Is Colorado A Good State For Young Homeowners? Here is Your Answer

It certainly feels like it is getting to buy a home in Colorado. But we are not alone.

Purchasing a home is difficult anywhere in the country due to rising interest rates, taxes, and homeowners insurance.

Homeownership seems unattainable for so many of us. I am a millennial and many of my friends are as well. The overall narrative is that homebuying is not realistic. However, that might be changing and will continue to do so in Colorado.

2024: The Year to Buy a Home in Colorado?

Experts believe that 2024 might be an ideal year to buy a home. They said that 2023 was a difficult year for the housing market, but they are optimistic that 2024 might be the right year to become a homeowner.

Young Homeowners in Colorado

Millennials are starting to make waves in the housing market. It took millennials longer than other generations, but the dream is becoming a reality for many.

Gen-Z on the other hand is more aggressive in buying a home and entering the housing market. The generation is still young, but experts say that buying a home is a bigger priority for Gen-Z than when millennials were their age.

Colorado Young Homeowners

Agent Advice compared the ages of homeowners across all 50 states and figured out where the youngest homeowners in the country are.

Colorado has the 10th most homeowners younger than 34 years old. Agent advice says that Colorado has over 200,000 homeowners under 34 and over 25,000 of those homeowners are mortgage-free.

With the overall cost of housing expected to go down, it is likely we will see the number of homeowners grow.