Over the next three to five years, the Fort Collins real estate industry is projected to be one of the leading U.S. hotspots for home buyers and sellers. With close proximity to Denver and dozens of large manufacturing and high-tech companies fueling its growing economy, Fort Collins is considered the heart of northern Colorado’s business sector. Factors indicating that people are flocking to Colorado to buy homes for sale in Fort Collins include:
According to the National Association of Realtors® Research Group (NAR) nearly 60,000 people recently moved to Fort Collins, a number representing 17 percent of its population. More people between the ages of 18 and 24 moved to Fort Collins (38 percent) than any other age group, followed closely behind by adults between 25 and 34 years old. The percentage of people 35+ years of age who are moving to Fort Collins holds at 27, or roughly three out of every 100 residents.
A primary reason why young adults are making Fort Collins their home is the availability of jobs at Colorado State University, UC Health centers, the Colorado Department of Agriculture and various agri-tech, clean energy and bioscience industries. Microsoft, Hewlett Packard and Intel also have established main offices in the city.
The majority of people moving to Fort Collins were prior residents of:
- Washington, D.C.-Arlington
- Los Angeles-Anaheim-Long Beach
- Colorado Springs
- Kansas City, MO
- Boulder, CO
- Cheyenne, WY
Over 16,000 Denver-Lakewood-Aurora residents have recently moved to Fort Collins. According to Livability, Fort Collins is ranked as one of the top best 15 places in which to live in the U.S. due to its wide variety of employment opportunities, outdoor amenities and educational connections to Colorado State University.
Housing Affordability for New Residents
Any Fort Collins real estate agent knows that prospective home buyers are always thrilled to learn that buying a home is actually more affordable than renting a home. In fact, NAR found that over 40 percent of new residents can afford to buy a moderately priced home in this city. With 85 percent of homes for sale in Fort Collins valued between $250,000 and $750,000, the ability to purchase a home is within the reach of many working professionals. The Fort Collins real estate market also features homes valued at under $200,000 for single adults or small families looking for the perfect place to live.
Consistent Job Growth Outperforming the National Average
Fort Collins and surrounding areas enjoyed 18 percent job growth between 2014 and the end of 2019. In fact, total job expansion in the Fort-Collins and Loveland areas ranked ninth best among other similarly sized U.S. cities. The industry consistently offering the most new positions are those associated with the state and federal government. These companies include the CDC, UC Health, Colorado Department of Public Safety and various research laboratories operated by federal government departments.
Fort Collin’s Home Price Appreciation
Right now is a great time to be selling a home in Fort Collins and anywhere else in Colorado. Single family home values have increased six percent from just a year ago. Condominium prices have also risen by nearly six percent as well, with the median price for a condo now approximately $315,000. Industry experts believe a solid appreciation in Fort Collins home values will steadily increase by a little over two percent throughout 2020.
Attractiveness for Retirees
Fort Collins continues to be a popular U.S. city in which seniors can enjoy their retirement years. Factors contributing to this migration of people over 65 to Fort Collins include:
Retirement taxes are lower than average (Colorado allow for subtraction of annuity/pension that also includes military retirement pay, Social Security and homestead exemptions. In fact, Colorado is one of the few states with the highest retirement tax deductions available)
- Easy access to parks, lakes and walking trails
- Low crime rate
- Excellent health care provided by United Healthcare, Anthem Blue Cross and Blue Shield and expanded Medicare/Medicaid coverage (Colorado ranks in the top ten best states for healthcare
- Public transportation available
- Home to over a dozen retirement communities
Contact a Fort Collins real estate agent today if you are interested in buying or selling a home in Fort Collins and surrounding areas.