Located approximately 60-miles northeast of Denver, the City of Greeley is home to more than 111,000 residents. Housing affordability and job opportunities are two of the main reasons people are moving to Greeley. The area’s job growth has blasted into orbit over the last 10-years, with year-over-year growth averaging twenty-four percent (24%)! Oil & gas exploration, health care, manufacturing, and residential construction are all industries leading to the strong job market.
Greeley is home to the University of Northern Colorado (Go Bears!), offers public access to 41 parks and 8 natural areas to explore, and has a vibrant & popular downtown scene complete with a Friday night Summer concert series. We would be remiss not to mention the fact that Greeley also offers the best Mexican food restaurant in the State of Colorado, Taqueria Rancho Alegre!
Greeley has historically been known as a “drive until you qualify” market. The further east you go in Northern Colorado, the cheaper the rental rates and home prices become. Whether you are in the market for a simple residential condo, a single-family home, or a multi-family investment property, Greeley has it all.
Developers and investors continue to be bullish on the Greeley rental market. Of the 948 residential units that were permitted in 2019, approximately eighty-two percent (82%) were multi-family apartments. The demand for rental properties in Greeley is strong! You should invest in Greeley if you have an above-average risk tolerance but want great CAP rates (Capitalization Rate, aka Return on Investment) and cash flow.