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Old 07-08-2018, 07:06 PM
 
85 posts, read 55,605 times
Reputation: 127

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Hello,

My wife, kids, and I have been looking for a nice place to settle and "raise our family" as it were. We currently live in Houston, my wife is from here but I'm from Florida. I have relatives that live in various areas across Wyoming and they continue to try to talk us into moving up there but I feel that it's probably extremely boring. I have a friend that lives near Cheyenne that tells me all the time that they go into Denver anytime they want to do something fun.

That said, we're a fairly conservative, mid 30's, mix-race couple with three kids. We're pretty much "blue collar" and have a household income roughly between $55-58k, which goes fairly well in Houston depending on the neighborhood. I've been reading that the average household income in Denver fits in with what we currently make, but I've been reading a lot of complaints lately that the cost of living is skyrocketing in Denver, is this true? Will a $50-$55k income be enough to live in Denver? (or the suburbs, we don't have to or want to live downtown.)

Also, I've read that there's a pretty big sentiment from people in Colorado that they don't like people moving in, especially from Texas, is this true? Would we face any hostility? I remember reading an article not too long about about people moving to Oregon from California having their vehicles vandalized. Is that something we'd have to worry about?

We're not looking to move to an "it city" and try to impose our will, politics, or tell people how we did it better elsewhere, just looking for a good place to raise our kids and possibly fit into a community.

Any information you can provide would be appreciated.

Thanks
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Old 07-08-2018, 08:10 PM
 
Location: Dallas
889 posts, read 1,914,515 times
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I don't live in Denver, but a family of 5 with $58k income sounds like it would be tough to do in Denver based off what I know of it.....
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Old 07-08-2018, 08:13 PM
 
Location: Denver CO
20,847 posts, read 11,564,988 times
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sorry but no, that income will not support a family of 5 in Denver or the Denver metro. Possibly some other parts of Colorado but are your jobs/income transportable? Lower cost areas usually have fewer job options, unfortunately
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Old 07-08-2018, 09:14 PM
 
Location: Aurora, CO
6,519 posts, read 10,173,168 times
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Agreed with emm. Unless you have a few hundred grand in existing equity, 55k-60k isn't gonna cut it for a family of five in Denver. A place like Pueblo might work, but it's rough as hell around the edges, and you'd be in for major culture shock coming from Houston.
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Old 07-08-2018, 11:35 PM
 
Location: Arvada, CO
13,219 posts, read 24,286,892 times
Reputation: 12906
I'm going to suggest Colorado Springs instead. They have less of the transplant hate IME as well. Lots of Texans down there all year long.

I'm from CA, and I've lived in CO for 11 years. It's rare that people are jerks to your face about it, but if you don't walk around with the Broncos horse on your body 365 days a year, you're likely to be perceived as a transplant.

I've never really felt like I fit in here (for various reasons), but even if you have a similar experience, and can deal with it, you'll do just fine.
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Old 07-09-2018, 11:17 AM
 
85 posts, read 55,605 times
Reputation: 127
Quote:
Originally Posted by Count David View Post
I'm going to suggest Colorado Springs instead. They have less of the transplant hate IME as well. Lots of Texans down there all year long.

I'm from CA, and I've lived in CO for 11 years. It's rare that people are jerks to your face about it, but if you don't walk around with the Broncos horse on your body 365 days a year, you're likely to be perceived as a transplant.

I've never really felt like I fit in here (for various reasons), but even if you have a similar experience, and can deal with it, you'll do just fine.
Thanks, I appreciate the reply!

I look at Denver's median income, I think, hey... that's similar to what we're making in Houston, I suppose we could theoretically have a similar lifestyle in Denver, although likely a much safer environment and a lot more to do outdoors, but people say that the median household income isn't enough? I hate to see some of the hovels that people making less than the median income live in.

I hadn't really looked at Colorado Springs, but I assume the job market isn't as diverse as it is in Denver?
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Old 07-09-2018, 11:49 AM
 
Location: Denver CO
20,847 posts, read 11,564,988 times
Reputation: 31501
According to this analysis, the income required to buy a home in Denver is $87,222.49

Mortgage rate: 4.41 percent

Home price: $441,500

Monthly payment: $2,035.19

Salary: $87,222.49

If homebuyers in the Denver metro put 10 percent down instead of 20 percent, the required salary increases from $87,222.49 to $102,527.12.

https://www.hsh.com/finance/mortgage...es.html#denver

Even if you are renting, you'd presumably need a 3 bedroom and those are about $1500 at a minimum, more if you want a single family home and not teeny tiny. And more for a nicer area with better schools. And so on.

A single person could do it on that money, but a family of 5 is a lot more expensive to provide for than a single person.
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Old 07-09-2018, 12:08 PM
 
Location: Colorado...
659 posts, read 808,041 times
Reputation: 885
Not even enough money for a family of 5. Don't do it, you will always be behind the eight ball.
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Old 07-09-2018, 04:17 PM
 
Location: Prescott Valley, AZ
2,652 posts, read 2,295,090 times
Reputation: 2649
I would look into Boise, ID. Plenty of homes between the $200k to $400k range that fit your income.

https://www.zillow.com/homes/for_sal...28_rect/10_zm/
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Old 07-09-2018, 04:42 PM
 
Location: Colorado
722 posts, read 504,068 times
Reputation: 1043
Colorado Springs isn't that much cheaper than Denver anymore. Hopefully some long time CoS residents can chime in here but housing has gone up dramatically since we've moved here in 2015.
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