Commerce City Real Estate
Commerce City, Colorado is a city located in the Denver metropolitan area, just northeast of Denver. It is a rapidly growing city with a population of over 57,000 people as of the 2020 Census, and it is known for its vibrant local economy and strong real estate market. In this article, we will take a closer look at the real estate market in Commerce City and the factors that are driving its growth.
One of the key factors driving the real estate market in Commerce City is the city’s strong local economy. The city is home to a number of major employers, including the Adams County School District 14, the United Parcel Service (UPS) package distribution center, and the Suncor Energy oil refinery. In addition, the city is located near major transportation routes such as I-76, I-270, and E-470, making it a hub for transportation and logistics companies.
As a result of its strong local economy, Commerce City has seen a steady increase in job growth and population over the past decade, leading to a surge in demand for real estate in the area. According to Zillow, the median home value in Commerce City was $405,704 as of January 2023, a 10.6% increase over the past year. In addition, the city’s median rent price was $2,188 as of January 2023, which is higher than the national average.
The real estate market in Commerce City is also benefiting from the city’s ongoing efforts to revitalize its downtown area. In recent years, the city has invested in several key projects aimed at improving the quality of life for its residents, including the development of a new recreation center, a new public library, and a new civic center. These investments have helped to attract new businesses and residents to the area, leading to increased demand for real estate in the city’s downtown core.
Another factor driving the real estate market in Commerce City is the city’s proximity to Denver. While Commerce City offers a more affordable cost of living than Denver, it is still just a short drive away from the many amenities and job opportunities that Denver has to offer. This has made Commerce City an attractive location for young professionals and families who are looking for an affordable alternative to the higher cost of living in Denver.
In conclusion, Commerce City, Colorado is a vibrant and growing city with a strong real estate market. The city’s strong local economy, ongoing downtown revitalization efforts, and proximity to Denver are all contributing to the city’s continued growth and appeal to homebuyers and renters. As Commerce City continues to develop and expand, it is likely that its real estate market will continue to thrive, making it an excellent location for anyone looking to invest in real estate in the Denver metropolitan area.