4 Colorado Towns Were Recently Named Some Of The Most Expensive In America
Colorado: We have some good news and bad news for you! The good news? We live in the greatest state in America, which literally everyone else knows and acknowledges. The bad news? Since we live in the greatest state, everyone and their dog is trying to move here, too, which is making for a downright outrageous cost of living. Case in point: These four Colorado towns were just named some of the most expensive in America by the online loan marketplace LendingTree.
Coming in at #3 on LendingTree's "The 50 Most Expensive Towns in America" (behind Vineyard Haven, MA, and Summit Park, UT) is beautiful Breckenridge, Colorado, which has a reported $31,611 median income and $547,700 median home value. In addition to these statistics, LendingTree notes an average monthly mortgage of $2,246 and home affordability deficit of -$1,509.
Not far behind Breck is the equally lovely Steamboat Springs; a ski resort and mountain town that welcomes tens of thousands of visitors each year. According to LendingTree, which placed Steamboat as #5 on their list, the median individual income is $32,930 while the median home value is a whopping $460,600. Worse yet? The average monthly mortgage payment is $1,889, and the home affordability deficit is -$1,121.
Fortunately, Breckenridge and Steamboat were the only 2 Colorado towns to make the top 10, with the next most expensive Centennial State community being Montrose (#29). As per LendingTree, Montrose has a median income of $27,684 and a median home value of $202,500, making average mortgage payments $830/month and the home affordability deficit at -$185.
Just barely making the list is the northwest Colorado town of Craig, which is famous for its friendly residents, fascinating museums, and - apparently - the high cost of living. According to LendingTree, Craig has a median income of $30,629 and a median home value of $169,200, which makes most mortgage payments $694 a month and a home affordability deficit of $21.
