Apartment vs. House: What Should You Buy in Colorado
Colorado has so many unique homes and apartments available for purchase, and it’s a good idea to look at both options before you decide. You might think one or the other is best for your situation, and doing a bit of extra research might change your mind. If you are thinking about moving to Colorado, then look at this comprehensive guide on the best places to look for homes and apartments in the state.
Best Places to Buy a Condo/Apartment
If you are looking at investing in some property in Colorado, then a condo is the best choice for your investment. The state is well known as a snow bunny state, and it attracts tourists from all over the world to ski its gorgeous slopes every year. This means that visitors are likely looking for a better short-term rental than a typical hotel, and you can make quite a bit by offering up your condo.
1) Fraser, Colorado
Fraser is a smaller town of around 1,400 people located in the southern part of the state. It’s about an hour away from 4 different mountains, and it’s an excellent place for anyone who wants to take a short vacation. The local Amtrack provides residents with quick access on their seasonal ski train to the nearby Winter Park, considered one of the best places to ski by locals.
The town has quite a few apartments and condos available for purchase, and the prices are great. The median listing price for condos in Fraser is in the upper 700k range, and the average size for the condos available is close to 1,300 square feet.
2) Meeker, Colorado
Meeker has an approximate population of 2,400 permanent residents, and it’s right on the western edge of the Colorado border. There are plenty of amazing towns with fantastic features for visitors in the winter and the summer. This hidden gem has some of the best real estate prices in the state, so it’s a prime place for investors to check out.
While most towns in Colorado have been built for the colder weather, Meeker is full of fantastic attractions for the summertime. With great camping, beautiful trails, and a spectacular golf course (Meeker Golf Course, which is maintained often and hosts many events throughout the year), it's no wonder people enjoy living here. The median listing price for condos is in the upper 80k range, and the average size is about 870 square feet.
3) Boulder, Colorado
This is one of the largest cities on the list, but it’s a great town with some excellent real estate prices. Boulder has a population of close to 108,000, and the city is located just a 34-minute drive away from nearby Denver. It has its own airport (Boulder Municipal Airport), and the city is located next to many major highways, so it's an excellent place for anyone who wants to visit some of the nearby mountains.
The median listing price for condos in Boulder is in the low 500k range, while the average size is around 960 square feet. There are plenty of units on the market and more coming in every day, with new developments being built all around the area. Boulder is a great residential city with many great outdoor features (such as local parks, hiking trails, and plenty of green space to explore) perfect for families.
4) Durango, Colorado
Durango is in the southern part of the state, and it is very close to the New Mexico border. It has a population of roughly 19,000 residents, and it’s known by locals for its old-world charm and its fantastic ski resort (Purgatory Ski Resort). If you are looking for places with outstanding real estate prices and access to major cities, border towns are usually some of the best.
The town is surrounded by beautiful mountains, and it’s minutes away from several larger ski resorts, including Chapman Hill, Hesperus, and Wolf Creek. A few new developments and condo buildings have opened up in the city, and the prices are excellent. The average price of a condo is in the lower 200k range, and the average size is about 500 square feet.
Best Places to buy Homes in Colorado
There are quite a few places in the state with great homes at great prices. These cities are often more rural, but they are still close to the more prominent places in the state. These are perfect towns for remote workers looking to save some money while working from home.
1) Castle Rock, Colorado
Castle Rock has about 73,000 residents, and over 25% of the city comprises parks and open spaces. This beautiful city is a great place to find homes, and the town is located near so many fantastic features. It’s just a 40-minute drive to nearby Colorado Springs and a 45-minute drive to the big city of Denver, so you are never far away from the action.
Castle Rock has an average median home sale price in the mid 600k range, and there are hundreds of homes available to explore. There are plenty of homes with reduced pricing to get quite a bit for your money compared to other cities. Castle Rock is an ideal place to look at if you want a perfect home for the long term or if you’re interested in investing in some homes as rental properties.
2) La Junta, Colorado
Another great city with affordable home prices is the city of La Junta which has around 7,300 residents. The city is full of great history and is right on the Arkansas River. La Junta is about a 2-hour drive away from Colorado Springs and an hour away from nearby Pueblo.
Locals know la Junta for its tarantula migration and its old-west theme, but the town also has some fantastic home prices. The medial home listing price for LA Junta is in the high 100k range, and they have quite a few homes on the market.
3) Pueblo, Colorado
If you want to move to a city near some of the best skiing in the country, then Pueblo is your best choice. It has a population of close to 111,000 residents, and they are considered to have the least expensive residential real estate prices in the whole state, so it’s the best place to find a family home in a large city.,
The median sale price for Pueblo is in the mid-200k range, and it’s a densely residential town. Pueblo is a quick 43-minute drive to Colorado Springs and a 2-hour drive to the big city of Denver.
4) Federal Heights, Colorado
The city of Federal Heights is located right above Denver, and it has tons of great housing options with spectacular prices. It’s home to a large water park that attracts visitors from all over the state, and it has a population of roughly 14,000 residents.
Federal Heights has a median home sale price in the mid-300k range, and their real estate market is considered a buyers market with more homes available than buyers who want them, so you are sure to find a great home. It’s located a 30-minute drive away from Denver, so you can be close to everything you need in the big city.
Whether you want an apartment or a house, you can find it somewhere for a great price in Colorado. With so many great cities, it’s easy to find the home or condo of your dreams.