Newcomers are excited to discover the variety of home styles and the diverse neighborhoods in the metro Denver area. Encompassing seven counties across approximately 4,500 square miles, the metro Denver area is home to a distinctive mix of cities, towns and unincorporated communities.
Housing options within the metro area range from urban lofts and downtown high-rise buildings to horse properties and rural acreage. Neighborhoods are available to suit any lifestyle.
Planned communities are emerging in areas recently available for housing construction, such as Riverfront Park in Denver's newest Central Park neighborhood and the redevelopment of the former Stapleton International Airport area.
Co-housing options, town centers and lifestyle communities are key elements in the redevelopment of the original Elitch Gardens and the former Lowry Air Force Base sites. Revitalization in the Cherry Creek, Hilltop, Highlands and Washington Park neighborhoods adds eclectic and innovative new housing as older homes are refurbished or razed, making way for new designs.
Metro Denver's cost of living is lower than most major cities and ranks near the national average compared with more than 300 urban areas included in the fourth quarter 2005 ACCRA Cost of Living Index. The metro area's index of 100.6 for all items means that price levels for consumer goods and services are just above the national average of 100.
The metro Denver area offers a robust housing market, with good levels of appreciation. An excellent mix of both executive and entry-level housing exists throughout the metro area. The region offers some of the best housing values of any major metropolitan area.
New and Resale Homes
Broad spectrums of new housing options are available in metro Denver, ranging from executive housing to entry-level homes. Housing costs have stabilized in recent years in metro Denver. Some of the best housing values of any major metropolitan area are offered in metro Denver.
The metro Denver median sales price of single-family homes was $289,000 in 2010, according to Metrolist.
Many communities, employers and organizations in metro Denver provide programs ranging from down payment assistance to community advocacy programs to increase the availability of affordably priced homes. For example, a coalition of metro Denver housing organizations announced the formation of the Home Ownership Transformation (HOT) Initiative. The HOT Initiative will provide counseling and access to low down-payment mortgages.
Your next home can be more than just a great place to live; it can be an outstanding investment as well. Homes generally increase steadily in value and can provide substantial return over time. Unique tax benefits also apply. Both mortgage interest and property taxes remain deductible.
Leveraging is another benefit. A buyer can purchase a home with a cash down payment that is only a small fraction-as little as 10 percent or less-of the total purchase price. However, the return is based on the total value of the property. This is called leveraging an investment.
I return I