RIFLE, Colo. (KREX) — This is Rifle, population. 11,000. Most known for its hunting, fishing, and outdoor activities, people wanting to get away from the packed city streets can find themselves here.
Broker Alex Kates with Roaring Fork Sotheby’s tells me this small town hasn’t escaped the inflation found across the western slope. Yet, Rifle’s prices stay well below some of the infamously expensive places nearby.
Alex says Rifle’s economy doesn’t change as fast as other towns either.
Most places on the western slope got bombarded by city dwellers during covid, causing a housing market boom. This massive movement swept away most housing availability just as quickly as it came…and Alex says Rifle is still trying to recover.
He tells me the market varies between what price range you’re looking for – houses on the higher end are abundantly more available than starter homes and smaller houses.
He says the average cost of a single-family home is anywhere from $300,000 to $400,000, and renting is about 500 to 700 dollars a month per door.
Alex says the biggest issue right now isn’t just the price or availability – it’s interest rates. The continually growing interest prices most buyers out of homes they would regularly be able to afford.
Not to mention insurance, and the lack thereof for homes outside of town due to prevalent wildfires this summer.
Though Rifle does have its problems challenging the real estate market, it has escaped crazy prices much more than other places not so far away, like Aspen and Vail, with the average cost of houses in the millions.