Beautiful Estes Park,
Colorado Beckons to Those Seeking Outdoor Lifestyle in
Mountain Setting
Cost of Living: Above the National
Average
This pretty mountain town (elevation 7,500) of
nearly 5,500 people is snuggled in stunningly spectacular scenery
at the eastern entrance to majestic Rocky Mountain National Park
in rugged north central Colorado. A popular tourist
destination in the summer, as well as in the autumn when the
Rockies turn golden, Estes Park is a quiet place in the winter
months and home to sturdy souls who enjoy cool, crisp, clean air,
cobalt skies, a slightly funky, outdoor lifestyle and the
laid-back atmosphere of this high country haven. In
general, the population is affluent and educated.
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The cost-of-living in Estes Park ranks above the
national average by about 20% to 25%, primarily because it is a
beautiful place to live, is touristy and rather isolated. Gasoline is 10 to 12 cents higher per gallon than in Denver (where
it is already expensive) and utilities are higher, but the primary
culprit for the higher costs is housing. The median home
price is $300,000; the average price is closer to $440,000 and
most housing is relatively new. Estes is growing, but
much of it is surrounded by national forest and usable land is not
plentiful outside of the town limits, driving existing real estate
prices higher. At any one time, only 350 to 450 homes
are for sale. |
The housing available is primarily condos, town
homes and single family homes; manufactured homes are few.
Small condos with one bedroom, one bath and 650 square feet can be
found for $135,000, but these are on the rustic side. Nicer
units of similar size run in from the mid-$200,000s to around
$300,000. Luxury units with 1,500 square feet begin in the
mid-$300,000s. Small, modest, 2 bedroom single-family homes
in the woods can be found for $200,000, but these generally need
fixing-up and are really for lone wolf types. Comfortable,
modern ranch-style and bi-level homes with 2 to 3 bedrooms start
in the $350,000 range and can easily reach the mid-$400,000s.
More luxurious mountain homes start at around $500,000.
Fall River Village Communities is the only
manufactured/mobile home community in Estes Park; at this writing,
no homes were for sale. We were also unable to
find any apartments for rent. This really is a destination
for homebuyers. It is also a very safe community.
The local unemployment rate is equal to the
national rate. Since the town caters to tourists, though,
many jobs are seasonal. The most common occupations are in
the hotel industry, construction, health care, education and
financial services.
Property
taxes are assessed on a percentage of the property's actual value
and work out to roughly .0045 of a property's market value.
A homestead exemption for qualifying
seniors 65 and above is available. It allows 50% (up
to a maximum reduction of $100,000) in actual value of a primary
residence to be exempt. The person must have owned and
lived in the home for at least 10 years. Taxpayers
55-64 years old can exclude a total of $20,000 for Social Security
and qualified retirement income. Those 65 and above can
exclude up to $24,000. All out-of-state government pensions
qualify for the pension exemption.
Estes
Park, Colorado, Continued....
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