El Paso County a Top 10 Fastest Growing Opportunity Zone

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For investors looking to make a positive impact in economically distressed communities, Millionacres, a real estate investing educating resource, today released a report on “The Top 10 Fastest Growing Opportunity Zones” in the United States. El Paso County, Colorado made the Top 10 list.

Millionacres analyzed 7,681 designated opportunity zones from the U.S. Treasury Department Community’s Development Financial Institutions Fund (CDFI); population and household income data at the Census tract level from the 2010-2014 and 2014-2018 American Community Survey (ACS) five-year estimates; and the COVID-19 employment impact ranking from REIS Real Estate Solutions by Moody’s Analytics.

Census Tract 40.08: El Paso County, Colorado

Population Growth: 113%

Household Income Growth: 75%

COVID-19 Employment Impact: Low

The Colorado Springs metro area recently ranked third for the hottest rental investment markets in 2020, according to a recent Millionacres study. The metro outranked the booming cities of Boulder and Denver, primarily because of the low cost of living coupled with stellar employment growth.

Although there are opportunity zones closer in to the core of Colorado Springs, many of them appear to have plateaued when it comes to population and income growth. Not so with Census tract 40.08. Household income has more than doubled in the past five years, and at $71,000, it’s now 10 percent higher than the median in El Paso County proper.

The full report, including the complete methodology and further information on each of the opportunity zones, is available in the Millionacres Research Center.

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