Why Is grand Junctions COL significantly higher than CO Springs? (Colorado Springs: real estate market, houses)

[gassyyoungman]

I know thats a huge question but if anyone will indulge me I'd appreciate it greatly.

I'll be moving to GJ in the coming months. I just find it odd that Springs has a much more affordable real estate market, generally. Particularly in 400-500k range.

Why is that?

Thanks.

[Dreaming of Hawaii]

Possibly there is more housing selection because Grand Junction is 60,000 population and Colorado Springs is 420,000.

In whose book is housing in the 400 to 500 thousand range defined as "affordable"?

[TCHP]

What exactly do you mean when you say CoS is more affordable in the 400k-500k range than GJ? Both places, in that price range, seem to have houses with 3-6 bd and 3-6 bth layouts. Sizes seem to range from 2500-6000 sq ft. Some GJ places have significantly larger lots than some CoS places, but some CoS houses are larger in sq ft. Normal trade off, IMO and I can't see a huge difference in quality.

The larger size of CoS would tend to provide a much greater selection, which appears to be the case; Cos-243 units, GJ - 43 units.

Once you ratchet that down to a more affordable range, say 100k-300k, then the gap closes some. GJ has 600 units while CoS only has 1215 units. Not as big a gap as the higher priced homes, despite the significant difference in population.

[motoracer51]

Simple. We have limited amounts of land within this valley. Irrigated land is worth quite a bit, so to convert farms to housing, right off the bat, you have an increased cost.

The front range, the limits are endless as far as expansion. The only limit I'd think would be water, and they're trying their hardest to steal it from this side.

[DOUBLE H]

Originally Posted by motoracer51

Simple. We have limited amounts of land within this valley. Irrigated land is worth quite a bit, so to convert farms to housing, right off the bat, you have an increased cost.

The front range, the limits are endless as far as expansion. The only limit I'd think would be water, and they're trying their hardest to steal it from this side.

Yes!