Category : Denver Replacement Window Blog
With metro Denver home prices topping the nation with the fastest growth since February 2013, and property values soaring, some people may want to look outside the metro area to buy a home.
And if you’re in that boat (and willing to add the extra commute time for a good deal), you may want to look to Lamar, ranked No. 1 among the top 10 cities in Colorado for affordable homes.
Homes in the small Weld County town carry an average annual mortgage payment of $8,373 ($697 per month), according to a new SmartAsset report that lists 10 cities in the state with the most affordable homes.
The New York-based financial services and analytics website looked at a number of factors to determine the 10 most affordable places to buy a home. They include:
Annual property tax.
Annual homeowner’s insurance.
Average annual mortgage payment.
Median income of residents.
“There’s a lot more to home affordability than the price a home buyer agrees to pay the seller,” the report said. “Other factors like closing costs, real estate taxes, homeowners insurance and mortgage rates can quickly add up.”
Ten Most Affordable Places to Buy a House in Colorado
7. FORT MORGAN
And the most affordable city to buy a house in Colorado is:
Original article here