Even though a recent study determined that home affordability in Denver was the second-worst in the country, promising new data shows that buyers who expand into nine different suburbs outside the
Despite Affordability Issues Denver Other Colorado Cities Still Favorable For FirstTime Buyers
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!
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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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,