Douglas County, Colorado
Douglas County, Colorado
The population of Douglas County, Colorado measures in at 375,988 as of July of 2022. It has its name due to the fact that the residents and officials of the area wanted to honor the Senator of the United States, Stephen A. Douglas. The seat of this county is Castle Rock. It is included as part of the metropolitan statistical area of Denver-Aurora-Lakewood. Nestled between the two largest cities of the state – Colorado Springs and Denver – it is ranked as having the highest median income per household. If you want to invest in real estate as a business venture or you are in search of real estate to reside in or around the area, you will find that it is highly advantageous.
DOUGLAS COUNTY DETAILS
Douglas County is a county that is lightly wooded by the sweet-smelling ponderosa pines that are sprinkled about. The terrain is unique in that it offers a variety of characteristics. There are foothills and relaxing streams, mesas, and more. The two creeks – Cherry and Plum – rise up within the region and flow north into the South Platte River of Denver. Mostly, the economy of the county is based on the ranching industry. However, in recent years, the development of the suburb has also been complimenting the area’s economy. Many residents choose to reside within Douglas County and make their way out to other counties and cities to engage in work and career-related pursuits.
Interestingly, Douglas County is one of the first of the original of a total of 17 counties within the state that were part of the Colorado Territory that was created by the Colorado Territorial Legislature in the year of 1861. Just five months before the county was created, the Senator of Illinois, Stephen A. Douglas passed away. The people of the time decided to name the county after him as a way to honor his life.
There are three state-based parks located within the land area of Douglas County. These include Roxborough State Park, Castlewood Canyon State Park, and Chatfield State Park. There are some areas of the county that are located within the Pike National Forest. In addition to this, certain areas cross by the South Platte Trail. The following outlines the other trails that are located within Douglas County, Colorado:
- American Discovery
- Bluffs Regional Colorado
- Devils Head National Recreation
- Highline Canal National Recreation
- Platte River Greenway National Recreation
- Ridgeline Open Space
In addition to the above, there is the Rueter-Hess Reservoir. When this is completely full, there are many activities that may be pursued. These include water activities – such as fishing and boating – and land activities such as hiking. When filled, this is the largest body of water within the county. There are a couple of ranches in the area, too. These include the Cherokee Ranch and Castle and the Prairie Canyon Ranch. This offers many venues for adventure for those that live in and around the region.
As previously mentioned, the population consisted of 375,988 individuals in July of 2022. In terms of housing, there are a total of 144,387. Owner-occupied homes make up 78% of the total homes. The median value of the homes in the area comes in at $635,100. The average price of a mortgage is $2,708. The median rent price is $1,953. There are 131,971 households, in total. There are just under 3 people per household. The ages of the population of the county include the following:
- Under the age of 5 – 5.3%
- Under the age of 18 – 23.1%
- Over the age of 65 – 14.0%
If you have an interest of going into real estate as an investment, you must consider the general demographics of those in and around the area. In the case of Douglas County, most of the residents are between the ages of 18 and 64. In addition to this, most of those in the area own their home and do not rent. This means that you will want to focus on activities such as flipping homes and purchasing tax certificates on homes. Ultimately, the goal should be on selling those homes that you invest in. That will provide you with the largest return on your investment. It is important to understand, though, that the rental sector may also result in a high return on your investment. It just depends on which types of rentals are most popular in and around Douglas County, Colorado.
There is a small amount of the population that is interested in renting. These individuals rent because they are young or older. Many young people are not into settling down too early. Older individuals are interested in renting because someone else will be responsible for the maintenance of the rental. In this instance, you will want to have units available. Most age groups want to be grouped with others their age. This means that you will experience the highest return on your investment into age-related rentals. For example, you may legally designate a rental complex as “55 and Older” without being accused of discriminating based on age.
When determining whether to flip, sell, or rent, you should also consider income and poverty demographics. In Douglas County, the median income among all households is a total of $139,010.00. The per capita level of income is $63,186.00. The total amount of individuals that are living in poverty include 2.9%. In this case, you may offer homes and rentals for the median price average in the area and below. You must also consider the types of jobs people hold so that you may attract those fields that hire the largest number of people:
- The accommodation and food service industry accounts for nearly 743,000 jobs in the county
- Health care and social service jobs total nearly 2.3 million
- Transportation and warehouse jobs include nearly 141,000
- Retail sales jobs average 6 million
In short, this would tell you that you should focus on those that work in retail and those that specialize in health care and social services. Most in retail will likely rent because of the fact that the job market is highly competitive. The exception involves those that work in the manager positions. Those in health care and social services will likely take an interest in higher-price rentals, gated communities, and neighborhoods.
In addition to focusing on the demographics of the area, it is also important to consider the basic geography of the area. This is true if you are a real estate investor or if you simply want to rent in the area. In 2020, for example, the total population in each square mile was 426 people. The total land area of the county is 840.25 square miles. If you elect to construct – in terms of real estate – you may want to focus on areas that are a bit more spacey so that there are less people per square mile; however, it is also beneficial to consider multi-housing models for highly populated areas.
Expert Service You Can Trust
Property Management Services in Douglas County, Colorado
For over a decade, Pioneer Property Management has offered its expert property management services in Douglas County Colorado.
With a unique style of management that focuses on a proactive, rather than reactive approach, Pioneer has guided thousands of satisfied clients to well-maintained and cash-flowing investment properties.
Through the implementation of streamlined policies and procedures, efficient systems and software, and calculated execution, we identify issues BEFORE they become problems, maximizing your revenue, minimizing your headaches, and allowing us to maintain your property as an investment, indefinitely.