Housing

Screenshot of a map from choosecolorado.com

126 low-income urban and rural zones in Colorado, coined “Opportunity Zones,” are now eligible for a new federal tax incentive created by last fall’s GOP tax overhaul.

Flickr Creative Commons

Brad Inhulsen has been a real estate broker in Greeley for about 5 years. He says 2018 will be “the year” for homeowners to sell.

“We’re so skewed to the left, to the sellers’ market, that it’s not even funny right now,” he said
 

 

 

More than 77,000 new residents arrived in Colorado this year, according to the U.S. Census Bureau. With the state’s unemployment rate sitting at 2.7 percent, many of the homes Inhulsen has listed along the Front Range are selling in less than one month, Inhulsen said.

Is Fort Collins In A Housing Bubble?

Jun 7, 2017
Jim Hill / KUNC

Northern Colorado real estate is still hot. Single family homes in Fort Collins, Loveland and Berthoud priced under $400,000 sell after an average of 18 days on the market — and sellers are getting slightly above asking price.

In Fort Collins, a starter home — one that has a mortgage comparable to area rent, is now between $300,000 and $400,000 — increasingly out of reach for many first-time buyers.  

But this isn’t a housing bubble.

Jim Hill / KUNC

Colorado is currently the seventh fastest growing state in the nation. Experts expect the bullseye of future growth to be the northern Front Range.

“We’re forecasting the state to increase between 2010 and 2040 by about 2.8 million people — about 500,000 in the north Front Range, in Larimer and Weld counties,” said state demographer Elizabeth Garner.

It all has to do with jobs -- sort of. Data show that in the past 10 years many people are moving from the Western Slope to the northern Front Range looking for work, while high-paying tech industry jobs has brought workers in from other states. It’s the marriage of these two counties and what they have to offer commuters that makes them so economically diverse.

University of Colorado, Boulder Leeds School of Business

Richard Wobbekind has seen decades of change in Colorado, from huge population booms to agricultural busts. As lead economist on the annual Leeds School of Business economic forecast, he and his team pour over data and statistical models to try and suss out how the state’s economy may change in the New Year.

The comprehensive report covers everything from housing costs to molybdenum mining (Colorado is the top producer in the country), but here is what you need to know for 2017.

Courtesy of Be Reel Pictures

Years ago, neighborhoods throughout Colorado were a little more diverse - both culturally and socioeconomically. Now that the state has become a more desirable place to live, diversity in some cities may be at stake.

Fort Collins filmmaker Shari Due’s new documentary, Desplazado (Displaced), looks at the growing issue of gentrification in Colorado.

Stephanie Paige Ogburn / KUNC

The Front Range's booming economy is good news for many. Yet fast growth has caused a housing crunch from Denver to Fort Collins.

Rising rents and home prices are squeezing a vulnerable population: seniors. Groups that work to help lower-income older adults say they are having a harder time placing seniors in subsidized housing and also starting to see more of this population lacking a place to call home.

Bradley Gordon / Flickr-Creative Commons

If you thought Colorado's housing market was crazy last year, then the outlook for 2016 probably won't calm your nerves.

Strong economic growth and continued low inventory will likely keep the market hopping, say experts. While interest rates have ticked up, they are not likely to do so significantly in an election year. That means money is still cheap, another factor pushing buyers into the market.

National Institute For Environmental Health Sciences

Only one of the fastest growing counties in Colorado requires new homes to be built with a system to mitigate a cancer causing gas.

“Surprisingly the entire state of Colorado is what we call red zone for radon. Typically statewide about 50 percent of homes test above the [Environmental Protection Agency] action level of 4 picocuries per liter, so we’re pretty high risk all around the state,” said Colorado radon program manager Chrystine Kelley.

Health officials estimate that about 500 Coloradans die every year from radon induced lung cancer.

David Fulmer / Flickr - Creative Commons

"Colorful Colorado" may one day need to be referred to as "Crowded Colorado," given the number of people expected to soon move here.

Weld County's population is expected to double to half-a-million – and El Paso County will still be the largest county. It's not just the Front Range; A Rocky Mountain PBS I-News analysis of data from the state demographer and the U.S. Census Bureau shows seven of the 10 fastest growing counties will be on the Western Slope, including Eagle, Garfield and Routt.

The numbers show an estimated 7.8 million people will call Colorado home by 2040. All that growth will take a toll on the state's infrastructure as well as water and other natural resources.

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