Which suits you best…city or suburb? According to a recent article in bizjournals.com, residents of Denver tend to lean more toward the city. When it comes down to it, the reasons are mainly due to childcare and housing costs.
” That’s according to a new report from Care.com and Zillow, which analyzed major cities and their surrounding suburbs to see which is more cost effective for families based on three costs:
- Child care.
- Property taxes.
- Mortgage payments.
Denver bucks the national trend where it’s typically more cost effective to live in the suburbs.
That’s because in Denver, the average family living in the city spends $62,424 a year on housing and child care, whereas in the suburbs they spend an average of $66,059 a year, $3,635 more.
Nationally, families spend $9,073 more a year to live in the city compared to the suburbs.
But, suburbanites typically do have the benefit of a larger home. The median home in suburban parts of Denver metro is 427 square feet larger than the median urban home, according to the report.
And suburbanites’ commute time is longer — with an average of 27.1 minutes, compared to 24.9 for people who love in the city limits.” (bizjournals.com)
So which is more your style? Do you prefer the city atmosphere where you might sacrifice some square footage to keep from emptying your wallet? Or are you more of a suburbian with a little bit larger home that comes with a slightly larger bill for things like childcare and housing prices?
Obviously there are some on both sides of the fence because the housing market (both in the city and on the outskirts of town) is still soaring! With our team of agents constantly studying the housing market trends, we are always ready to successfully assist you with all of your real estate needs. Are you ready to buy or sell a home? Give us a call @ 720-593-2014. We are eager to start working with you!