{"id":16832,"date":"2020-08-21T13:40:24","date_gmt":"2020-08-21T17:40:24","guid":{"rendered":"https:\/\/www.cubesmart.com\/blog\/?p=16832"},"modified":"2023-11-07T16:04:53","modified_gmt":"2023-11-07T21:04:53","slug":"moving-to-denver-9-things-to-know","status":"publish","type":"post","link":"https:\/\/www.cubesmart.com\/blog\/city-guides\/denver\/moving-to-denver-9-things-to-know\/","title":{"rendered":"Moving to Denver: 9 Things to Know"},"content":{"rendered":"\n
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Image by Jacquelynne Kosmicki<\/a> from Pixabay<\/a><\/figcaption><\/figure>\n\n\n\n

It\u2019s the tenacity and forward-thinking of Denver\u2019s forefathers that turned a desolate mining village into a thriving metropolis. Today, the Mile-High City swarms with culture because Denverites carry on with this tradition. Rated as the second most educated city in the U.S., Denverites choose to pay an additional tax devoted to cultural and scientific pursuits. <\/p>\n\n\n\n

There are seven major-league sports teams housed in the city and countless cultural buildings including famous art galleries, theaters, museums, and concert venues. An innovative collection of city parks dot the cityscape, making it an easy city to travel on foot or bike. <\/p>\n\n\n\n

Even the weather is idyllic, which makes it one of the best cities for outdoor enthusiasts<\/a>. The thin air, stemming from Denver\u2019s mile-high elevation, traps the sun\u2019s heat and makes for a warm year-round climate. The only negative, if you can call it that, is residents have little excuse for not getting out to see what the everchanging city has to offer this week. To make things a little easier, we\u2019ve put together a moving guide to help you figure out where to start your Denver adventure. Learn about the local schools, the housing market, the cost of living, and more.
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1. Denver\u2019s Housing Market<\/strong><\/h2>\n\n\n\n

If you\u2019re planning on moving to the 5280 and want to buy real estate, get ready to move on what you see. Denver, Colorado is currently a seller\u2019s market. Due to interest and mortgage rate cuts, people moving to the area are buying up homes left and right. At the same time, the drop in rates encourages current owners to hold on to their homes. <\/p>\n\n\n\n

This struggle between old and new residents equates to high demand in a market of dwindling inventory which causes the housing market to rise, if only slightly. Projections show the housing market is up by 1% from 2019. Analysts anticipate this upward swing to continue and for it to rise another 3.4% by the end of 2020. If this sounds a little low to you, then consider that Denver\u2019s housing market has been on an upward trend since 2012. <\/p>\n\n\n\n

Depending on the neighborhood chosen, the value of homes in the area varies drastically. Median home values in Denver range from $660,500 in South Park Hill to $186,800 in the suburbs of Windsor. If you\u2019re looking to save a bit of money, look for a home with smaller square footage and keep things you don\u2019t use at home in a self-storage facility convenient to your location. A well-organized unit can save you time when planning a city adventure or a mountain getaway.
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Denver Rental Rates<\/h3>\n\n\n\n

One great thing about living in Denver is the relatively cheap rental rates. It costs nearly twice as much to rent an apartment in the Big Apple than it does in the Mile-High City. Whether renting or buying, plan to spend around $2 per square foot on the average renter. Buyers can stretch the dollar a little further by getting a home outside the city\u2019s epicenter. It\u2019s common for people to save as much as $575 per month by living in the suburbs.
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Property Taxes in Denver<\/h3>\n\n\n\n

With an average effective tax rate of .55%, Colorado comes in 4th among states with the lowest property taxes. This means the owners of a home purchased in Colorado with a value of $450,000 would pay property taxes in the approximate amount of $2,475. By contrast, owners of a home valued at the same amount and taxed at the national average of 1.08% would pay closer to $4,860.
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2. Denver Communities<\/strong><\/h2>\n\n\n\n

Cherry Creek<\/h3>\n\n\n\n

Considered one of the best neighborhoods in Denver, Cherry Creek has a mix of upscale businesses and luxurious duplexes and townhouses. Cherry Creek is still growing and a number of new high-rise condominiums have been built in the past few years. There are more than 50 places to eat in Cherry Creek North shopping center, and 100+ different stores. Public schools in Cherry Creek are higher rated than average, making it a great place for families to settle. When you’re ready to make the move, check out our storage facilities and let us help ease the transition.
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Uptown<\/h3>\n\n\n\n

One of Denver’s oldest neighborhoods, Uptown is home to plenty of beautiful Victorian homes. But you’ll also find a mix of modern structures, upscale condominiums, and trendy restaurants. Many young professionals call Uptown home, but you’ll also find a mix of retirees, artists, and families. There’s plenty to do in this neighborhood: City Park is a great place for outdoor adventures, Restaurant Row is a must-visit for culinary delights, and the Paramount Theater is the place to be for concerts, shows and film screenings. Ready to make the move to Uptown? Stop by our storage facility and let us take care of your belongings.
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Capitol Hill<\/h3>\n\n\n\n

Home to numerous apartment buildings, houses, and condominiums, Capitol Hill is a blend of hip and history. You’ll also find haunted mansions and historical churches. You’ll find a diverse range of residents in capitol hill, ranging from young, single professionals to artists and hipsters as well as families and retirees. Local schools are above average, and there’s plenty to do for kids and adults. When you’re ready to make the move from your current home to Capitol Hill, visit one of our storage facilities and see how we can help make that move just a little easier.
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3. The Cost of Living in Denver<\/strong><\/h2>\n\n\n\n

Living in Denver, CO won\u2019t completely drain your bank account, but you may struggle to save your pennies if you don\u2019t land a good job before you arrive. As of 2020, Colorado\u2019s cost of living hovers at 12% higher than the national average. This makes it less expensive to live in Denver than it does in places like San Francisco and Los Angeles, but more expensive when compared to places like Memphis and Tulsa. <\/p>\n\n\n\n

Expenses Outside of Housing Costs<\/h3>\n\n\n\n

The average four-person household can expect to shell out $3,500 per month on non-rent expenses while a single resident usually pays closer to $970. Note the individual expenses of one person exceeds that of the per person rate for the family of four by almost $100. Finding a few roommates willing to shoulder some of the burdens may help offset living expenses. <\/p>\n\n\n\n

Sales Tax<\/h3>\n\n\n\n

Sales tax in Denver, CO combines multiple tax rates for a minimum combined sales tax of 8.31%. This percentage comes from the following breakdown:<\/p>\n\n\n\n