Where Denver-area starter homes cost at least 1 million

The Zillow report indicates that Cherry Hills Village, Bow Mar, and Columbine Valley in the Denver metro area now have typical starter home prices exceeding $1 million. These figures—$2. 1 million, $1. 6 million, and $1. 2 million—illustrate the escalating challenge of homeownership for younger buyers.

While Denver itself does not feature on the list of cities with million-dollar starter homes, it remains expensive, requiring nearly $127,000 in annual income for buyers. Mayor Mike Johnston emphasized the issue, stating that 50% of renters in Denver cannot afford to live in the city. Nationwide, the number of cities with million-dollar starter homes has grown to 233, a steep increase from March 2020. This trend reflects a broader issue of housing affordability, with half of all states now reporting at least one city with such pricing. The median age of first-time buyers in Denver exceeds 40, further highlighting the struggle to achieve homeownership.

As housing prices rise, Denver's wealthiest suburbs appear even less affordable, making the city seem relatively cheaper in comparison.