This Northern Colorado Town Is the Most Affordable Denver Suburb

Living in the Mile High City isn't cheap. In fact, Denver has been listed as the 10th most expensive city for renters in the U.S.

New research from Point2 says that when it comes to homebuyers, Denver is the 13th most expensive place in the country — the median home price is $571,250 or $355 per square foot.

Because of this, many residents are choosing to save money in the suburbs. Thankfully, Point2 puts Denver in ninth place for cities with the highest shares of affordable suburbs (it's at 80%).

So, what is the most affordable Denver suburb? The website awards that title to the Northern Colorado town of Firestone.

Firestone is about 30 miles north of Denver, and the town's website hails its various open spaces, numerous outdoor recreation opportunities, and low-crime culture. It's also home to the famous St. Vrain Christmas Walk.

According to Point2, the price of a home per square foot in Firestone is 43% less than in Denver, making it an ideal choice for those looking to be close to Colorado's capital without breaking the bank.

The website notes that Castle Rock, Commerce City, and Parker are the next most affordable picks, with median home prices at 42% per square foot.

RELATED: Denver Suburb Named One of the Best Places to Live in the U.S. 

On the other hand, living in the suburbs instead of Denver isn't always the cheapest choice.

KDVR reports that Cherry Hills Village, West Pleasant View, Superior, Lafayette, Louisville, Greenwood Village, Glendale, Edgewater, and Golden all have a higher cost of living than the Mile High City.

See more affordable (and some of the most expensive) places to live in Colorado in the galleries below.