Colorado is Becoming One of The Least Affordable Places To Live
By: investUSA360 •
Colorado has seen such a recent boom in its real estate market that it is now becoming out of the reach of it's residents. This is unusual as this type of housing shortage and high rental rates would normally be seen in cities with strong high tech and finance industry clusters similar to New York or San Francisco but now locals in cities around Colorado and finding themselves displaced and struggling to find affordable housing.
Freddie Mac has reported that the amount of affordable housing available to local residents making less than 1/2 of the median income dropped by more than 75% in the span of only 6 years (2010 and 2016). The medium rent has reportedly risen 22.4% since early 2014, a hike that is twice the National norm. The rental rate in Denver is now 12.6% higher than national average.
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