Source: Bill Hethcock and Denver Business Journal Staff of the Denver Business Journal
John Burns Real Estate Consulting has analyzed 130 metro areas in the United States for what percentage of their residents can afford an entry-level home in that metro. The report considered a home priced 20% lower than the median in that area as entry level and assumed a 5% down payment. It features an interactive infographic which allows you to compare Denver with other major metros across the country! Denver, with 50.2% of it’s residents able to afford a home in this range, is much more affordable than cities like San Francisco (11%), NYC (36%) and Boulder (40%), but less so than Boston (51%) and Chicago (59%) and several other metros.
Just how big is the barrier to entry to owning a home in Denver? Here are some numbers for the five most expensive zip codes in the city:
Cost of Entry in Denver's Most Expensive ZIP Codes
| ZIP Code | Denver Neighborhoods within ZIP Code | Median Home Value | Monthly Mortgage Payment | Minimum Salary Required |
|---|---|---|---|---|
| 80238 | Stapleton | $592,600 | $2,989 | $119,579 |
| 80210 | Platt Park Rosedale University | $603,900 | $3,046 | $121,860 |
| 80230 | Lowry | $626,300 | $3,159 | $126,380 |
| 80206 | Congress Park Cherry Creek | $664,800 | $3,354 | $134,148 |
| 80209 | Wash Park | $724,900 | $3,657 | $146,276 |
Looking for a neighborhood that’s more friendly to your pocketbook? Reach out to our team and we’d love to help you find your next place.
