These Three Colorado Cities are the Best Places to Buy a Home
If you needed any more assurance investing in Colorado real estate was a good idea, this should be more than enough. In a recent finding from WalletHub, they found that three Colorado cities rank in the top 30 best places to buy a house in 2021.
In the findings, Longmont ranked 24th, Colorado Springs ranked 25th, and Arvada ranked 27th. Additionally, Centennial ranked fifth in the lowest maintenance costs as a percentage of income.
Now, how did WalletHub come to these conclusions? They compared all the cities against these two criteria: real-estate market and affordability and economic environment.
They then broke those two things down into 18 different metrics and each one was graded out of 100 points:
- Home value forecast
- Median home-price appreciation
- Median days on the market
- Share of seriously underwater mortgages
- Ratio of rent price to sale price
- Foreclosure rate
- Shar of people delinquent on their mortgage debt
- Vacancy rate
- Share of young homes
- Building-permit activity
- States recovering quickest from COVID-19
- Housing affordability
- Maintenance affordability
- Population growth rate
- Job growth rate
- Unemployment rate
- Underemployment rate
- Media Credit Score
Colorado Springs also ranked 16th on Norada Real Estate Investments list of 2021's best places to invest in real estate. They found that you can buy about two homes in Colorado Springs for the price of one in Denver.
There are several areas in Colorado that are the latest locations for new home construction. If you're looking for time to invest in real estate, those three Colorado cities are a great place to start.