Top Ten Colorado Cities For Homeownership

Dated: 04/01/2014

Views: 9492

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

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

Neighborhood Spotlight Castle Rock

While it’s experienced a tremendous amount of growth over the past several years, Castle Rock has somehow managed to keep that small-town feel. With a variety of independently owned shops,

Read More

Pace Of Resale Price Gains Slowing In Denver

For six consecutive months, year-over-year average gains in home-resale prices across metro Denver slowed slightly in July from the previous month's pace. However, the average resale prices in

Read More

20 Best Places For Families In Colorado

Washington, D.C.-based financial analyst site, Wallethub, recently released its report on the 20 best places to raise a family in Colorado, and you may be surprised at some of the contenders. The

Read More

House Prices Cooling In The Mile High But Inventory Remains Low

According to a monthly update from the Denver Metro Association of Realtors (DMAR), metro Denver’s heated housing market continued to show signs of cooling in August, with single-family home sales

Read More