Is It Worth Buying a Home in Denver, CO?
The decision to rent or buy in Denver, Colorado depends on how long you plan to stay, your down payment, and current mortgage rates. With a median home price of $575,000 and median monthly rent of $2,250, the math plays out differently depending on your personal situation.
Denver has an average property tax rate of 0.57% annually, which adds approximately $273/month to the cost of homeownership on a median-priced home.
Historically, home values in Denver have appreciated at roughly 4.5% per year, which works in favor of buyers who plan to stay long-term. Use the calculator above to find your personal break-even point.
Key Factors for Denver Buyers
- Down payment of 20% on a median home = $115,000
- Monthly mortgage (30yr at 6.99%) ≈ $3,057/mo
- Property tax ≈ $273/mo
- Estimated maintenance ≈ $479/mo