Finding a home that meets your needs without breaking the bank can be a serious challenge. State-wide, Colorado has a median home value of $369,900. When you add in maintenance costs and property taxes, it can be difficult for many to buy and own a home.
That's why we've compiled a list of affordable cities in Colorado to help you find a new place to live. All of these places are more affordable than average, meaning you can get more bang for your buck.
Looking for the most affordable places in Colorado is a start, but you'll save even more money by working with a great agent.
The top Colorado real estate agents know the local market and where to find pockets of more affordable homes. They can also help negotiate a better price when you do find your dream home.
At Clever Real Estate, we can match you with agents in any area you're interested in — even multiple areas at the same time. You can interview as many agents as you like until you find the perfect place to call home — all at no cost or obligation to you.
Most affordable cities in Colorado
Whether you're looking for a quiet small town or a trendy suburban neighborhood, it's possible to locate pockets of affordability throughout Colorado.
Here are our top picks for Colorado residents on a budget:
Nestled outside of the Boulder-Denver metro area, Firestone is a quiet haven amongst the hustle and bustle of the Front Range. Lauded for its open spaces and unobstructed mountain relief, Firestone gives residents million dollar views without the real estate price tag.
At almost 15,000 residents, Firestone is a small-big city that is perfect for families. 80% of homes are single-family ownership and Firestone was rated #1 best city in Colorado for homeownership, according to NerdWallet.
A golf course, sports complex, library, 640 acres of open space, and 25 miles of bike trails make this a city for sports and nature enthusiasts. Residents can commute quickly to Longmont, Denver, Boulder, or Fort Collins and still build equity in this affordable community.
Just outside of Fort Morgan sits the small town of Brush, Colorado. A lesser known, eastern Colorado city, Brush is only an hour and a half from Denver and just over an hour to Denver International Airport.
Brush is quaint and charming, with a picturesque main street, and we have to admit, that added exclamation point makes it all the more fun to say. The exclamation point came around in 1978 in order to inspire a can do image for the city and its residents, although the actual town was established long before that in 1882.
Settlers and homesteaders heading west stopped in Brush and put down roots next to the fertile South Platte River Valley. To this day, Brush is an agricultural community with residents that descended from the original settlers and founding families.
Brush is a short distance from Greeley, known for its energy and farming industry, and Fort Morgan. Telecommuters and digital nomads can afford to put down roots here and still reap the benefits of the nearby Rocky Mountains, Boulder, and Denver.
While the town is small with a population of 5,364, its residents don't lack for activities and community engagement. A recreation center, roller skating rink, senior center, a school system for K-12th graders that even offers free summer lunch to ensure kids in the community are well fed even when school is out. If you're looking for a warm welcome to Colorado, look no further than this charming plains town.
Even after you've found a more affordable place to live in Colorado, moving there can be expensive. By working with a Clever Partner Agent, you'll have an expert in your corner and you may be able to take advantage of Clever Cash Back.
When you buy a home with a Clever agent, you might be eligible for up to 0.5% cash back to use on anything you want. For the average home value of $369,900, you'd pocket $1,850 to help you move (or splurge on a great housewarming gift for yourself).
3. Fort Morgan
Just next door to Brush lies the often underrated and easily overlooked town of Fort Morgan. Eastern plains towns of Colorado get a bad rap because certain legislation inspired much controversy with relaxed fracking regulations, just a few years back.
However, Fort Morgan is home to 11,000 people that work within its vibrant industries of agriculture, manufacturing, and city government. Fort Morgan is a home-run municipality, so locals have a variety of job opportunities without having to commute into and out of the larger surrounding cities.
As Boulder, Denver, Longmont, and Fort Collins continue to grow, more and more Colorodans and transplants will push out to inexpensive areas that have social and economical infrastructure. If you desire a city that values nature, preservation, and progress, look no further than Fort Morgan.
With myriad fishing ponds, a 240-acre wildlife park, and 77 acres of developed park land, there are plenty of ways to enjoy Colorado's great outdoors without paying Colorado prices. Home values in Fort Morgan are just beginning to rise, currently sitting at $208,500. Crime is extremely low, with one count of arrest occurring so far this year.
Fort Morgan is family friendly, facilitates easy nature access, and is gentle on your wallet if you're a first time home owner or just starting out.
This northwestern town gets as cold as Alaska during the winter months, but summers sure are beautiful. Gentle rolling hills and rocky outcroppings mark this Colorado hideaway, attracting fishermen and sport hunters from all over.
Agriculture is big but the town of Craig is a close-knit community that hire its own to staff locally run businesses and restaurants. Craig is family oriented and affordable. Steamboat Springs is a short drive away, making this the perfect location for ski bums, hunters, and rafters. The housing market in Craig is cooling so now could be a great time to buy.
This southern city looks and feels vastly different than the rest of Colorado. It's situated on the historic Santa Fe trail and just 21 miles north of Raton, New Mexico. Trinidad feels more like an arid, desert climate than the lush, wet valleys of Summit County.
If you like to play, Trinidad should be your next home. Close to the Sangre de Cristo and the San Juan mountain ranges, Trinidad allows its residents access to some of the best terrain in the country. Taos and its world renowned ski terrain isn't far away either. New Mexico's Capulin Volcanoes are close and so are Colorado's Great Sand Dunes.
Trindad's industry is somewhat limited. Booms and busts were frequent, following the oil industry's fluctuations. However, currently Trinidad relies on tourism and cannabis as its main industries and benefits from its place along the border.
The benefits of a great real estate agent
If you're just researching affordable places to live, you might wonder why you need a real estate agent. They're the ones that help you once you've already decided on a house, right?
Not necessarily. The truth is, it's never too early to start looking for an agent. In fact, talking to a realtor early on in the process can help you narrow down your options much faster than doing research on your own.
A real estate agent's job is to know everything about their local area. They'll find the best deals in desirable neighborhoods — and might just help you snag your dream home for an affordable price. Let a Clever agent help you discover your options today — all while you enjoy 0.5% cash back!
Frequently asked questions about affordable places to live in Colorado
In addition to shopping in some of the most affordable areas, you'll want to work with an experienced real estate agent. They can find you hidden gems at low price points. A good agent can also negotiate like a pro to get you a lower sale price and more buyer incentives. You may also be able to take advantage of home buyer rebates.
We recommend using the 28/36 rule to know how much house you can afford. This means your housing expenses shouldn't exceed 28% of your income, and all of your total debt shouldn't exceed 36%. Learn more about how to calculate your home buying budget.