| Granby, CO | Denver, CO | United States | |
|---|---|---|---|
| Population | 2,229 | 706,799 | 329,725,481 |
| Median Income | $59,375 | $51,800 | $53,482 |
| Median Age | 40.8 | 34 | 37.4 |
| Avg. Home Price | $664,600 | $576,000 | $338,100 |
| Unemployment Rate | 5.3% | 7.1% | 6.0% |
| Avg. Commute Time | 22.19 | 25.32 | 26.38 |
The total cost of housing, food, child care, transportation, health care, taxes, and other necessities for a single adult in Granby is $39,606 a year — about the same as the annual cost of living for Colorado of $40,026 and greater than the national figure of $38,433. Housing is one of the largest components of cost of living. In Granby, the median home value is $232,000, greater than the national median home value of $204,900.
Renting is a sometimes lower cost alternative to homeownership. In Granby, some 37.80% of occupied homes are rented, about the same as the 36.2% national renter rate. The typical renter in Granby spends $1,086 a month on housing, about the same as the $1,023 national median monthly rent.
In addition to home value, one of the largest determinants of housing affordability is area income. While nationwide the price of a typical U.S. home is 3.4 times the $60,293 U.S. median household income, housing affordability ratios range from approximately 1.0 in the least expensive cities to more than 10.0 in the country's most expensive markets. In Granby, the median household income is $60,119, 3.9 times the median home value.
Transportation can also be a significant component of cost of living. In Granby, 85.50% of commuters drive to work, compared to 85.5% of commuters nationwide. An estimated 56.00% of workers commute to jobs outside of Granby, a larger share than the 43.7% share of commuters nationwide who live and work in different cities. The average commute in Granby is 23.8 minutes long, compared to the 26.6-minute average commute nationwide. Taking into account the cost of gas, as well as public transit and car maintenance, the EPI estimates that a single person in Granby spends $11,747 a year on transportation, more than the national average of $9,760.
Granby is one of the hottest spots in Colorado to build or purchase a home, cabin, or condominium in the Rocky Mountains. It was even named as one of the top ten places to buy a winter vacation home, according to Vacasa. We are only 85 miles from Denver but feel like a world away.
Granby is an ideal place to settle to become part of an authentic mountain community. Year-round events, school activities, and local pride make Granby the perfect place to turn your mountain house into a home.
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