BOULDER – Thirteen Colorado cities – including two in Boulder County – ranked among the Best Housing Markets in the U.S., according to WalletHub’s report released in August, 2017.
The report compares 300 small, mid-size and large U.S. cities across 21 key indicators of “Real Estate Market” – which ranked housing-market attractiveness and “Affordability and Economic Environment.”
Each dimension was evaluated with weighted metrics, listed below, and then graded on a 100-point scale, with a score of 100 representing the healthiest. The cities were then rank-ordered.
Most of the metrics fall in the real estate market category.
Real estate market metrics are: home value forecast, median home-price appreciation, average days for selling, share of homes selling for a gain, share of ‘underwater’ homes, home sales turnover rate, ratio of rent price to sale price, foreclosure rate, share of delinquent mortgage holders, number of bank-held homes, vacancy rate, buy vs. rent breakeven horizon, share of young homes, and building-permit activity.
Affordability and economic environment metrics are: housing affordability – which is the only metric that received double weighting, maintenance affordability, population growth rate, job growth rate, unemployment rate, underemployment rate, median credit score.
Longmont ranked 13th and Boulder 104th in the real estate market. Both areas have seen steady price appreciation that outpaced the national rate. Boulder, in fact, tops the nation for strong and stable price appreciation, according to SmartAsset’s annual analysis of best housing markets for growth and stability.
Boulder ranked No. 5 in the category of lowest foreclosure rate following Bellevue, WA; New York, NY; Sunnyvale, CA; and Ann Arbor, MI in the No. 1 position.
But both cities ranked lower for affordability and economic environment, with Longmont at 160 and Boulder at 271. Affordable housing is an ongoing topic for city and county government, which has become more challenging as home prices have risen. However, the area – and entire state – is noted for its strong jobs market and sound economy. Colorado’s economy is among the strongest in the nation, outperforming the nation as a whole in 2016, report analysts with the Business Research Division at the CU Leeds School of Business.
Read the full WalletHub report at wallethub.com/edu/best-real-estate-markets/14889.