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Affordable Housing Markets? Don’t Look to Denver

Many people are looking for housing markets that are affordable as they shop for a new home, and as the current market data shows, Denver is not the place where you will likely find a home that fits a budget. In fact, a recent list by Trulia.com listed the top ten affordable markets—Denver was not included. In fact, five of the ten markets were located in Ohio. However, there was also a list documenting the ten least affordable markets, a list which also skipped the inclusion of Denver.

So what gives? If you’re thinking about moving to Denver, there are some things to know and to consider. The city, located a mile above sea level, has a median household income of $61,453. This means that technically, 55 percent of homes are within the financial reach of the middle class—however, it varies based on the availability of these homes. Denver has a growing luxury real estate market, as well as a few apartment complexes that will cater to a variety of incomes and help the financial spread of Denver real estate.

For now, however, a wide portion of the local market is reserved for high end single family residences. As of recent data charting the market data for Denver, the median sales price is just over $400k.  

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