Denver Real Estate Market Analysis

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Denver, dubbed the Mile High City, is the largest city and capital of the state of Colorado. It is located in the South Platte River Valley, east of the Front Range of the Rocky Mountains. With a population of over 716,500 people, Denver is the 19th most populous city in the U.S. Denver is part of the Denver-Aurora-Lakewood Metropolitan Statistical Area, the country’s 19th largest, with over 2.9 million residents. 

The city is expected to experience population growth that is well above the national average thanks to a strong net migration. This, along with the fact that a large percentage of the population is between the ages of 25 and 44, help boost the economic activity in Denver. And with more than half (51% according to NeighborhoodScout) of the city’s residents living in rental properties rather than owning their own homes, investing in a Denver rental property is a great option. 

The Mile High City is the financial, commercial, and transportation capital of the Rocky Mountains region. It ranked  #4 on Forbes’ list of “Best Places for Business and Careers” last year. Due to its relatively central geographic position within the U.S., Denver has become a hub for storage and distribution of goods and services to the American West, as well as some large cities of the Midwest. Its location just east of the mineral-rich Rocky Mountains has also drawn mining and energy companies to the area, making the energy industry a major contributor to the economy. The Newmont Mining Corporation, the 2nd largest gold producer in North America and one of the largest in the world, has its headquarters in Denver.  Denver’s geographic location also benefits the telecommunications industry; it is located within the Mountain Time Zone, which allows communication with other continents on the same business day.

The U.S. government has a strong presence in the city and is in fact the largest employer in the Denver metro area. Many federal agencies and companies related to U.S. aerospace and defense are based in Denver, attracting a particularly young workforce seeking employment in the city. Denver is home to other large corporations employing workers in a range of fields such as technology, manufacturing, air transportation, construction, finance, education, retail, healthcare, food service, and brewing. The multiple economic sectors and the strong economic growth make the city a good location for those considering to invest in the Denver real estate market, especially when it comes to long-term rental properties.  


The Denver housing market was named the 8th most important U.S. Market to Watch by PWC in its annual Emerging Trends in Real Estate: United States and Canada 2019 report. According to the report, real estate investment and development activity is robust in nearly all property types in the Denver market. 

Denver  Real Estate Investment Performance

Facts and Market Trends in Denver
Homes For Sale2,081
Airbnb Properties2,824
Rental Properties285
Traditional Vacancy rate3.40%
Airbnb Occupancy Rate69.69%
Mashmeter29.64%
Median Price$600,000
Median Rent Price$2,469
Price/sqft$410
Median Days on Market28
Price to Rent Ratio28.1
Average Cap Rate
Airbnb4.18%
Traditional2.85%
Average Rental Income
Airbnb$4,142
Traditional$2,289
 
Median Household Income$78,177
Population711,463
Transportation in Denver
61 / 100
Somewhat Walkable
45 / 100
Some Transit
72 / 100
Very Bikeable
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Denver  Rent Prices

RENTAL STRATEGY STUDIOS 1 BEDROOM 2 BEDROOMS 3 BEDROOMS 4 BEDROOMS
Airbnb$2,401$2,534$3,309$4,752$5,527
Traditional$1,631$1,582$2,202$2,589$2,874

Denver, CO - Homes for Sale - Newly Listed

3131 E Alameda Avenue #505
Denver, CO 80209
Belcaro
Condo/Coop
2 beds2 baths1,617 sq.ft.
CAP RATE
Trad. 4.95%Airbnb 3.76%
1338 Spruce St
Denver, CO 80220
East Colfax
Single Family Residential
2 beds1 baths827 sq.ft.
CAP RATE
Trad. 2.74%Airbnb 2.96%
6378 S Harlan Way
Denver, CO 80123
Marston
Single Family Residential
4 beds2 baths2,737 sq.ft.
CAP RATE
Trad. 2.69%Airbnb 2.61%
7309 W Hampden Ave #5404
Denver, CO 80227
Bear Valley
Townhouse
2 beds1 baths946 sq.ft.
CAP RATE
Trad. 2.95%Airbnb 3.40%

Top Performing Denver Properties

3301 N Madison St
Denver, CO 80205
Clayton
Single Family Residential
3 beds1 baths1,135 sq.ft.
CAP RATE
Trad. 3.70%Airbnb 7.86%
2407 W Hillside Ave
Denver, CO 80219
College View - South Platte
Single Family Residential
3 beds1 baths943 sq.ft.
CAP RATE
Trad. 4.31%Airbnb 7.85%
4727 E Bails Pl
Denver, CO 80222
Virginia Village
Single Family Residential
4 beds2 baths2,126 sq.ft.
CAP RATE
Trad. 3.79%Airbnb 7.81%
2727 E 42nd Ave
Denver, CO 80216
Clayton
Single Family Residential
1 beds1 baths751 sq.ft.
CAP RATE
Trad. 4.49%Airbnb 7.81%

Recently Sold Homes in Denver, CO

3520 Eudora St
Denver, CO 80207
North Park Hill
Multi Family
6 beds baths2,152 sq.ft.
CAP RATE
Trad. 2.01%Airbnb N/A
4100 Albion St #4-416
Denver, CO 80216
Northeast Park Hill
Multi Family
3 beds2.5 baths1,857 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
5221-5223 E Thrill Pl
Denver, CO 80207
North Park Hill
Multi Family
4 beds baths1,587 sq.ft.
CAP RATE
Trad. 2.89%Airbnb N/A
2523 Grove St
Denver, CO 80211
Jefferson Park
Multi Family
3 beds baths1,239 sq.ft.
CAP RATE
Trad. 2.65%Airbnb N/A

Property Value Changes and Real Estate Appreciation in the Denver Housing Market

The Denver real estate market has witnessed a strong real estate appreciation in recent years. Since Q1 of 2000, Denver properties have experienced a total appreciation of 122.59% according to NeighborhoodScout, which is an average annual home appreciation rate of 4.24%.

Zillow reports that Denver property values have gone up 2% over the past year but are predicted to fall 0.1% within the next year. Denver housing prices are starting to cool down due to a growing supply of residential listings on the market. 

The Denver housing market is currently a buyer’s market. The last couple of months saw more homes up for sale in the Denver area than any other month in the past five years, which is good news for prospective investors who now have more options to choose from when buying an investment property.

Denver, CO Top Multi Family Homes

1469 N Quitman St
Denver, CO 80204
West Colfax
Multi Family
2 beds baths2,273 sq.ft.
CAP RATE
Trad. 2.62%Airbnb 3.94%
3506 Osage Street
Denver, CO 80211
Highland
Multi Family
3 beds5 baths3,262 sq.ft.
CAP RATE
Trad. 1.02%Airbnb 2.47%
1437 N Uinta Street
Denver, CO 80220
East Colfax
Multi Family
3 beds1 baths1,143 sq.ft.
CAP RATE
Trad. 6.00%Airbnb N/A
3501 W Walsh Pl
Denver, CO 80219
Westwood
Multi Family
5 beds baths1,427 sq.ft.
CAP RATE
Trad. 2.92%Airbnb N/A

Homes Below Median Price in the Denver, CO Real Estate Market

3301 N Madison St
Denver, CO 80205
Clayton
Single Family Residential
3 beds1 baths1,135 sq.ft.
CAP RATE
Trad. 3.70%Airbnb 7.86%
2407 W Hillside Ave
Denver, CO 80219
College View - South Platte
Single Family Residential
3 beds1 baths943 sq.ft.
CAP RATE
Trad. 4.31%Airbnb 7.85%
4727 E Bails Pl
Denver, CO 80222
Virginia Village
Single Family Residential
4 beds2 baths2,126 sq.ft.
CAP RATE
Trad. 3.79%Airbnb 7.81%
2727 E 42nd Ave
Denver, CO 80216
Clayton
Single Family Residential
1 beds1 baths751 sq.ft.
CAP RATE
Trad. 4.49%Airbnb 7.81%

Denver Airbnb Growth and Regulations

The Denver Airbnb business has experienced major growth in recent years. In 2018, nearly 477,100 Airbnb guests stayed at Denver short-term rentals, bringing a total revenue of $74.6 million to the local Airbnb hosts. This represents about 25% of Colorado’s total Airbnb income. 

Denver, however, has strict regulations governing short-term rentals. The use of a non-owner occupied Airbnb investment property is illegal. Only the host’s primary residence can be used as a short-term rental, i.e. the owner of the property must be on site during the guests’ stay.

All homeowners planning on renting their primary residence to guests for a period of less than 30 consecutive days must obtain a Short-Term Rental business licence that will need to be renewed annually for a fee of $25. But first, a Lodger’s Tax ID must be obtained in order to be eligible for the business licence; it costs $50 and must be renewed every two years at that same fee.  

There are also a number of other Airbnb regulations set in place by the city of Denver, including many operational requirements. Hosts must hold a minimum of $1 million worth of liability insurance for the property and notify both their insurer and homeowner associations that they are using their home as a short-term rental; the Airbnb platform, however, provides insurance for its operators, offering at least $1 million worth of coverage. It is important for Airbnb Denver investors to know that it is the city’s right to revoke, sanction or deny a Short-Term Rental licence or application if its requirements are not maintained, or if a rental property negatively affects the public health, safety or welfare of a neighborhood.

Denver, CO Top Airbnb Homes

Entire home/apt · 1 bed
Sonder Zuni | Studio Apartment
866
Entire home/apt · 2 beds
Relax & Style basement
801

Denver, CO Homes for Rent

1100 Rosemary Street
Denver, CO 80220
East Colfax
Apartment
2 beds1 baths759 sq.ft.
1623 S Marion Street
Denver, CO 80210
Platt Park
Single Family
5 beds4 baths2,636 sq.ft.
336 E 1st Avenue #309
Denver, CO 80203
Speer
Apartment
2 beds2 baths1,043 sq.ft.

Denver, CO Open Houses

3420 W 5th Ave
Denver, CO 80204
Barnum
Single Family Residential
1 beds1 baths503 sq.ft.
CAP RATE
Trad. 3.42%Airbnb 5.41%
2896 South Forest Street
Denver, CO 80222
University Hills
Single Family Residential
4 beds2 baths1,300 sq.ft.
CAP RATE
Trad. 3.10%Airbnb 7.36%
252 N Pennsylvania St #203
Denver, CO 80203
Speer
Condo/Coop
1 beds1 baths646 sq.ft.
CAP RATE
Trad. 4.99%Airbnb 4.67%
2941 W 55 Ave
Denver, CO 80221
Chaffee Park
Single Family Residential
2 beds1 baths702 sq.ft.
CAP RATE
Trad. 1.78%Airbnb 4.57%

Best Denver Neighborhoods for Buying Investment Property

Sun Valley
Denver, CO
55%
Mashmeter
property price
472500
Median
cap rate
5.66%
Traditional
10.22%
Airbnb
rental income
$2,227
Traditional
$4,023
Airbnb
homes for sale
1
occupancy rate
69%
Airbnb
Ruby Hill
Denver, CO
54%
Mashmeter
property price
470000
Median
cap rate
4.83%
Traditional
8.58%
Airbnb
rental income
$1,894
Traditional
$3,362
Airbnb
homes for sale
1
occupancy rate
70%
Airbnb
Five Points
Denver, CO
49%
Mashmeter
property price
644500
Median
cap rate
4.11%
Traditional
8.74%
Airbnb
rental income
$2,208
Traditional
$4,696
Airbnb
homes for sale
16
occupancy rate
72%
Airbnb
Virginia Village
Denver, CO
48%
Mashmeter
property price
697500
Median
cap rate
3.32%
Traditional
5.90%
Airbnb
rental income
$1,930
Traditional
$3,432
Airbnb
homes for sale
1
occupancy rate
64%
Airbnb
Westwood
Denver, CO
46%
Mashmeter
property price
425000
Median
cap rate
4.73%
Traditional
7.88%
Airbnb
rental income
$1,674
Traditional
$2,790
Airbnb
homes for sale
1
occupancy rate
68%
Airbnb
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