Despite Affordability Issues Denver Other Colorado Cities Still Favorable For FirstTime Buyers

Dated: 07/24/2018

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It’s not often you hear the word “favorable” associated with Denver’s real estate market unless maybe you’re a seller or a home builder. But according to a recent report from NerdWallet, Denver and several metro-area cities were ranked high on a new list of favorable housing markets for first-time homebuyers.

If you examine the criteria used by WalletHub it’s easier to see why Denver would rank #7 among large cities (population of 300,000 and up) and # 51 overall on the personal-finance website’s list.

According to NerdWallet, three main categories were considered in compiling the rankings: Affordability, real estate market and quality of life. Within each of those categories were subsets, and those were given points that were added up to give each city a final score.

Needless to say, Colorado cities that ranked high relied heavily on the quality-of-life score to counterbalance low affordability scores.

The top-ranked Colorado city was Centennial, which came in at #3. The city ranked 114th in affordability, 51st in the real estate market category, and seventh in quality of life. Its total score was 64.74, compared to the #1 city Broken Arrow, Oklahoma, at 67.09.

In the overall list, several other Colorado cities were ranked in the Top 30. Numbers are as follows: Ranking, total score, affordability rank, real estate market rank and quality of life rank.

#6, Thornton, 64.69, 122, 40, 3

#17, Arvada, 63.37, 147, 25, 6

#20, Greeley, 62.95, 110, 69, 4

#23, Longmont, 62.61, 150, 31, 8

#25, Fort Collins, 62.54, 156, 63, 1

#27, Colorado Springs, 61.9, 84, 57, 67

#28, Westminster, 61.89, 124, 53, 18

Ready to start checking out properties in some of Denver’s most favorable areas? Give Metrowest a shout today – we’d love to show you around!

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Brent Sena

Brent was born and raised in Colorado and enjoys all that the state has to offer. Brent is a graduate of Metropolitan State University of Denver, where he received a BS in Business Management. After ....

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