A report by SmartAsset, a personal finance technology company, identified the healthiest housing markets in Colorado and around the country.
On a city level, the healthiest housing markets in Colorado were clustered in the Denver metro area and along the Front Range. Ken Caryl and Wheat Ridge in Jefferson County topped the list, followed by Centennial in Arapahoe County.
Jefferson County overall was a standout, with just 1.7% of homes decreasing in value over the last 12 months and 3.2% of households reporting negative equity. Lakewood was also in the top 10, as well as Arvada, Littleton and Westminster, which are partially located in Jefferson County.
SmartAsset’s fourth annual housing study drew data from the U.S. Census Bureau and Zillow, and rated markets based on their stability, affordability, fluidity and risk of loss. Affordability, determined by the monthly cost of owning a home as a percentage of household income, accounted for 40% of a market’s score.
[Are you building affordable housing or attainable housing?]
Several counties in the Eastern Plains rated highly in the report. Logan, Washington and Prowers counties were among the most affordable markets. Bent and Phillips counties had low concentrations of homes with negative equity.
On the Western Slope, Rio Blanco County was among the healthiest Colorado housing markets, with low home costs as a percentage of income. Lake County in the High Country also stood out.
Danielle Andrus was previously the managing editor for Colorado Builder, and is currently Editor for the Journal of Financial Planning.