of Homes And Apartments:

598

Pagosa Springs Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,914 / per month

Homeownership Rate

Owners
Renters
40.2%
40.2%
59.8%
59.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
31.1%
31.1%
68.9%
68.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
22.1%
22.1%
42.3%
42.3%
24.9%
24.9%
10.7%
10.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
56.5%
56.5%
4.8%
4.8%
12.9%
12.9%
17.7%
17.7%
8.1%
8.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
13.4%
13.4%
27.2%
27.2%
50.3%
50.3%
6.2%
6.2%
0.9%
0.9%
0% 100.0%
% of Homes

Popular Neighborhoods in Pagosa Springs

Popular Communities Near Pagosa Springs, CO

Zip Codes in Pagosa Springs, CO