New Castle, Colorado
Located on the Western Slope of Colorado, just 10 miles west of Glenwood Springs, lies the rapidly growing town of New Castle. Surrounded by 7,000 acres of BLM land and 20,000 acres of White River National Forest, New Castle sits at 5,500 ft. above sea level. The Colorado River flows through New Castle, providing wonderful fishing and rafting opportunities.
In the 2,000 census, New Castle was identified as Colorado’s 7th fastest growing community. Since that census, New Castle has grown by more than 35%. This growth has been centered in the Castle Valley subdivision and more recently in Lakota Canyon Ranch, home of the new Jim Engh golf course that was ranked one of the top ten new public courses in the nation in 2004.
Families rave about New Castle’s schools, and with the opening of the brand new Coal Ridge High School in the fall of 2005, their reputation has only improved.
Annual events such as the Hog Back Hustle 5k race and the Burning Mountain Festival, add to the character of this fast growing community.
Part of New Castle’s rapid and continued growth can be attributed to the gradual down valley migration from the outrageous prices of Aspen. Despite being only 10 miles from Glenwood Springs, home prices continue to be significantly lower. Town Homes can be found for a little over $280,000 and single family homes start at around $330,000, around $50,000 less than comparable homes in Glenwood Springs. In the desirable golf course community of Lakota Canyon, single family homes start at around $500,000 and the pace of construction here is impressive.
The popularity of New Castle and the availability of buildable lots has led to a significant increase in inventory with a commensurate downward push on prices. For home buyers and investors, this is a great time to get into the New Castle market before inventory begins to diminish and prices start to rise again.
New Castle Chamber of Commerce
Town of New Castle
Why New Castle is my top pick for Investors
General
Located on I-70 between Denver and Grand Junction, New Castle has experienced very strong growth as prices in the Resort Communities of Aspen and Vail have soared out of reach of most people.
Real Estate
Just 10 minutes from Glenwood Springs, but with prices still considerably lower, the rapid rate of speculative construction has led to an over-supply and prices have fallen as much as 10% (july 08). As this oversupply is gradually worked through, it seems likely that prices will once again start to rise.
As of July 2008:
3 bedroom apartments can be found for around $250,000
3 bedroom townhomes can be found for around $300,000
3 bedroom single family homes can be found starting at $330,000
New Castle’s rental market is very tight, especially since the primary apartment complex has been condominiumized and is being sold off. 2 bedrooms start at around $1,400 and 3 bedrooms at around $1,600.
Demographics
According to the 2003 Census, New Castle has 2,675 residents , growing by 35% from the 2000 census.
The average household income in New Castle is over $70,000.
Economic Growth
The new “Meadows” project in West Glenwood Springs brought a 405,000 square foot shopping center anchored by Lowes and Target.
There are a total of 827 units approved for development at New Castle’s new golf course, Lakota Canyon Ranch
Growth Studies
Healthy Mountain Communities Study
The study predicts Aspen and Snowmass Village will remain the valley's economic engines and will double the number of jobs available in Pitkin County over the next 20 years. Population growth in Pitkin county will not come close to matching the job growth, leading to an increasing number of workers commuting from bedroom towns such as New Castle.
In this region, that means Garfield County's population will swell from about 44,000 in 2000 to nearly 87,000 in 2025, according to the study, citing data from the state demographer's office
Studies using information from Colorado’s State demographer, and the 2000 census suggest that the population in Garfield County could double by 2030. Traffic flow studies show more and more people living in different towns from where they work
Quality of Life
Recreation
The newly opened Lakota Canyon Ranch Golf Course in New Castle has been ranked as one of the top ten new public courses in the Country and is open 9 months of the year.
Hundreds of thousands of acres of national forest and BLM land surround New Castle. The World famous ski resorts of Aspen / Snowmass and Vail are both about an hour from New Castle.
The world’s largest natural Hot Springs in nearby Glenwood Springs is one of the most popular tourist attractions in Colorado and the opening of the Glenwood Caverns and Adventure Park has provided another top draw for tourists.
The world famous ski resorts of both Vail and Aspen / Snowmass are within one hour of New Castle.
Education
The public schools in New Castle are very highly rated by the residents and have received high performance marks from the State Department of Education. This fall sees the opening of the brand new Coal Ridge High School serving New Castle and Silt.
Health
Glenwood Springs Valley View Hospital was ranked one of the nation’s top 100 in 2004 and is just completing a 160,000 square foot addition.
- NUMBER1EXPERT™ 
