Real estate has become a popular avenue for people looking to diversify their income streams and potentially hedge against inflation. Whether you’re a seasoned pro or just getting started in investing, Denver, CO, is certainly worth considering.

Located between the western edge of the Great Plains and the eastern edge of the Rocky Mountains Front Range, Colorado’s capital city of Denver is the most populous city in the state. Affectionately known as the Mile High City, due to its high mountain altitude, the city of Denver is perfect for those looking for access to the great outdoors without sacrificing the modern conveniences of a major metro. 

While Denver is close in proximity to multiple national parks, most notably Rocky Mountain National Park, it is also a bustling hub for breweries, food, and live music; making the city a popular choice for people of all ages. 

But what about the Denver real estate market in April 2024? What do stats and trends look like contemporarily? Facts and figures are constantly changing, so we’ve gathered all the most up-to-date information for you.

Here are some of the top trends for the Denver real estate market (April 2024):

Denver General Statistics

• Population (city proper): 713,252 

• Population (metro area): 2,985,871 

• Area (city proper): 153.1 sq. mi. 

• Area (metro area): 8,344.6 sq. mi.

• Median Age: 35.1 

• GDP (metro area): $288 Billion

• Unemployment rate (metro area): 4.2% (up .9% Since December 2023)

• Top employers: Suncor Energy, Antero Resources, NICE Systems, Brownstein Hyatt Farber Schreck, DCP Midstream, Janus Henderson US, Whiting Petroleum, Leprino Foods, Gates, Western Union. 

• Highest paying jobs: Oral Surgeon, Oral and Maxillofacial Surgeon, Trauma Surgeon, Cardiologist, Senior Vice President Operations, Vice President/Managing Director, Psychiatrist, Urologist, President/Chief Executive Officer, Oncologist. 

• Median income (per capita): $59,271

• Median income (household): $88,213

Denver Real Estate Market (April 2024) Statistics

• Neighborhoods: 195

• Homes for sale as of April 2024: 3,083 

• Median list price: $599.9K (up 1.9% since December 2023)

• Median sold price: $588.5K (up 5.5% Since December 2023)

• Sale-to-list price ratio: 100%

• Median price per square foot: $400 

• Median days on market: 31 (down 40% since December 2023)

• Rental vacancy rate: 4.4%

• Homeowner vacancy rate: 0.9%

• One-year appreciation rate: 0%

• Average rent: 1,979 (up 0.1% since March 2023)

• Price-to-rent ratio: 26.02

• Most expensive neighborhoods:  

• Least expensive neighborhoods:

Final Thoughts: Denver Real Estate Market (April 2024) Trends

The Denver real estate market is constantly changing and evolving. But the potential for investors to profit is near-constant. Whether you’re an experienced real estate investor or brand new to the industry, the Denver real estate market could provide ample opportunity to build your portfolio.

Get Started Buying Homes With Evernest

Whether you’re purchasing one Denver home or one hundred, you don’t have to go it alone. 

If you’re ready to buy your first (or next) investment property, here are three steps to get started today:

• Subscribe to our podcast: The Evernest Real Estate Investor Podcast—for all things real estate investing, being a landlord, growing your portfolio, and more. 

• Find a property: Make sure you sign up for our Pocket Listings to get notified of all the deals that come across our desk daily.

• Get an investor-friendly agent: We can help with that—we would love to help you buy your next rental property investment.

This content was originally published on Evernest.co.