Colorado Housing Market: Home Prices, Rent and Affordability
The typical Colorado home is worth $532,748, down 1.4% over the past year and up 6.8% over five years, 44.5% above the national $368,697 (latest release). That ranks #7 of 50 on price. A 20%-down mortgage runs $2,741 a month and takes about $138,758 of income; the median Colorado household earns $97,113, $41,645 short.
In Denver, the state's largest metro, typical rent is $1,922 a month against a $2,880 principal-and-interest payment on the typical home, so renting is $958 a month cheaper before taxes, insurance and maintenance. The market is cool: 32.3% of listings cut their price (national 26.4%), homes go pending in 55 days (national 53), and for-sale inventory is down 1.7% from a year ago.
All housing figures are the latest published numbers for August; median household income is from the Census Bureau.
Colorado Housing by the Numbers
How much does a house cost in Colorado? The typical home is worth $532,748, the median sale price is $557,667 and the median list price $566,600. The six figures below describe the market this month, each with the national comparison.
- Typical home
- $532,748
- #7 priciest · national $369K
- Mortgage payment
- $2,741/mo
- P&I, 20% down · national $1,897
- Income needed
- $139K
- median earns $97K (+43%)
- Rent, Denver
- $1,922/mo
- -0.6% in 1 yr · national $1,948
- Price cuts
- 32.3%
- of listings · national 26.4%
- Days to pending
- 55
- national 53 · 37,673 for sale (-1.7%)
How Have Colorado Home Prices Changed?
The typical Colorado home value every month since 2000, with the national typical home as a dashed line. Values fell 1.4% over the past year, are up 6.8% over five years, up 63.2% over ten, and up 199% since January 2000.
- Peak
- $573,583
- July 2022 · now -7.1%
- 10-year change
- +63.2%
- national +77.9%
- Median sale price
- $557,667
- list price $566,600
- Payment, 1-yr change
- -0.6%
- Rates and prices combined
Is It Cheaper to Rent or Buy in Colorado?
Two direct answers from the data. Rent versus buy sets typical asking rent in Denver, the state's largest metro, against the mortgage payment on the typical home there, since rent indexes are published by metro rather than by state. The affordability gap is the income needed to buy the typical Colorado home minus what the median household actually earns.
Rent vs. buy · Denver, CO
Renting is $958/month cheaper
The payment excludes property tax (0.49% of value in Colorado), insurance and maintenance, all of which push the cost of owning higher; renting builds no equity. If values kept rising at the past five years' pace (6.8%), equity would narrow that gap over a long stay.
Affordability gap · #40 of 50
The median household is $41,645 short of the income needed
A $2,741 monthly payment takes 33.9% of the median Colorado household's income before property tax and insurance; lenders generally cap total housing costs near 28–31%.
Full budget for your household →Is Colorado a Buyer's or a Seller's Market?
Market temperature is our label from three market signals compared with the national market: the share of listings with a price cut, days from listing to pending (days on market), and whether homes for sale are up from a year ago. Colorado is cool: it leans toward buyers: two of the three market signals point cooler than the national market.
Median sale price $557,667 against a median list price of $566,600, so the typical home closes 1.6% below asking.
Where the Colorado market is heading
Compared with a year ago, two of the three signals point tighter, in sellers' favor: the share of listings with a price cut is down 0.2 points from a year ago to 32.3%, homes take 1 day longer to go pending than a year ago (55 now), and the number of homes for sale is down 1.7%. The typical home value fell 1.4% over the same period and is 7.1% below its July 2022 peak of $573,583. We publish no forecasts: these are the current-month readings, not a prediction of where Colorado home prices go next.
Home Values and Rents in Colorado Cities
A city-level home value or rent is available for 20 of the Colorado cities we track. The most expensive is Boulder ($948,693) and the cheapest Pueblo ($282,535). Click a city for its full profile.
| City | Population | Home value | 1 yr | 5 yr | Rent | Rent 1 yr | Value ÷ income |
|---|---|---|---|---|---|---|---|
| Denver | 718,877 | $524,695 | -2.1% | ||||
| Colorado Springs | 487,887 | $441,553 | -1.5% | ||||
| Aurora | 394,432 | $452,698 | -2.8% | ||||
| Fort Collins | 170,229 | $560,192 | -0.2% | ||||
| Lakewood | 156,583 | $556,597 | -2.0% | ||||
| Thornton | 144,187 | $492,295 | -2.2% | ||||
| Arvada | 122,634 | $600,934 | -2.1% | ||||
| Westminster | 115,484 | $514,933 | -1.9% | ||||
| Pueblo | 111,561 | $282,535 | -2.5% | ||||
| Greeley | 110,806 | $415,216 | -1.2% | ||||
| Centennial | 108,201 | $632,941 | -1.3% | ||||
| Boulder | 106,433 | $948,693 | +0.9% | ||||
| Highlands Ranch | 102,257 | $694,234 | -1.8% | ||||
| Longmont | 99,406 | $544,848 | -1.6% | ||||
| Castle Rock | 79,123 | $660,519 | -1.2% | ||||
| Loveland | 78,410 | $496,109 | -0.8% | ||||
| Broomfield | 76,304 | $620,899 | -0.7% | ||||
| Grand Junction | 68,142 | $422,821 | +1.8% | ||||
| Commerce City | 66,445 | $480,050 | -3.3% | ||||
| Parker | 61,783 | $676,203 | -1.6% |
Home value and rent are city-level indexes; population and median household income are Census ACS. Cities without a published index are omitted.
All Colorado cities ranked →How Colorado Compares With Nearby States
The West states closest to Colorado on price. Each card links to that state's housing page; the compare link puts the two states side by side on every category.
More on Colorado
Colorado dashboard
Overall rank and grade, every category score, taxes, utilities, safety, schools and all tracked cities.
What you'd keep in Colorado
Take-home after housing, taxes, childcare, utilities and groceries for your household and income.
Who is moving to Colorado
IRS migration data: where new residents come from, where leavers go, and what both groups earn.
Colorado Housing Market FAQ
What is the average house price in Colorado?
$532,748 is the typical Colorado home value according to the latest release of the home value index, which tracks homes in the middle third of the market. The median sale price was $557,667 and the median list price $566,600. That makes Colorado the #7 most expensive state; the national typical home is worth $368,697.
Are home prices dropping in Colorado?
Yes. The typical Colorado home value fell 1.4% over the past year, and it is 7.1% below its July 2022 peak of $573,583. Over five years it is up 6.8% and over ten years up 63.2%. Nationally, values rose 1.2% over the year.
How have Colorado home prices changed over the past 1, 5 and 10 years?
-1.4% over one year, +6.8% over five years and +63.2% over ten years for the typical Colorado home value, per the latest release; the national figures are +1.2%, +20.3% and +77.9%. Since January 2000 the typical Colorado home is up 199%. The monthly chart above shows the full series against the national line.
Will the Colorado housing market crash?
We publish no forecasts, so this page cannot answer that; it can show the current readings and the historical worst case. Right now the typical Colorado home value is 7.1% below its July 2022 peak of $573,583 after it fell 1.4% over the past year; 32.3% of listings have cut their price (national 26.4%), homes go pending in 55 days (national 53), and inventory is down 1.7% from a year ago, per Zillow Research. The largest decline in the monthly value series for Colorado was 11.5% from August 2007 to November 2011, and values took 22 months to regain that peak.
Is it a good time to buy a house in Colorado?
The Colorado market is cool right now, which means it leans toward buyers: two of the three market signals point cooler than the national market. 32.3% of listings cut their price (national 26.4%), homes go pending in 55 days (national 53), and for-sale inventory is down 1.7% from a year ago. Affordability is the constraint: buying the typical home takes $138,758 of income, $41,645 more than the median household earns. Whether the timing is right also depends on mortgage rates and how long you plan to stay.
Is Colorado a buyer's or seller's market?
Colorado leans toward buyers. More listings are cutting prices than the national average (32.3% vs. 26.4%), homes take 55 days to go pending (national 53), and the number of homes for sale is down 1.7% from a year ago at 38K listings. Two of those three signals point toward buyers.
What is the average rent in Colorado?
In Denver, Colorado's largest metro, the typical asking rent is $1,922 a month, down 0.6% over the past year and up 9.5% over five years, per the rent index. The national typical rent is $1,948. Among Colorado cities we track, rents range from $1,342 to $2,597 a month.
Is it cheaper to rent or buy in Colorado?
Renting is cheaper month to month in Denver, Colorado's largest metro. Typical rent is $1,922 and the principal-and-interest payment on the typical home with 20% down is $2,880, a difference of $958 a month in favor of renting. The payment excludes property tax (0.49% of value in Colorado), insurance and maintenance, and renting builds no equity, so the full answer depends on how long you stay.
How much income do you need to buy a house in Colorado?
About $138,758 a year, using the standard assumptions of 20% down at current mortgage rates and a payment of no more than 30% of income. The median Colorado household earns $97,113, so the typical household is $41,645 short. That is the #40 smallest affordability gap of the 50 states. The monthly payment of $2,741 equals 33.9% of the median household's income.
Where are homes cheapest and most expensive in Colorado?
Among the Colorado cities we track with a published home value, the most expensive typical home is in Boulder ($948,693) and the cheapest in Pueblo ($282,535). Also at the top: Highlands Ranch ($694,234), Parker ($676,203), and Castle Rock ($660,519). The city table above lists every tracked Colorado city with its value, one-year change and rent.
How does Colorado compare with nearby states?
In the West, the closest comparisons on price are Utah ($534,582, up 1.5% in a year), Oregon ($496,113, down 0.1% in a year), and Idaho ($478,744, up 2.0% in a year). Colorado's typical home is $532,748, down 1.4%. On affordability, Colorado ranks #40 of 50 versus Utah at #37, Oregon at #42, and Idaho at #41.
How current is the Colorado housing data?
Every figure on this page comes from Zillow Research, which publishes state, metro and city data free each month for the prior month; the latest month shown is August. Median household income is from the Census Bureau's American Community Survey. We rebuild the page from the newest Zillow files as they are released.
Home values, rents, mortgage payments, income needed, inventory, price cuts, days to pending and sale and list prices are published by Zillow Research and shown as released, with attribution. Median household income and city populations are from the Census Bureau's American Community Survey. Home prices and housing markets in all 50 states →