Home values are increasing steadily in Denver’s hot market, and it’s a well sought after place to live. See how investing in Denver real estate can boost your business to new heights.
According to studies, Denver is not only one of the most aesthetically-pleasing and highly diverse cities in the State of Colorado, but it is also the largest.
Currently, it is the home to over a total of 700,000 people and consistently growing.
The metropolitan region serves as a home to nearly 3 million and the Aurora region is home to approximately 3.5 million. While there currently seems to be an endless array of people living within the city and its surrounding areas, high levels of continual growth are expected, according to real estate investors.
The Forecast Indicates Optimal “Weather” for Real Estate Investors
Zillow has recently dubbed Denver a “hot” market for real estate investors. Currently, the median value of homes in the area are nearly $415,000 – EACH!
Just in one year’s time, the values of the homes in the area have increased nearly 7%. In the next year, another 6% increase is expected.
Based on this prediction alone, real estate investors can expect excellent “weather” – in terms of real estate investments – when opting for homes in Denver. You can expect square footage prices in the range of $265 to $425.
In terms of rentals, the median rental values average between $2,050 and $2,100 – a MONTH!
2018 Trends Highly Revealing on What is to Come in 2019
Trulia has indicated that there was a 6% increase in sales for homes in Denver. That totals to an additional $22,500 per home sold.
In the past year, rent has not seen significant increases, but that is expected to change with the upcoming new year.
Right now, there are approximately 4,000+ homes available for sale for real estate investors. The average cost – per square foot – is $469.
The current average rent cost is $2,200 per month. The average household income is just under $50,000.
There is a total of 58% homeowners in the area and 42% are renters.
Currently, single-family homes that are detached are the most common form of housing in the City of Denver. In fact, they account for just over 46% within the city. Large complexes account for almost 40%, row homes or other types of homes that are attached account for nearly 8% of all home. Small apartments account for nearly 6% of all homes in and/or around the City of Denver.
The appreciation rates of the area rank at 8.50%. This is higher than almost 90% of all other areas within the country.
For real estate investors that are seeking short-term investments, this area is highly rated, based on the 2018 facts and figures in terms of real estate.
Most Expensive Areas
If you are a real estate investor looking to turn a quick buck, it is important to consider the most expensive neighborhoods in Denver. The following outlines the top five areas where you should seek to place your time and money:
- East Bayaud Ave and Leetsdale Dr
- East Evans Ave and South Colorado Blvd
- South University Blvd and East Exposition Ave
- Montview Blvd and Glencoe St
- Wewatta St and 15th St
Top Reasons Why You Should Invest in Real Estate in Denver
- According to the U.S News and World Report, Denver is considered to be the third, in terms of “Best Places to Live” throughout the entire country.
- The overall unemployment rate in the entire city is just under 3%. As a result of the immense amount of jobs, the city attracts people from all over. This is especially beneficial for real estate investors that have a desire to purchase property and then sublet it.
- Denver is in the immediate vicinity of the Rocky Mountains. Additionally, it is home to a world-renowned zoo, beautiful botanic gardens, and a vast array of other attractions. As a result, it has a very strong tourism market that attracts millions of visitors each year.
- Many college students flock to the area in order to receive their education. There are thousands of students that elect to rent out properties. Later, many of these same students elect to purchase their own home because of the opportunities in the area.
- The average age in the Denver area is approximately 36; however, many older adults elect to retire in and around the city. This gives you the opportunity to rent to or sell to seniors that are financially stable and are willing to pay higher prices for the convenience that living near such a large city offers.
If you are ready to take part in the Denver real estate market, we can help. Simply click the following link to learn more: https://rentmedenver.com/