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Colorado Real Estate The Top Cities
ying at the foothills of employer of federal workers with
the mighty Rocky Mountains, many federal government offices
the state of Colorado with located in Denver.
an average elevation of 6,800
feet is the state with the From a real estate point of view
highest elevation in the United all four cities have been
States. Its capital and largest witnessing a developmental boom
city, Denver, is nicknamed "The for several years now. While
Mile-High City" because its Denver has witnessed an explosion
official elevation, measured on of development downtown in recent
the fifteenth step of the state years with the Downtown Denver
capitol building's west side, is Partnership estimating that
one statute mile (5,280 feet or 13,760 residential units have
1,609 meters) above sea level. been built in the city’s center
Colorado Springs is the second since 1990, there is still a
largest city in Colorado, while strong demand for high-priced
Boulder and Fort Collins are two properties in the area with a
other hot spots. spate of new projects coming up.
Museum Residences and Art House
The entire state offers Projects are two such
landscapes of striking beauty developments designed and built
with mountains and plateaus and by top-notch architects. While
is rich in gold, silver, and Museum Residences is coming up
other minerals. Once primarily a next to the Denver Museum of Art,
mining and agricultural state, the Art House Project is coming
Colorado's economy is even now up next to the Museum of
driven by mining and energy Contemporary Art. Both projects
industries, telecommunications, have been designed to make “Home
defense and other service is Where the Art is”.
industries. It is also a large
Colorado Springs on the other 1990 to over $300,000 now. The
hand is going through a phase of median rent has also shot up from
urban renewal. The city has set $480 in 1990 to over $900 now.
up a Colorado Springs Urban Boulder, therefore, is today a
Renewal Authority which has very hot real estate market.
designated four areas as urban
renewal sites since 2001: In Fort Collins the emphasis is
downtown’s southwest side; the on second-home and resort
City Auditorium block in the ventures. Demographically, Fort
heart of downtown; the North Collins is presently witnessing
Nevada Avenue corridor in the an increase in health worker and
center of the city; and the Gold medical worker populations with
Hill Mesa property on the many new health offices, medical
Springs’ west side. As a result centers and hospitals are coming
there is now a development boom up in the area. These workers,
going on in the area and many new however, do not have very high
residential properties are coming median incomes, so homes in the
up in a planned manner with good lower end of the market will find
architecture and amenities. more takers than up-market, high
value properties. So, from an
In Boulder a change in investment point of view, Fort
demographics has triggered a Collins is ideal for investment
similar real estate boom. Boulder in second homes, resort ventures
County’s median family income has and homes for the middle class.
doubled over the past 13 years
from $47,800 in 1992 to over Colorado as a whole is on the
$90,000 now. Similarly real upswing. In 2004, the state had
estate values have also more than the 10th highest job growth in
doubled during the same period – the country, with a healthy chunk
medians from around $122,000 in of that coming in the
professional and business place to live, which has led to
services sector. The bottom line an increasing number of people
is that Colorado has many job calling it home.
opportunities and is a pleasant
About the Author:
Drew Hodges recommends that you visit http://www.cohomefinder.com for more information on Colorado real estate.
Read more articles by: Drew Hodges
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