Denver Housing Market Ranks Third In The Nation

Dated: 02/04/2019

Views: 269

Image title

While it may feel like everyone in the country is flocking to Denver, according to a new report from Zillow, Silicon Valley actually takes the top spot in terms of hot housing markets. Coming in at #3, however, Denver isn't too far behind.

To determine the nation’s hottest housing markets, Zillow looked for cities with strong income growth, low unemployment rates, growing populations, and home values and rents that are on track to outpace the rest of the nation in 2019.

According to the data, San Jose came in first as the hottest housing market for the second year in a row. Zillow’s research shows that the Northern California city has the lowest unemployment rate and the most jobs per person out of the 50 largest metros in the country. It also boasts the highest home values as well as the highest forecasted home value appreciation.

The rest of the list, however, indicates a shift in the overall housing market.

Zillow Senior Economist Aaron Terrazas said that Silicon Valley's jobs market has propelled the region's housing market, which they expect to continue into the early months of 2019. However, there are some signs that the trend is moving away from the West Coast and toward the South and Southeast. He also said affordability is attractive for both young professionals and booming businesses, which makes markets like Orlando, Minneapolis, Dallas and Nashville very desirable in 2019.

In Denver, the median home value is $403,800 compared to San Jose’s median home value of $1.2 million. Median monthly rent in Denver is $2,075 compared to $3,521 in San Jose.

Here are the cities that made Zillow’s list of hottest markets:

  • San Jose

  • Orlando

  • Denver

  • Atlanta

  • Minneapolis

  • San Francisco

  • Dallas

  • Nashville

  • Jacksonville

  • San Diego

If you’re ready to explore homeownership in Denver, you’re in good company. Our market remains fairly competitive, but there are still some great deals to be found, especially if you know where to look. Contact Metrowest today – we’d love to show you around!

Blog author image

Anna Mata

I am a proud native Coloradan born and raised. I have seen first hand the tremendous growth and change Colorado has seen over the last thirty years. I look forward to working with you.....

Latest Blog Posts

Denver Reclaims 2 Spot On Best Place To Live List

For a variety of reasons, anyone who lives in Denver knows it’s a great place to call home. And we’re not the only ones who think so.  A new ranking by U.S. News & World Report re-confirms

Read More

Despite Minor Cooling Denver Still Considered A Hot Market

If you’ve been keeping your finger on the pulse of the real estate market in the Mile High City, you’re probably aware that Denver’s been experiencing a bit of a cool down in recent months. It

Read More

Profiling Elizabeth Colorado Next Hot Spot For Millennials

“Quaint” and “rural” are two great descriptors for the small community of Elizabeth. But this small town of about 1,500 is starting to gain some attention from a seemingly unlikely audience.

Read More

Exploring Denvers Wellshire Neighborhood

Boasting a strong sense of community and quiet lifestyle, people are beginning to take notice of Denver’s Wellshire neighborhood.  Featuring a mix of city and suburban living, Wellshire is

Read More