Successful real estate investors know just how valuable location really is.
And the projected decrease in home prices over the next year could mean now is the time for investors to buy.
As Colorado has emerged a hotspot for Americans relocating amid the pandemic, Silicon Valley tech companies are starting to follow, like data miner Palantir Technologies, which Bloomberg reported is set to shift headquarters from downtown Palo Alto to Denver before they’re expected to go public this September.
Speaking to the state’s value, Tony Julianelle, CEO of Colorado-based property management firm Atlas Real Estate, told Business Insider that while real estate investments are great for passive income generation, that old cliche is true: location makes all the difference when it comes to returns. The better the location you invest in now, the wealthier your likely tenant class becomes, which calls for higher rent revenues for landlords down the line.
An expert on local markets and Colorado-living, Julianelle joined Atlas in 2018 after a 20-year career in the mortgage business, where he managed loan origination across seven states in the midwest. Since then, he’s seen Atlas through a number of award recognitions, and brings his midwestern markets expertise to the table when it comes to deciding what’s next for the firm’s growth.
“We’re not going to expand our business where we’re not ourselves going to purchase assets in,” Julianelle said of the three markets he says Atlas is focused on, which exist in proximity to the front range of the Rocky Mountains.
Each offering a distinct lifestyle to residents and homeseekers, here are the Colorado cities that made the cut for Julianelle.
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1. Colorado Springs
With just under half a million residents, Colorado Springs is a dense suburb where about 60% of residents own their homes. The city ranked 47th on the list of healthiest places to live in America.
Home to an above average school system and a variety of coffee shops and parks, Colorado Springs is also known for its attractiveness to families.
The median home value in Colorado Springs is $248,700 and the median rent is $1,072.
2. Fort Collins
Fort Collins is home to around 160,000 residents, and is ranked as one of the best places to live in Colorado.
More than 50% of the city’s residents own their homes, and the area is known for its dense suburban feel, and many restaurants, coffee shops, and parks.
The city ranked 25th on the list of cities with the best public schools in America, and 36th on the list of healthiest cities in America.
The median home price in Fort Collins is $338,100 and the median rent is $1,278.
3. Denver
Denver is an urban city home to almost 700,000 residents, where homeowners and renters represent equal halves of the housing market.
The area is known for its variety of bars, restaurants, coffee shops, and parks, and is attractive to both families and young professionals.
Denver ranked 11th on the list of best US cities for young professionals and 27th on the list of healthiest places to live in America.
Denver’s median home value is $357,300 and the median rent is $1,217.
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