Denver’s been pulling high with those looking for a great place to live and a good economy for several years.
Sometimes there’s only one choice: you have to give it to the mountains. The overwhelmingly sunny days and blue skies can’t be beat. Living in an area with a low unemployment rate helps, too.
Colorado delivers an abundance of all of these choice ingredients. But three cities rose to the top of the state in the Money.com ‘Best Places to Live’ in 2022-2023 lists.
Denver and Lafayette ranked in the top 40 of the Best Places to Live in the U.S. On the regional list, Denver and Westminster ranked in the top ten for the Best Places to Live in the West.
The rankings are based on the “things that matter most to people: economic opportunities, quality of life, diversity, and where the best futures lie,” writes Money.com.
Here’s a look at each of these metros and the highlights of accolades that resulted in their ranking.
Denver, No. 7 Best Place to Live in the West; No. 28 Best Place to Live in the U.S.
Denver’s been pulling high with those looking for a great place to live and a good economy for several years. The population has grown and now has more than 700,000 residents, according to Money.com. The city boasts excellent cultural attractions and events alongside outdoor activities year-round, including skiing and snowboarding, hiking, biking, kayaking and camping. Job opportunities are substantial, notably in the tech industry, and the minimum wage was recently increased to $17.29 per hour. The unemployment rate is 3.4%, with a median household income of $85,244.
In the Denver housing market, for February 2023, the median listing home price in Denver was $550K, trending up 2.8% year-over-year, according to Realtor.com. The median listing price per square foot was $355, the median home sold price was $495,500, and homes sold after 39 days on the market at 1.12% below the asking price on average in February 2023, based on the statistics on Realtor.com. Denver is reported as having a “buyer’s market” in February 2023, which means that the supply of homes is greater than the demand for homes.
Lafayette, No. 31 Best Place to Live in the U.S.
With its small-town charm, range of housing options, splendid mountain views, growing business community, and easy access to Boulder and Denver, Lafayette is one of the most popular places to live in Boulder County. The population is just under 30,000, with a median household income of $98,787 and an unemployment rate of 2.8%, according to Realtor.com.
In February 2023, the median listing home price in Lafayette, CO, was $737.5K, trending up 25% year-over-year. Per square foot, the median price was $362. Lafayette is in a buyer’s market, with homes selling after 26 days on the market for approximately the asking price on average in February 2023, according to Realtor.com.
Westminster, No. 9 Best Place to Live in the West
For the regional “Best Place to Live,” Money.com broke the data into four regions. The Western region included the states of Arizona, Alaska, California, Colorado, Hawaii, Idaho, Montana, New Mexico, Nevada, Oregon, Utah, Washington, and Wyoming. Areas considered in these states had a population of at least 50,000, as defined by the U.S. Census.
Westminster rose to the top of the analysts’ evaluation. Located midway between Denver and Boulder in the heart of the Tech Corridor along U.S. 36 connecting Denver and Boulder, the location offers businesses Boulder’s extraordinary intellectual capital and Denver’s vast millennial workforce. The population is about 108,000.
In February 2023, the median listing home price in Westminster, CO, was $518K, trending up 3.6% year-over-year, according to Realtor.com. The median home sold price was $583.5K. In February 2023, Westminster’s housing was in a buyer’s market. Realtor.com statistics show that houses sold on average after 54 days on the market at just 1.19% below the asking price.
Here are the top ten cities named by Money.com as the Best Places to Live in the West:
- Tempe, Arizona
- Kirkland, Washington
- Boise City, Idaho
- Irvine, California
- Fremont, California
- Hillsboro, Oregon
- Denver, Colorado
- Salt Lake City, Utah
- Westminster, Colorado
- Orem, Utah
Read the full story at money.com/best-places-to-live and money.com/best-places-to-live-in-the-west. Housing market conditions can be viewed at Realtor.com by searching specific areas at realtor.com.
By Tom Kalinski. Tom is the broker/owner of RE/MAX of Boulder, the local residential real estate company he established in 1977. He was inducted into the Business Hall of Fame in 2016 and has a 40-year background in commercial and residential real estate. For questions, email Tom at [email protected], call 303.441.5620 or visit boulderco.com.
