Do you want content like this delivered to your inbox?
Share

Colorado on top tier of well-run states, but observers warn of growth challenges

Share

Colorado State Growth

Tupper Briggs

Tupper began his real estate career in 1973 and has earned every accolade from the National Association of Realtors available over the years...

Tupper began his real estate career in 1973 and has earned every accolade from the National Association of Realtors available over the years...

Feb 13 2 minutes read

A new national ranking of the best-managed states places Colorado in the top 10 in the nation, but analysts say growth issues could make managing the state’s economy more challenging in the years ahead.  High housing prices can be a disincentive for people—and new businesses—to relocate to Colorado.  A median-priced single-family home in Denver now costs $475,000 (even more in the foothills), while a typical couple makes around $95,000 in annual household income—which is near the limit a typical couple can afford.   

Two factors that should spur more construction—and more inventory for buyers to select from—are an increase in building permits for new single-family homes and the partial repeal of the condominium construction defects law that discouraged construction of condominiums and townhomes over the last decade. 

More important than housing costs, traffic congestion makes road improvements a major focus for Colorado legislators as well.  Fortunately for foothills residents, the time to commute to downtown Denver is nearly the same as, or less than, the time to commute from other outlying areas like Parker, Northglenn and Louisville—and foothills residents live 30 minutes closer to Colorado’s ski areas.


Selling Your Home? 

Get your home's value - our custom reports include accurate and up to date information.

Get Home Value
We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info