At its inception in 2001, Centennial became the largest new incorporation in United States history, with a population just over 100,000 residents. The city is geared to be bike- and pedestrian-friendly, boasting spectacular trail routes where people can get out and enjoy mountain views and summer shade and local ordinances establishing more street legal bike lanes. As a high-tech and environmentally-minded community, the home of the Denver Tech Center is often reminiscent of the Pacific Northwest.
Centennial, CO is a great place for affordable rent-to-own
With a median household income of over $109,767
and a median rent of $1,728, the Centennial, CO
rent-to-own market is more affordable than the traditional housing market
which has shown tremendous growth across the U.S. and with it, aggressive
competition for home purchases.
With the current housing shortage trend it can make it harder to become a
homeowner, including in Centennial, CO. This means higher
than average down payments for homes and higher qualification standards for
conventional home loans. With a rent-to-own property, tenants are also
buyers. You can live in the house for a set amount of time before you
purchase it, meaning that you get to know the house, your neighbors, and
your community before making the final purchase. This enables you and your
family to make the right choice based on both information and experience.
Rent-to-own is also a great alternative way to get into a home if you have
bad credit or don't have enough saved for a down payment.
Top Reasons to Live in Centennial CO
Housing Statistics Centennial is rebounding nicely from the real estate downturn with prices and home sales on the rise. The Denver metro area was hit fairly hard and has a lot of ground to make up, but there are positive trends. Centennial saw a 4.6 percent increase in median home sale price over the last year. Even more impressive, home sales increased 36 percent as 823 sales were completed, a number not likely to include the growing instances of rent to own houses. The vacancy rate for apartments is running at 6 percent and vacant housing rate is lower, coming in at 3.5 percent. Rental properties continue to be an option for buyers with typical renters not yet a strong market in the city. Fewer than 15 percent of total housing units are rental properties.
Outdoor Activities Colorado, in general, is a state whose residents enjoy a much focused interest in outdoor activities. Centennial, as a new city, has taken that charge with enthusiasm. With 500 acres of parks, 800 acres of open land and roughly 50 miles of trails, there are ample opportunities for residents to get out and get active on pedal, by foot or on horseback. The Centennial Center Park is an 11-acre park that hosts large events, especially ones catered toward families. The area has a thriving winter sports community once snow falls as well. The High Line Canal trail is 66 miles from start to finish, following a former service road beside an irrigation canal. It winds through several communities and established stands of trees that offer cool shade in the summer and a tranquil backdrop in the winter, while the grandeur of the Rocky Mountains and everything from extreme mountain biking to world-class skiing are just a short drive to the west.
Arts and Culture As a new city, Centennial began without much structure when it came to arts and culture but that gap is soon to close. Picture Centennial is a new city program highlighting local artists and those whose work focus on the area. The inaugural featured artist, Laurie Mohlenkamp, is a professional photographer who focuses on landscape images. In addition to promoting the arts, the city's master plan focuses on creating an outdoor-oriented culture that is environmentally responsible. Centennial Center Park is the epicenter of that focus. It features shelters with gas fireplaces, a spray park, coffee shelters with stool seating and a 3,000 seat amphitheater for open-air presentations and concerts.
Neighborhoods The city limits of Centennial are winding and uneven, following the flow of developments that were more a condition of urban sprawl. Exploring Centennial's different developments will help homeowners decide just which neighborhood is best for the suburban lifestyle they are seeking. A couple neighborhoods are described here: