Why is real estate so expensive in Boulder? (Broomfield, Louisville: real estate market, rent)

[huskydigger]

My theory is that the cost is based on how much the government is willing to pour into student loans because Boulder is such a college town. On Craigslist a room in a shared house costs $500 - $700. So while the student is getting a loan from Uncle Sam and Bank of Mom and Dad that cost is also propping up the price of rent to the point where a 3 bedroom house rents for some $2K a month. If you paid $2K a month for a mortgage you'd be buying a $450K student rental house which, ta da, happens to be right around the average cost for a trashed house in Boulder.

There are much more expensive communities out there though for which the geographical boundary argument is much stronger, ie Aspen, Santa Barbara, Maui

[Katarina Witt]

Originally Posted by huskydigger

My theory is that the cost is based on how much the government is willing to pour into student loans because Boulder is such a college town. On Craigslist a room in a shared house costs $500 - $700. So while the student is getting a loan from Uncle Sam and Bank of Mom and Dad that cost is also propping up the price of rent to the point where a 3 bedroom house rents for some $2K a month. If you paid $2K a month for a mortgage you'd be buying a $450K student rental house which, ta da, happens to be right around the average cost for a trashed house in Boulder.

There are much more expensive communities out there though for which the geographical boundary argument is much stronger, ie Aspen, Santa Barbara, Maui

Actually, you can find some fairly cheap apartments in Boulder if you look. By "fairly cheap" I mean in line with what you'd pay in Denver.

[rwocmo]

But still- who is making enough in Boulder to afford Boulder? Surely not UC professors? You need a really high-paying job to make it there. What are they doing, and how many are doing it, to keep the prices up?

[Neditate]

You do not have to make a lot of money to live in Boulder. The cost of living is really not that much more than other places. Rent is higher than the surrounding areas but as Katiana said there are some affordable places to live.

Do you mean making enough money to afford to buy a home in Boulder?

By the way, there are plenty of high paying jobs in Boulder. High tech and aerospace pay well. There are also lots of lawyers and doctors. CU professors make a good living.

[qfrost]

I think rwocmo means make enough to buy a home in Boulder.

[Idlewile]

Originally Posted by rwocmo

But still- who is making enough in Boulder to afford Boulder? Surely not UC professors? You need a really high-paying job to make it there. What are they doing, and how many are doing it, to keep the prices up?

All the same well-paying professions as anywhere else; if you're senior enough and are qualified, generally, you will be paid well. The people we know that live and work in Boulder are in marketing, financial and engineering sectors; two also work at NCAR.

BTW, professors in general, especially if tenured, can make a lot of money. I have some insight into this with CU and down here at UT with close friends who are professors at both. Both big research schools... the tenure track is extremely appealing financially when you consider other similarly-paying jobs, the fact that professors are paid generally on a 9 or 10 month contract, overall job security, flexibility when compared to other similarly-paying jobs, number of hours worked compared to similarly-paying jobs, and well, getting a paycheck forever if your tenured, can make it extremely rewarding professionally. Also, grants are separate and come with additional income.

[osmanparvez]

If you're not making much money, the best deal in Boulder is to buy affordable housing. There's a lot of recently constructed, efficient, and intelligently designed affordable housing in our community. Once you own it, they can't take it away because you income rises. There are certain rules - like no rentals - but you'll always have a foothold in Boulder at an affordable price.

Pro tip: A lot of affordable housing ends up being rented under the table. As owners age, their incomes rise and their needs change, but they don't want to give up their awesome affordable units.

You'll need to register, take a class, and get in line for the auctions. Seriously, it's worth doing if you qualify. Qualifications are by income and assets, so no sneaking in there with a trust fund. Good luck.

[OhioToCO]

Originally Posted by Idlewile

All the same well-paying professions as anywhere else; if you're senior enough and are qualified, generally, you will be paid well. The people we know that live and work in Boulder are in marketing, financial and engineering sectors; two also work at NCAR.

BTW, professors in general, especially if tenured, can make a lot of money. I have some insight into this with CU and down here at UT with close friends who are professors at both. Both big research schools... the tenure track is extremely appealing financially when you consider other similarly-paying jobs, the fact that professors are paid generally on a 9 or 10 month contract, overall job security, flexibility when compared to other similarly-paying jobs, number of hours worked compared to similarly-paying jobs, and well, getting a paycheck forever if your tenured, can make it extremely rewarding professionally. Also, grants are separate and come with additional income.

Yes, tenured professors make enough to live in or very close to Boulder. They worked hard to get there, and they've earned it.

[Willy702]

Originally Posted by rwocmo

But still- who is making enough in Boulder to afford Boulder? Surely not UC professors? You need a really high-paying job to make it there. What are they doing, and how many are doing it, to keep the prices up?

Lots of high tech and startups in Boulder and close by to provide some of the higher paying jobs. Plus plenty of residents drive to Denver or other points closer by for work. The solution for the high prices in Boulder is live in another nearby city. Longmont and Louisville are not that expensive and reasonable commutes. When it comes down to it there is some cachet to saying you live in Boulder and you pay for it. Its more than a location, to many residents its a statement of who they are.

[Hipchik]

Many people, such as myself, attended CU and upon graduation did not want to leave. We found jobs and lived there because we loved it. There are so many wonderful aspects to Boulder. It was no more expensive to live there than other places. My college roommate was a travel agent and eventually moved to Santa Barbara -- talk about expensive!