Denver, CO Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Denver, CO Housing Market Trends

With 727,211 people, 301,501 houses or apartments, and a median cost of homes of $471,630, real estate costs in Denver are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Colorado communities.

Single-family detached homes are the single most common housing type in Denver, accounting for 44.58% of the city's housing units. Other types of housing that are prevalent in Denver include large apartment complexes or high rise apartments ( 41.56%), row houses and other attached homes ( 7.93%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.58%).

People in Denver primarily live in small (one, two or no bedroom) single-family detached homes. Denver has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Denver's housing was primarily built during this period, from the '40s through the '60s. A full 32.50% of the city's housing hails from this era. Other housing ages represented in Denver include homes built between 1970-1999 ( 28.26%) and housing constructed between 2000 and later ( 20.36%). There's also some housing in Denver built before 1939 ( 18.88%).

Denver Home Appreciation Rates

In the last 10 years, Denver has experienced some of the highest home appreciation rates of any community in the nation. Denver real estate appreciated 116.45% over the last ten years, which is an average annual home appreciation rate of 8.03%, putting Denver in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Denver definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Denver's appreciation rate, at 5.81%, has been at or slightly above the national average. In the latest quarter, Denver's appreciation rate has been 1.69%, which annualizes to a rate of 6.94%.

Relative to Colorado, our data show that Denver's latest annual appreciation rate is lower than 60% of the other cities and towns in Colorado.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Denver differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Denver - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Denver real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$471,630

Denver, CO HOME PRICES

> $1,231,000
4.4%
4.4%
$923,001 - $1,231,000
6.2%
6.2%
$615,001 - $923,000
18.3%
18.3%
$493,001 - $615,000
14.9%
14.9%
$369,001 - $493,000
20.0%
20.0%
$246,001 - $369,000
21.7%
21.7%
$123,001 - $246,000
11.3%
11.3%
$62,001 - $123,000
1.8%
1.8%
$0 - $62,000
1.4%
1.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for CO

Value Relative To Nation

Number Of Homes And Apartments:
301,501

Denver Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
144.08% 4.29%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,790 / per month

Homeownership Rate

Owners
48.8%
48.8%
Renters
51.2%
51.2%
Vacant
6.3%
6.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
20.4%
20.4%
1970 - 1999
28.3%
28.3%
1940 - 1969
32.5%
32.5%
1939 or Older
18.9%
18.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
44.6%
44.6%
Townhomes
7.9%
7.9%
Small Apt. Buildings
5.6%
5.6%
Apt. Complexes
41.6%
41.6%
Mobile Homes
0.3%
0.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.5%
5.5%
1 Bedroom
23.1%
23.1%
2 Bedrooms
31.2%
31.2%
3 Bedrooms
22.8%
22.8%
4 Bedrooms
12.7%
12.7%
5 or more bedrooms
4.7%
4.7%
0.0% 100.0%
% OF HOMES