How Much Do You Need To Make To The Buy A House Denver

Dated: 11/26/2018

Views: 360

Image titleAccording to a recent analysis from,  the nation's largest publisher of mortgage and consumer loan information, the salary needed to afford the typical home in metro Denver is catching up to Washington, D.C., and already exceeds Miami, Portland, and Sacramento. So just how much do you need to pull in annually to afford the average place in Denver?

Keith Gumbinger,’s vice president, calculates a metro Denver buyer in the third quarter needed to earn $91,276.61 to afford a loan on the median-priced home, which the National Association of Realtors lists at $450,100.

That puts Denver at the 9th highest salary requirement among the 50 large metros included in the survey, and this assumes buyers put 20 percent down. If they only put 10 percent down, then the salary requirement increases to $105,319.45 in metro Denver. The estimate also used a 4.69-percent interest rate on a 30-year mortgage.

Over the past year, metro Denver’s median home prices are up 7.65 percent, while the salary required to purchase that median home in Denver is 14.9 percent higher. The difference can be explained by higher interest rates.

Just ahead of Denver in the rankings for income required were New York City, Seattle, and Washington, D.C.

While affordability may be on the decline in Denver, there are still some really solid deals to be found for potential buyers. That is if you know where to look. If you’re on the hunt for a house in the Mile High, contact Metrowest. We’d love to show you around!

Blog author image

Brent Sena

Brent was born and raised in Colorado and enjoys all that the state has to offer. Brent is a graduate of Metropolitan State University of Denver, where he received a BS in Business Management. After ....

Latest Blog Posts

Denver Takes Top Spot For Rising Home Prices Since Great Recession

According to a recent report from ATTOM Data Solutions, median home prices in the Denver area have risen by a greater percentage than other U.S. city since the Great Recession, which officially

Read More

Denver July Market Hits Seasonal Summer Slump

While July’s weather heated up in metro Denver, home buying and selling activity did not. That’s according to a recent report from the Denver Metro Association of Realtors (DMAR), who said home

Read More

Neighborhood Spotlight Holly Hills

Named the best place to live in Colorado by ranking site, Holly Hills doesn’t have the same name recognition as better known areas like Boulder or Wash Park. So why should this area be

Read More

5 Financing Options For First Time Home Buyers

As a first time home buyer, you may think you’ve only got a handful of financing options to choose from when selecting your first property. However, there are actually several options to choose

Read More