House Affordability in Denver
Median home price: $575K · Property tax: 0.55% · Insurance: $2,100/yr
You can afford a home up to
$225,779
Below entry-level in Denver
Based on your $75,000 income with 20% down
Your $225,779 budget buys
Monthly payment breakdown
$1,750/mo
Home price
$225,779
Down payment
$45,156
Loan amount
$180,623
No PMI
Waived (20%+ down)
Estimates based on the 28/36 DTI guideline with Denver-specific property tax and insurance rates. Actual mortgage approval depends on credit score, employment history, and lender criteria.
Denver Housing Market Overview
Denver offers relatively low property taxes and strong income growth. The metro area has seen significant price appreciation over the past decade.
The median home price in Denver is $575,000, which is 40% above the national median of $412,000. Property taxes average 0.55% of assessed value, adding $264/month to housing costs.
Homeowners insurance averages $2,100/year ($175/month). Condos and townhomes typically carry HOA fees around $300/month.
What can you buy in Denver?
Typical price ranges by property type in Denver, CO (2024/2025 estimates).
| Property type | Price range | Down payment (20%) |
|---|---|---|
| 1-bedroom condo | $250K – $380K | $50K – $76K |
| 2-bedroom condo/townhome | $350K – $520K | $70K – $104K |
| 3-bedroom home | $480K – $700K | $96K – $140K |
| 4-bedroom home | $650K – $950K | $130K – $190K |
| 5+ bedroom home | $850K – $1.40M | $170K – $280K |
Sources: Zillow, Redfin, Realtor.com (2024/2025 estimates). Prices vary by neighborhood.
Income needed to buy in Denver
Minimum annual income to afford each property type at 28% DTI, 20% down, 6.75% rate.
| Property type | Midpoint price | Income needed |
|---|---|---|
| 1-bedroom condo | $315K | $83,736/yr |
| 2-bedroom condo/townhome | $435K | $112,778/yr |
| 3-bedroom home | $590K | $150,291/yr |
| 4-bedroom home | $800K | $201,115/yr |
| 5+ bedroom home | $1.13M | $279,772/yr |
Green = achievable at Denver's median household income of $93,000.
Cost of living context
The median household income in Denver is $93,000, which is 24% above the national median of $75,000.
At the median income, a household can afford roughly $353K using the 28% DTI rule — which falls short of the $575K median. Many buyers need dual incomes, a larger down payment, or lower price points.
FAQ
Can I afford a house in Denver on a $100,000 salary?
At $100K with 20% down and 6.75% interest, you can afford roughly $382K in Denver using the 28% DTI rule. The median home price is $575K, so you may need to look at lower price points or increase your down payment.
What income do I need to buy a house in Denver?
To afford the median price of $575K with 20% down at 6.75%, you need approximately $146,661/year (28% DTI). The median household income in Denver is $93,000, which is below what is needed.
What are property taxes like in Denver?
The average property tax rate is 0.55%, or $3,163/year on a median-priced home. This is below the national average of 1.2%.
What does a 3-bedroom home cost in Denver?
A typical 3-bedroom home costs between $480K and $700K, with the midpoint around $590K.
Is Denver affordable compared to other cities?
Denver's median price of $575K is 40% above the national median of $412K. Median household income is $93,000, 24% above the national median.
Other cities
- San Francisco, CA — median $1.35M
- New York City, NY — median $780K
- Los Angeles, CA — median $950K
- Chicago, IL — median $340K
Related tools
- Colorado House Affordability — statewide data
- Colorado Paycheck Calculator — calculate your take-home pay
- House Affordability Calculator — compare all cities
- Compare Job Offers — factor in housing costs