Top Ten Colorado Cities For Homeownership

Dated: 04/01/2014

Views: 9520

According to financial website, nerdwallet.com, ten cities in Colorado are stacking up better than others in terms of places to own a home.  According to U.S. Census Bureau, Colorado saw the fifth-highest percent increase in population of any state between 2010 and 2013. The economy is bustling here, with the Denver metro area expected to add another 39,000 jobs in the coming year. If you’re considering investing in a home here, Colorado also offers a variety of  programs to help buyers find their way to a new home—especially for first-time buyers. Nerdwallet used the following criteria to determine the ranking of the top 10 cities in the state:

Are homes available?  The financial site took into consideration the area’s homeownership rate to determine the availability of homes. A low homeownership rate is likely a signal of competitive inventory, more options for renters rather than buyers and expensive housing. Areas with a high homeownership rate led to a higher overall score.

Can you afford to live there?  Looking at median monthly household income, monthly homeowner costs and median home value to assess affordability and determine whether residents could live comfortably in the area. Nerdwallet.com used monthly homeowner costs to measure cost of living. Areas with high median incomes and low cost of living scored higher.

Is the area growing?  Nerdwallet measured population growth to ensure that the area is attracting new residents and showing signs of solid growth. This is likely a signal of a robust local economy, which is another attractive characteristic for homebuyers.
 

Based on the results, here are the top 10 places to live in Colorado:
1. Firestone

2. Erie
3. The Pinery
4. Pueblo West
5. Windsor
6. Dakota Ridge
7. Castle Rock
8. Commerce City
9. Fruita
10. Parker
Blog author image

Carla Winter - Raymond Selix

Ray and Carla have been working as a team since 1995. Carla’s extensive knowledge of the Denver area real estate market not only includes over 35 years as a Real Estate Broker Associate but also in....

Latest Blog Posts

Denver Home Prices Remain Unchanged In June

In a bit of good news for area home buyers, the median home price in metro Denver remained unchanged in June, which may be a signal that the real estate market in the Mile High City is hitting its

Read More

Exploring Mayfair Montclair

Brick houses and mature trees line the streets of two of Denver’s oldest neighborhoods – Mayfair and Montclair.Originally designed as a wealthy suburb, Montclair homes were required to be at

Read More

Denver Home Prices Rise Fourth Quickest In The US

According to the recent S&P/Case-Shiller Home Prices Indices report released last week, only three other U.S. large markets have seen bigger jumps in home prices than Denver this year. If you are

Read More

Denver Doesnt Make The List For Affordability

The city of Denver makes a lot of lists, but unfortunately for buyers in this market, affordability isn’t one of them. That’s according to the second-quarter Attom Data Solutions 2018 U.S. Home

Read More