Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Englewood | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $449,570 | $480,058 | $242,182 |
| Price Trend (Annual %) | 16.1% | 11.8% | 8.2% |
| Median Gross Rent | $1,547 | $1,692 | $1,342 |
| Rent Trend (Annual %) | 6.9% | 7.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Englewood is about 6% lower than in Colorado. Rent is about 9% lower than the Colorado average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Englewood, up about 16.1% and 6.9% a year respectively. Home prices are changing faster.
Median rent in Englewood rose about 67.6% between 2015 and 2023, from $923 to $1,547. Over the same span, rent in Colorado rose about 68.8%.
Affordability
On average, housing unit costs 5.5 yearly household incomes in Englewood.
Buying the median-priced home in Englewood costs roughly 24.2 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 Englewood. The price-to-rent ratio in Colorado is about 23.6.
| Metric | Englewood | Colorado Avg | US Average |
|---|---|---|---|
| Median Home Price | $449,570 | $480,058 | $242,182 |
| Median Household Income | $81,052 | $93,055 | $78,145 |
| Price-to-Income Ratio | 5.5 | 5.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Englewood rose about 89.8%, while median household income rose about 90.6% between 2009 and 2023 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Englewood | Colorado Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 43.4% | 60.6% | 58.2% |
| Rental Rate | 50.5% | 30.8% | 31.3% |
| Vacancy Rate | 6.1% | 8.6% | 10.6% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Englewood has a homeownership rate of 43.4%, lower than the Colorado average of 60.6%. Its housing vacancy rate is 6.1%, compared with 8.6% in Colorado.
Housing Stock
| Metric | Englewood | Colorado Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.07 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1969 | 1984 | 1978 |
| Median Number of Rooms | 4.6 | 5.7 | 5.5 |
The typical housing unit in Englewood was built around 1969. On average, 2.1 people live in a home with about 4.6 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Englewood, Colorado.
What is the median home price in Englewood, Colorado?
The median home price in Englewood, Colorado is $449,570, lower than the Colorado average of $480,058.
What is the average home price in Englewood, Colorado?
The typical home price in %s, reported as the median sale price, is %s. 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 Englewood, Colorado?
The median gross rent in Englewood, Colorado is $1,547 per month, lower than the Colorado average of $1,692.
What was the median gross rent in Englewood in 2020?
In 2020, the median gross rent in Englewood, Colorado was $1,208 per month.
What is the price-to-rent ratio in Englewood, Colorado?
The price-to-rent ratio in Englewood, Colorado is about 24.2, meaning it would take roughly 24.2 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 Englewood.
Are home prices or rent rising faster in Englewood, Colorado?
Both home prices and rent are rising in Englewood, up about 16.1% and 6.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Englewood, Colorado?
43.4% of households in Englewood, Colorado own their home, lower than the Colorado average of 60.6%.
What is the vacancy rate in Englewood, Colorado?
The housing vacancy rate in Englewood, Colorado is 6.1%, lower than the Colorado average of 8.6%.