Broomfield, Colorado

Broomfield, Colorado Details

BOOMING BUSINESSES

The city houses Interlocken Advanced Technology Environment, a sprawling 1,100-acre business park housing telecom powerhouse CenturyLink, tech giant Oracle and global ski corporation, Vail Resorts. JP Morgan Chase will soon erect a 150,000 square foot, $220 million data center in the city.

In 2016, the number of businesses opening in the city, including over 20 corporate, national and regional headquarters, vaulted to 9.1 percent. With its strategic location, and proliferation of tech companies and corporate headquarters, it is predicted to be crucial to future business networks. In Census data tracked from July 2014 to July 2015, the city was deemed the ninth fastest-growing one in the country. This robust growth equates to wider employment opportunities and higher salaries.

EMPLOYMENT

The city’s higher wages are enticing to those pursuing employment or a career change. This year the average wage soared 58 percent higher than the entire state’s. According to the 2017 US Bureau of Labor Statistics, the metropolis’ average salary was $89,191, surpassing Denver’s median of $56,300.

To put this boom in perspective, 30,331 jobs in 2007 mushroomed into 141,171 in 2015 — a 35 percent increase. Since 2012, the town has added 7,300 jobs, equating to $882 million in capital investments. Over the past few years, it has experienced an upturn in high tech and R&D firms. Job growth over the next 10 years is predicted to be 40.19 percent.

EARNINGS

The town’s median earnings per worker in 2017 were $60,188. Median income encompassing all household members was $83,334. This is substantially higher than Colorado’s $56,300 average.

HOUSING

The city’s economic expansion has resulted in a healthy housing climate. According to a May 2018 Zillow report, the median home value currently listed is $499,500, while the median price of homes that sold is $411,600. On average, rent for a one-bedroom apartment is $1,378 a month, and two-bedroom apartments cost $1,667 per month.

TAXES

The total sales tax rate for the city is 8.15 percent. Colorado’s state income tax rate is an across-the-board 4.63 percent of Federal taxable income, heedless of income level. The city levies an average property tax of $1,977 (0.73 percent of median home value). These taxes amount to approximately 2.21 percent of residents’ yearly income.

EDUCATION

Broomfield is a well-educated community. A sizeable 52.46 percent of its adult population have a bachelor’s or advanced degree, compared to the national average of only 21.84 percent. Its institutes of higher learning include Westwood College of Aviation Technology and the Keller Graduate School of Management. Other nearby institutes include Front Range Community College and Regis University. The town’s high school graduation rate is 79.4 percent.

CRIME AND FIRE

The city’s low crime rate enhances its appeal as a very livable area. The past 15 years have seen a steady reduction in crime, with violent crime less than the national average by 86.46 percent, and, for property crime, lower than the national property crime rate average by 1.88 percent. In 2016, the city’s violent crime rate was lower than the entire state’s violent crime rate by 84.31 percent. The property crime rate was lower than the entire state’s property crime rate by 12.26 percent.

North Fire Rescue District is staffed with 113 firefighters, serving the area from seven stations. The training center and headquarters engage 30 administrative and fire fighting members. Engine and fire station tours are open to the public.

LAW ENFORCEMENT

The city and county are a single entity. The municipality does not have a separate sheriff’s department. The force is comprised of 148 certified police officers and 52 civilian employees. The police department provides traditional law enforcement services as well as overseeing the detention center, courthouse security and emergency management.

THINGS TO DO

Some of the city’s popular attractions are:

• • Butterfly Pavilion and Insect Center — The only stand-alone, non-profit invertebrate zoo in the country, the Pavilion provides interaction with 1,600 free-flying butterflies, as well as a tarantula named Rosie, and an octopus. Admission is $12 for adults, $10 for seniors and $8 for children 2-12 years old.
• • Golf — The city is dotted with four golf courses: Omni Interlocken Resort Golf Club, Greenway Park Golf Course, Eagle Trace Golf Club and Broadlands Golf Course.
• • ThemeScape Escape Rooms — Escape rooms are themed interactive games in which participants must utilize clues, crack codes, and solve puzzles to escape a locked room.
• • Broomfield County Commons Open Space — Established in 2003, this 86-acre park is utopia for bike riding, walking, jogging, dog walking, picnics, playing soccer, or even glimpsing the occasional coyote. The park is also outfitted with a state-of-the-art lightning prediction apparatus called the THOR Guard System.

Please give us a call. We’d be happy to furnish a comprehensive market analysis of your rental property.

Broomfield Property Management

Our property management team specializes in residential areas throughout Broomfield, CO. We offer multiple services to take your rental property and convert it into reliable income. We have a thorough screening process that helps to identify the right tenants for your property. Our team works hard to keep both parties happy through effective communication, bullet proof lease agreements, and timely monthly rent collection. We offer maintenance services to enhance the property and ensure that it will retain or increase in value. We oversee everything, allowing you to sit back and relax and know that your property and your tenants are in good hands.

Contact us today if you are ready to receive a comprehensive analysis of your rental property and to inquire about our Broomfield area property management services.