Posted on September 26, 2018 by shawn_manwaring
A very hot topic in our local community today, is Glenwood Springs Affordable Housing. Whether you are a long time local who rents, a person or family new to the area, or an Aspen ski bum trying to make it through Winter, it seems all are very interested in this topic. In the recent years we have experienced a surge in population and economic conditions making all of Colorado and especially the Roaring Fork Valley even more desirable to live in than previously.
it seems like landlords are continuing to up their rents each time a current lease agreement expires. I have one friend who has been living in the same 2 bedroom apartment for the last 3 years and his rent started at $1,200 per month and this year is $1,600 per month. We all know simple rules of supply and demand will lead to a situation like this, but at what point does it give?
It brings me to the main point I wanted to make in this article. We are learning that for more and more individuals and families here in Glenwood Springs, it is becoming more affordable to own than to rent. This seems like a mountain town phenomena over the last several years not just here but all around Colorado. As a realtor working with buyers and sellers I get to see both sides of this day in and day out.
Many of my buyers are renters who have saved enough money to afford a small down payment and are finding that for the same monthly price they were paying in rent, they can own a larger more desirable property. This allows them to start paying their own mortgage and building their own equity rather than contributing to someone else. For my sellers, some are selling because they recognize their values are higher than ever and there are many investors trying to purchase rental properties for their own personal gain and therefore it creates a sellers market.
It seems we are seeing less and less Glenwood Springs Affordable Housing become available. The good news is that there are active proposals to build new construction and offer higher density affordable housing arrangements that our community currently lacks. If you are looking to re-locate, move from renter to owner or for any reason might be interested in learning about our real estate market locally, I would be honored to have a conversation with you and discuss your goals. I look forward to hearing from you!