Colorado ranks among the most expensive states to live in, and Grand Junction is working to address a growing housing shortage as demand continues to rise.
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According to the Colorado Chamber of Commerce Scoreboard, Colorado ranks 47th for cost of living and 48th for housing affordability, making it one of the most expensive states to live in. The median house price is $540,183. The average cost of home insurance per year is $5,984. A housing shortage is also noted, as the state needs 104,837 houses.
This data is gathered from research the chamber conducts, as well as other media sources (US News, CNBC, etc.)
Loren Furman, the chamber’s president, said homeowners insurance is a factor for the ranking.
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