Denver, Colorado Housing Market Prices
Updated
Denver 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 28% above the Colorado median$618,408
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Median rent 4% above the Colorado median$1,831
Housing Market Overview
| Metric | Denver | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $618,408 | $484,034 | $248,835 |
| Price Trend (Annual %) | 11.8% | 10.4% | 7.5% |
| Median Gross Rent | $1,831 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 7.4% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Denver is about 28% higher than in Colorado. Rent is about 4% 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 Denver, up about 11.8% and 7.4% a year respectively. Home prices are changing faster.
Median rent in Denver rose about 90.4% between 2015 and 2024, from $962 to $1,831. Over the same span, rent in Colorado rose about 75.6%.
Affordability
On average, housing unit costs 6.5 yearly household incomes in Denver.
Buying the median-priced home in Denver costs roughly 28.1 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 Denver. The price-to-rent ratio in Colorado is about 22.9.
| Metric | Denver | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $618,408 | $484,034 | $248,835 |
| Median Household Income | $94,979 | $95,803 | $80,455 |
| Price-to-Income Ratio | 6.5 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Denver rose about 148.8%, while median household income rose about 101.3% 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 | Denver | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.5% | 60.7% | 58.5% |
| Rental Rate | 47.8% | 31.0% | 31.2% |
| Vacancy Rate | 6.7% | 8.3% | 10.2% |
| Median Tenure (years) | 10.0 | 13.0 | 15.0 |
| Median Year Moved In | 2016 | 2013 | 2011 |
Denver has a homeownership rate of 45.5%, lower than the Colorado average of 60.7%. Its housing vacancy rate is 6.7%, compared with 8.3% in Colorado.
Housing Stock
| Metric | Denver | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.10 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1976 | 1985 | 1978 |
| Median Number of Rooms | 4.5 | 5.7 | 5.5 |
The typical housing unit in Denver was built around 1976. On average, 2.1 people live in a home with about 4.5 rooms, staying for about 10.0 years on average.
Denver, CO Housing Compared With Nearby Cities
How Denver, CO compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Denver, CO | 718,150 | $618,408 #1/2 | $1,831 #1/2 | 48.8% #2/2 |
| Commerce City, CO | 65,816 | $567,571 | $1,795 | 77.2% |
Frequently Asked Questions
Common questions about the housing market in Denver, Colorado.
What is the median home price in Denver, Colorado?
The median home price in Denver, Colorado is $618,408, higher than the Colorado average of $484,034.
What is the average home price in Denver, Colorado?
The typical home price in Denver, Colorado, reported as the median sale price, is $618,408. 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 Denver, Colorado?
The median gross rent in Denver, Colorado is $1,831 per month, higher than the Colorado average of $1,761.
What was the median gross rent in Denver in 2020?
In 2020, the median gross rent in Denver, Colorado was $1,396 per month.
What is the price-to-rent ratio in Denver, Colorado?
The price-to-rent ratio in Denver, Colorado is about 28.1, meaning it would take roughly 28.1 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 Denver.
Are home prices or rent rising faster in Denver, Colorado?
Both home prices and rent are rising in Denver, up about 11.8% and 7.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Denver, Colorado?
45.5% of households in Denver, Colorado own their home, lower than the Colorado average of 60.7%.
What is the vacancy rate in Denver, Colorado?
The housing vacancy rate in Denver, Colorado is 6.7%, lower than the Colorado average of 8.3%.
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