If you are preparing to move close to the scenic Rocky Mountains and the cultural hub of the Denver metro area, you may have your eyes set on beautiful Aurora. This is a popular suburb of Denver, and it is home to approximately 360,000 residents. The suburb is known for its many parks as well as its culture, job opportunities and friendly ambiance. Learning more about what life in Aurora may be like for you can help you to determine if this is the right suburb of the Denver metro area for you and your loved ones to relocate to.
Mortgage Options in Aurora
Many people who are planning to move to Aurora have big plans to purchase a lovely Colorado home and to lay down roots. A few of these individuals may have the financial wealth necessary to pay cash for a home, but many others need to apply for a home loan. Residential mortgage options are significant in Aurora. As with many other areas of the country, loan applicants in Aurora can benefit from access to conventional residential loans, jumbo home financing programs, FHA programs, VA loans and more. You can select from between a 15 and 30-year term, and you can choose between a fixed and adjustable rate loan. Work with your home lender to set up monthly mortgage payments that are affordable for your budget.
Affordable Housing in Aurora
You may have heard that the Denver area has high housing prices, but homes in Aurora are priced below the national average. In fact, the U.S. Census Bureau reports that the median home price in this area is approximately $189,000. Some people may opt to rent a home for a while before buying a home. If you choose to rent an Aurora home, the median rental rate is $1,024 per month.
Median Income for Aurora Residents
Because housing in Aurora is seemingly very affordable, you may think that income levels would be low here. The reality is that many people who live in this affordable area commute to Denver for access to high-paying jobs. The median per capita income in Aurora is $25,115, and the average household income is $53,011. Approximately 15 percent of the population falls below the poverty line. With these facts in mind, you can expect to enjoy a reasonable cost of living in Aurora.
Aurora Public Schools
Learning more about public schools in an area is important if you are preparing to relocate to a new home with your children. There are both public and private schools in and around the Aurora area that can provide your children with a quality education. Aurora Public Schools is the local school district that serves pre-K through high school age children. There are dozens of schools located throughout the town to provide education in a convenient location close to students’ homes. The district has a reasonably high graduation rate and exceptional educational and enrichment programs to benefit children.
Crime Rates in Aurora
While there is much to love about life in Aurora, the unfortunate reality is that crime is a concern for area residents. The area ranks higher statistically than state and national averages in many areas. In fact, the only category that it ranks lower than a national average is in the area of assault. There are numerous pockets of the community that are known to be safer to live in than others, and you can ask your real estate agent to steer you in the direction of communities that are statistically safer when you search for a new home.
You may be eager to get started working in your new job and to enjoy living within close proximity to the beauty and outdoor recreation of the Rocky Mountains. Aurora is a wonderful place to call home with many pros, but it does have a few cons to consider. It is wise to initially get pre-qualified for a home loan and to learn more about the maximum price of homes you can afford. Then, you can confidently explore the home market in Aurora to find the right home for you and your family to relocate to.