Best places to buy rental properties in Colorado

January 11, 2022
● Written by
Teddy

Colorado

Investing in Colorado

Colorado has a diverse economy and growing population. It's particularly attractive to renters due to its countless natural surroundings and ski resorts. With a vibrant tourism industry and a strong job market, consider Colorado as the home for your next rental property!

The Nophin team crunched the numbers and found the five best places to invest in Colorado rental properties.

Statewide vacancy rates

CO Rental Vacancy Rate via Federal Reserve Bank of St. Louis

Denver, CO

Denver, otherwise known as the Mile High City, is a great place to buy rental properties. The city sees more than 300 (80%+) days a year of sunshine and is located close to the Rocky Mountains.

  • Population: 715,522
  • Median household income: $72,661
  • Median 1-bedroom monthly rent: $1,790
  • Median listing home price: $599,000

Boulder, CO

Boulder is a college town home to the University of Colorado. It's located northwest of Denver has some of the best mountain biking trails in the US.

  • Population: 108,250
  • Median household income: $72,279
  • Median 1-bedroom monthly rent: $1,641
  • Median listing home price: $1,100,000

Fort Collins, CO

Fort Collins is known for its breweries. With Colorado State University in the area, Fort Collins is a great place to invest in properties.

  • Population: 169,810
  • Median household income: $70,528
  • Median 1-bedroom monthly rent: $1,195
  • Median listing home price: $595,000

Colorado Springs, CO

Colorado Springs is Colorado's second most populated city and has scenic views of the Rocky Mountains and attractions such as Pikes Peak and the Garden of the Gods.

  • Population: 478,961
  • Median household income: $67,719
  • Median 1-bedroom monthly rent: $1,200
  • Median listing home price: $465,000

Durango, CO

Durango is a great place to buy properties. With more restaurants per capita than San Francisco and one of the longest skiing seasons in the country, Durango is a vibrant town with a rich history.

  • Population: 19,071
  • Median household income: $65,424
  • Median 1-bedroom monthly rent: $2,192
  • Median listing home price: $750,000

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With FDIC-insured bank accounts and cards that seamlessly integrate with easy-to-use software, Nophin helps landlords increase returns and automate rental property finances. Check out what we offer on the Nophin homepage!

Methodology

To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.

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Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

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