You’ve heard great things about the upscale and affordable retirement communities in Colorado. So, now, you’re considering retiring there.
It would seem like a dream to spend your retirement looking at Colorado’s gorgeous landscapes.
However, investing in the Colorado housing market requires research. Statistics show that a house in Colorado costs almost 100% more than the National Average, so you might even need to adjust your estimated retirement fund.
Don’t worry if it’s your first time looking for a Colorado senior community. This guide will give you a good starting point.
We scoured the web for first-hand insights into the most widely trusted affordable and luxury retirement communities in Colorado. That way, you can assess which options suit your lifestyle and budget best.
Stick with us until the end. Otherwise, you might spend years researching senior communities only to end up in one that doesn’t meet your expectations.
Let’s look at the best retirement communities in Colorado!
The Best 55+ Communities in Colorado for Retirees
Finding the best over 50 community to retire in takes time. With dozens of options in Colorado, you might spend years touring the 55 and older communities in Colorado Springs alone.
Fortunately, we can help narrow down your options. Some of the most widely known and trusted Colorado retirement communities include:
1. Hilltop at Inspiration 55+
Hilltop at Inspiration ranks among the most modern 55 plus communities in Denver, CO. Construction only started in 2015. As such, expect most of its amenities, units, and residential establishments to be brand-new.
Cost of Living
The community features 1,800+ senior-friendly homes, most of which have no occupants yet.
The cheapest unit they have costs $400,000. However, their premium units with exclusive access to specific amenities could drive up to $1 million.
Amenities and Activities
Hilltop at Inspiration residents have access to the following amenities:
- Sparkling pool
- Yoga studio
- Fitness center
- Demonstration kitchen
- Pickleball court
- Tennis court
- Bocce ball court
Requirements to Move In
Hilltop at Inspiration 55+ is a gated community exclusive to adults over 55 years old. They also offer unrestricted housing options, although these units sit in different neighborhoods.
Their staff is pretty welcoming. Reach out to them online to book a personalized tour and wait for a confirmation email or call.
2. Windsor Gardens
If you want to live near the heart of Denver city, look into Windsor Gardens. It is the only senior-focused active community you’ll see within downtown Denver.
Cost of Living
Despite the Windsor Gardens’ prime location, it features some of the lowest-priced units in the state. The community features 2,600+ homes ranging from $100,000 to $300,000.
Amenities and Activities
Windsor Gardens residents have access to the following amenities:
- Auditorium
- Community center houses
- Craft
- Demonstration classrooms
- Game room
- Library
- Theater stage
Requirements to Move In
The Windsor Gardens community typically caters to middle-class retirees. Your family can visit now and then, but they can’t stay more than a few nights, or else you’ll get sanctioned.
Contact them for available units. They currently cater to 3,500 senior residents, so expect tight competition for homeownership.
3. Highland Trail
The Highland Trail features affordable senior-friendly apartments within a gated community.
Apart from the establishment’s in-house amenities, residents also get to enjoy the nearby hiking trails, mountain ranges, and scenic views.
Cost of Living
Highland Trail showcases 800+ apartment units, and the monthly costs range from $3,000 to $5,000 per month.
Amenities and Activities
Highland Trail residents have access to the following amenities:
- Activity room
- Barber and beauty salon
- Billiard lounge
- Bistro area
- Chapel
- Community fireplace
- Fitness equipment
- Garden
- Laundry facilities
- Library
- Lounge area
- Parking
- Patio area
- Patio dining
- TV lounge
Requirements to Move In
The Highland tail typically caters to middle-class earners who wish to live independently. You can book a private tour through their website or by calling (303) 247-0542.
4. Heritage at Eagle Bend Golf Club
Any Colorado golf enthusiast knows about the Heritage at Eagle Bend Golf Club.
The community prides itself on its exclusive18-Hole Heritage Eagle Bend Golf Course, which is only available to residents.
Cost of Living
The community offers hundreds of detached single-family homes, ranging from $500,000 to $700,000. However, premium units could set you back by upward of $1,000,000.
Amenities and Activities
Heritage at Eagle Bend Golf Club residents have access to the following amenities:
- 18-hole heritage eagle bend golf course
- 4 bocce ball courts
- 4 outdoor tennis courts
- Arts and crafts studio
- Ballroom
- Billiards room
- Card room
- Ceramics studio
- Clubhouse
- Computer and business center
- Eagle’s nest restaurant
- Fitness center
- Golf pro shop
- Indoor lap pool
- Library
- Outdoor resort-style pool
- Spa
- Walking and biking trails
Requirements to Move In
The community only accepts 55+ residents. You can book a tour through their website or by calling the welcome desk at (303) 693-7788.
5. Water Valley
If you wish to spend your retirement years lounging by the beach with your loved ones, check out Water Valley.
The community offers thousands of housing options. Whether you want a small condo unit or a sizeable single-family home, you’ll find what you need.
Cost of Living
Water Valley units range from $200,000 to $1,000,000. However, expect most patio units and single-detached houses to cost around $500,000.
Amenities and Activities
Water Valley residents have access to the following amenities:
- Bars and pubs
- Beach or beach clubs
- Boat or kayak launch sites
- Clubhouse
- Fishing lakes
- Fitness center
- Golf course
- Hiking and biking trails
- Outdoor and indoor pools
- Restaurants
- Salons
- Spas or saunas
Requirements to Move In
Water Valley targets seniors, but they don’t limit ownership to any specific age group.
Any household with a 55+ adult can move in, making it the perfect community for retirees who wish to spend more time with their families.
For bookings, contact them through their website, send an email to [email protected], or (970) 686-5828.
What Kind of Housing Do You Need?
Don’t worry if you still can’t choose between the communities we mentioned above.
You can further narrow down your options by checking the state’s most common retirement housing types. See which ones suit your and your partner’s potential needs.
Active Adult
Active Adult communities typically consist of quaint living spaces owned by independent-living older adults. Residents typically share amenities (i.e., clubhouse, pool, gym).
What makes Active Adult communities appealing is that they consist of small, low-maintenance housing options. You wouldn’t need to do much apart from basic cleaning and housekeeping.
Apartments
Senior-focused apartment complex landlords limit their tenants to older adults, generally 55 and up. Your grandkids and kids can visit you, but you’ll be spending most of your time with like-minded peers from the same age groups.
If you want to save money, consider renting instead of buying. You can’t pass down these apartment units to beneficiaries under 55, so they wouldn’t make lucrative investments.
Stick-Built Homes
Retirees looking for ways to minimize tax liabilities can invest in appreciating real assets. For instance, your beneficiaries can utilize the stepped-up tax basis and avoid capital gains taxes if you pass down your real estate properties instead of cash.
Manufactured Homes
Manufactured home communities give frugal seniors a safe, holistic place to retire in without overspending.
No, they don’t appreciate in value like stick-built homes. However, they cost exponentially less and require minimal outdoor living space maintenance, especially if you live in a mobile home park.
Independent Living
Healthy older adults who don’t want to change their current setup can opt to live independently. Just stay in your current residence. You don’t necessarily have to relocate to a new, unfamiliar location after retirement.
However, we strongly suggest looking into caregivers. Relying on someone for assistance during medical emergencies and accidents could spell the difference between life and death.
Assisted Living
There’s a negative stigma revolving around assisted living communities. Most people fear that they only consist of older adults abandoned by their children.
On the contrary, assisted living communities help maintain an elevated quality of life. Most options offer 24/7/365 monitoring, daily assistance, freshly cooked meals, and senior-focused activities.
Reasons to Retire in Colorado
Are you still on the fence about retiring in Colorado? Check out some of the reasons why retirees across the country are flocking to the famed Centennial State.
Beautiful Landscape
Colorado features some of the most breathtaking national parks, hiking trails, and mountain ranges in the country. You can visit them regularly if you live nearby.
Accessible Healthcare
As much as possible, retirees should move to communities with multiple healthcare facilities.
Statistics show that 89% of older adults over 65 already take maintenance medication, so you’ll likely need regular checkups as you age.
Fortunately, Colorado excels in the healthcare industry. The state currently has 199 hospitals, 30 of which are government-owned institutions with affordable treatment options.
Retirement Tax Breaks
Yes, houses in Colorado are pricier than the national average. However, local retirees who have owned their primary residence for the past decade can qualify for a 50% property tax break. The exemption maxes at $100,000.
If you plan on moving to Colorado, you might not qualify for the property tax break. However, you can apply for income tax breaks.
The state lets retirees subtract up to $24,000 from their retirement taxes.
Depending on your age and income bracket, this tax break could help you achieve state-tax-free Social Security and pension benefits.
Nice Climate for Outdoor Activities
The mountainous regions of Colorado have cold, dry winters and hot summers. You’ll still enjoy the state’s four seasons, but expect most months to feel chilly.
However, moving toward the inland gives you a moderately cool, dry, and invigorating climate ideal for outdoor activities.
You can go on picnics every weekend without worrying about bad weather.
Slow-Paced Rural Vibe
Although most tourists know Colorado for Denver and Colorado Springs, the state also has several peaceful, slow-paced rural areas. They’re perfect for escaping the hustle and bustle of big cities.
Frequent Air Shows
If you love air shows, you should definitely consider moving near Colorado.
The Colorado-based United States Air Force Academy (USAFA) regularly hosts an array of festivities, from school ceremonies to Sunday football matches.
Note: The local government recently lifted several Covid guidelines, so you can expect USAFA to host even more in-person events and gatherings.
Is Colorado a Good Place to Retire?
Considering the tax benefits, affordable healthcare plans, diverse financial earning opportunities, and gorgeous rural sceneries, everyone should at least consider retiring in Colorado.
However, don’t force yourself into upscale communities if you don’t feel comfortable dropping millions on housing. Again, the Colorado housing market costs relatively higher than the national average, so you’d do well to explore more affordable locations.
Also, go through the touring process carefully. Remember: you’re deciding where to spend the rest of your life. Choose a housing option that suits your current needs and your potential post-retirement demands.
Aidan has been writing about personal finance for over 6 years. Prior to this, he worked as a Corporate Finance Analyst where he specialized in Due Diligence, Company Valuations and more. He is a CFA charterholder.
