Should You Buy or Rent in the Denver Area?

With both home prices and rental rates on the rise in Colorado, it's important to weigh your options.

Found 19 blog entries about Should You Buy or Rent in the Denver Area?.

American homeownership has been on the decline, and Federal Reserve researchers point to the high cost of college as one culprit.

According to Bloomberg, just 36 percent of household heads between 24 and 32 years old owned homes in 2014, down from 45 percent in 2005. At the same time, average student debt per capita rose to an inflation-adjusted $10,000 from $5,000 in 2005.

About 20 percent of the decline in homeownership among young adults can be attributed to that increase in student loan debt, the authors estimate, making such borrowing an important, but not central, driver of the decline. Some 400,000 more young people would have owned homes in 2014 if debt burdens hadn’t risen.

Why does this happen? It’s partly because higher student

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Rental rates in the Denver area reached their highest point ever in 2018.

An analysis of historical data shows that rent costs in the early 2010s, which qualified as modest by the standards of the day, skyrocketed mid-decade and remain at eye-popping levels.

An example: Median rent for a one-bedroom apartment eight years ago barely topped $800. Today, the most recent estimate from the Rent Jungle website is $1,432 — an increase of nearly 79 percent. And the latest price is actually lower than in June, when it peaked at $1,457.

The site's report about average rent trends in Denver includes median one-bedroom, two-bedroom and overall totals for every month beginning in January 2011. And following the numbers from then to November 2018

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In much of the United States, single women are outpacing single men when it comes to homeownership.

This trend may be somewhat surprising, given the average woman in the U.S. only makes 80% of what the average man does. Nonetheless, the data clearly indicates that single women are more likely to own a home than single men are.

For example, in the New York metropolitan area, single women own slightly more than 820,000 homes. In the Los Angeles metropolitan area, that number is around 460,000. On the flip side, single men own about 435,000 homes in the New York area and about 260,000 homes in the Los Angeles area. In both cases, single women owned nearly twice as many homes as single men did.

To determine the number of single homeowners in each

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Throughout the past year, rent increases have been occurring not just in the city of Denver, but across the entire metro.

The median price for a two-bedroom in apartment in Denver stands at $1,340 as of January 2019. That’s an 0.1 percent decrease over December but a 2.5 percent increase over the past year, according to the report.

Denver's year-over-year rent growth leads the state average of 2.2 percent, as well as the national average of 0.9 percent.

Of the 10 largest cities in the metro, nine of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.

  • Brighton has seen the fastest rent growth in the metro, with a year-over-year increase of 16.3%. The median two-bedroom there
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COLORADO has been DECLARED THE BEST STATE FOR SENIORS. Here are a couple tricks seniors who are looking to downsize in Denver. 

In 2017, U.S. News declared Colorado to be the best state for aging, citing the health of the over-65 population, the booming economy, the quality of care available in local nursing homes, senior living communities, and the active lifestyles that seniors lead.

Downsizing, which involves selling your larger home and moving into a setting that's better suited to your changing needs, is a great first step toward joining the multitude of seniors enjoying all that Denver has to offer. When considering your downsizing journey, keep these 4 tips in mind.

1. HEAD WEST… AND EAST AND NORTH AND SOUTH

The suburbs in the

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An acute shortage of affordable homes in the United States will continue over the coming year, according to a majority of property market analysts polled by Reuters, driving prices up faster than inflation and wage growth.

After losing over a third of their value a decade ago, which led to the financial crisis and a deep recession, U.S. house prices have regained those losses — led by a robust labor market that has fueled a pickup in economic activity and housing demand.

But supply has not been able to keep up with rising demand, making homeownership less affordable.

Annual average earnings growth has remained below 3 percent even as house price rises have averaged more than 5 percent over the last

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According to new findings, the ideal age for most Americans to buy their first home is 28. A recent Bankrate study touted this number as the sweet spot that those surveyed seemed to gravitate to.

Of course, not everyone agrees. A quarter of men surveyed believe the ideal time to buy a first home is prior to age 25, but only 12 percent of women concur.

And region matters, too: Nearly one in five (18 percent) of Northeasterners thinks the ideal age is over 35, twice as many as any other region. This makes sense, as the cost of living in the Northeast tends to be higher, on average.

Income also impacts mindset. With so many millennials stuck under the weight of massive student loans, buying a home by 28 may seem a bit unattainable. Fifty-two

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The National Low Income Housing Coalition’s 2018 Study found that the average Colorado resident needs to make at least $23.93 per hour to afford a two bedroom apartment, which is the 11th highest “housing wage” in the US.

The NLIHC 2018 report calculates the number of hours a minimum wage earning employee needs to work per week in order to afford a two bedroom apartment. The apartments were at Fair Market Rent which is annually determined by the federal government. Fair Market Rent estimates what it would cost to rent apartments in a particular area. This year's report reveals that affordable housing is still out of reach in Colorado and across the country. 

For residents of Denver- Aurora- Lakewood MSA they would need to earn $27.27 per hour,

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Property Markets Group, A nYC-based Developer has bought more land near Coors field. Their plan is to bring Co-living to Denver with X Denver, part of their X social communities concept which Fast Company Magazine once described as "upscale dorms for adults".  

Property Markets Group's most recent purchase was a half acre of land located at 3000 N. Inca St which, according to county records, cost the group $3.19 million. That means that they paid about $140.25 per square foot. Six months ago Property Markets purchased a 1.1 acre lot located at 3100 N Inca right next to their new lot. They purchased that lot for $6.87 million. They bought Denver's Westfield Co. the same company that sold them their new property.

X Denver, a 220 unit complex, is

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