SmartAsset’s latest study on the best housing markets for growth and stability showed three Colorado metro areas ranked in the top 10. Based on the data pulled for this analysis, they concluded that Colorado as a whole was a great place for people wanting to own homes. Colorado’s average effective property tax rate (0.58%) is among the lowest rates in the nation. Plus, we have the second highest rate of home price appreciation (per square foot).
SmartAsset wanted to rank the best states in America for homeowners. To complete their analysis, they considered nine different factors. Analysts ranked all 50 states based on factors including foreclosure rates, burglary rates and property tax rates. They looked at the median listing price per square foot, the annual change in home prices (per square foot), home affordability and the annual cost of property taxes and homeowners insurance.
Source: Colorado Association of Realtors