Centennial, Colorado Housing Market Prices
Updated
Centennial Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 14% above the Colorado median$552,059
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Median rent 23% above the Colorado median$2,165
Housing Market Overview
| Metric | Centennial | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $552,059 | $484,034 | $248,835 |
| Price Trend (Annual %) | 13.2% | 10.4% | 7.5% |
| Median Gross Rent | $2,165 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 5.3% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Centennial is about 14% higher than in Colorado. Rent is about 23% higher than the Colorado average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Centennial, up about 13.2% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Centennial rose about 56.4% between 2015 and 2024, from $1,384 to $2,165. Over the same span, rent in Colorado rose about 75.6%.
Affordability
On average, housing unit costs 4.2 yearly household incomes in Centennial.
Buying the median-priced home in Centennial costs roughly 21.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Centennial. The price-to-rent ratio in Colorado is about 22.9.
| Metric | Centennial | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $552,059 | $484,034 | $248,835 |
| Median Household Income | $132,160 | $95,803 | $80,455 |
| Price-to-Income Ratio | 4.2 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Centennial rose about 128.5%, while median household income rose about 43.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Centennial | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 76.7% | 60.7% | 58.5% |
| Rental Rate | 20.6% | 31.0% | 31.2% |
| Vacancy Rate | 2.8% | 8.3% | 10.2% |
| Median Tenure (years) | 15.0 | 13.0 | 15.0 |
| Median Year Moved In | 2011 | 2013 | 2011 |
Centennial has a homeownership rate of 76.7%, higher than the Colorado average of 60.7%. Its housing vacancy rate is 2.8%, compared with 8.3% in Colorado.
Housing Stock
| Metric | Centennial | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1985 | 1985 | 1978 |
| Median Number of Rooms | 7.3 | 5.7 | 5.5 |
The typical housing unit in Centennial was built around 1985. On average, 2.5 people live in a home with about 7.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Centennial, Colorado.
What is the median home price in Centennial, Colorado?
The median home price in Centennial, Colorado is $552,059, higher than the Colorado average of $484,034.
What is the average home price in Centennial, Colorado?
The typical home price in Centennial, Colorado, reported as the median sale price, is $552,059. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Centennial, Colorado?
The median gross rent in Centennial, Colorado is $2,165 per month, higher than the Colorado average of $1,761.
What was the median gross rent in Centennial in 2020?
In 2020, the median gross rent in Centennial, Colorado was $1,718 per month.
What is the price-to-rent ratio in Centennial, Colorado?
The price-to-rent ratio in Centennial, Colorado is about 21.2, meaning it would take roughly 21.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Centennial.
Are home prices or rent rising faster in Centennial, Colorado?
Both home prices and rent are rising in Centennial, up about 13.2% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Centennial, Colorado?
76.7% of households in Centennial, Colorado own their home, higher than the Colorado average of 60.7%.
What is the vacancy rate in Centennial, Colorado?
The housing vacancy rate in Centennial, Colorado is 2.8%, lower than the Colorado average of 8.3%.
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