When deciding whether to rent or buy Fort Collins real estate, consider the property, sales and income taxes. According to Smart Asset, the average property tax is 0.65% of your home value. The average home value in Ft. Worth is about $388,000, resulting in annual property taxes of $2,522. Note that assessed values are typically lower than the market value of your home. Those looking at homes for sale Fort Collins can expect to pay 7.55% is combined state, country and local sales tax. In Colorado, the state income tax rate is a flat 4.63%, according to Smartasset.
Cost of Living
According to Bestplaces, the cost of living is 18% higher than the national index of 100. However, this is on par with the state COL at 21% above the U.S. median. This is driven by the rising cost of housing, which is 68% higher in Fort Collins. Health care, transportation and utilities are somewhat lower than the nationwide averages.
The average household income is approximately $60,000, while the average income is $31,000, both better than the corresponding national averages of $58,000 and $31,000, respectively.
If you’re wondering about the rental market here, the average monthly rent is $1,120, compared to $1,057 statewide, and nearly 46% of people rent their homes. A licensed Fort Collins real estate agent can help you find the best deal in your preferred neighborhood.
It typically snows nine months out of the year in Fort Collins, where 57 inches of snow falls each year. After bearing through the cold season with January lows of 18 degrees, you can expect perfect summer days with clear skies and average June high temperatures of 80 degrees.
Those interested in winter sports find the opportunity to ski, snowboard and sled for several months of the year.
Economy & Job Market
City-data reports that Fort Collins has an insulated economy and a workforce based on education, manufacturing and technology. Other industries include finance, trade, construction and business support services.
Bestplaces predicts this insular economy will support future job growth of 52%, compared to 34% nationally. This is good news for those seeking homes for sales Fort Collins since a strong economy bolsters the area’s real estate market.
According to the Coloradoan, the top 10 employers in Fort Collins include:
- Broadcom (formerly Avago),
- Employment Solutions Personnel Services
- Hewlett Packard Enterprise
- New Belgium Brewing Co.
Traffic & Transportation
Fort Collins has an extensive public bus system, known as the Transfort. Residents can also rent bicycle, Zipcar and e-scooter rentals. City highways connect to the downtown area, as well as SH 1, SH 14, I-25, US 287 and other major corridors, according to the City of Fort Collins webpage. The city is growing, bringing additional traffic that will have to be managed appropriately by city planners.
What to Do
The city has many parks and 29 miles of bike trails. Residents often visit Fort Collin’s Old Town. Disneyland thought the city embodied all the elements of a typical American town and modeled its Main Street after the city. Farm-to-table restaurants, music venues and specialty stores line Old Town. You can also attend the annual Colorado Brewers’ Festival and other events.
Schools and Universities
Fort Collins has high-quality schools at every level. This is a key factor for families with young children. Your Fort Collins real estate agent can help you target homes in the best school districts.
Poudre School District educates the city’s K-12 children and is one of the largest employers. There are four high schools and many middle and charter schools as well as 30+ elementary schools. Colorado State University, Front Range Community College and vocational schools allow students to seek higher education in the city.
Crime stats are always of interest to those looking for Fort Collins real estate, as they affect neighborhood safety and home values. At 16.2, the crime rating in Fort Collins ranks well below the national average of 22.7, but the property crime rate at 37.1 is slightly higher than the U.S. mean of 35.4.