When talking to those looking for homes in Denver, I often get asked where the money is concentrated. In fact, within the city of Denver, certain areas have distinctly different price ranges compared to others.

Cherry Creek comes to mind first. Centered around the Cherry Creek North shopping district, which is home to luxury stores and fine dining, the surrounding residential areas have a median price of around $1.3 million. This is more than double the overall median home price in Denver, which is around $550,000.

Hilltop is another area worth mentioning. Located right next to Cherry Creek, this quiet neighborhood features spacious lots and mature trees, with a median home price reported to be around $1.5 million. Further south, there is the separate municipality of Cherry Hills Village, where it is common for median prices to exceed $2.5 million.

Thanks to zoning policies that regulate minimum lot sizes, most homes in Cherry Hills Village come with large yards, and equestrian trails are found throughout the area. This principle of low-density development has led to its reputation as a gathering place for the affluent.

Cherry Creek and Hilltop are preferred by professional families seeking a quiet residential environment with good access to downtown Denver. The high ratings of the Cherry Creek school district also support the property prices in these areas.

The price gap between the overall Denver area and Cherry Hills Village can sometimes exceed four times. It's important to keep in mind that even within the same Denver metro area, tax rates, school districts, and zoning regulations can vary significantly across municipal boundaries.

Among Korean families in the Denver area, there has been a growing interest in neighborhoods near Wash Park and adjacent to Cherry Creek. Dual-income families, considering both school districts for their children and commuting to work, often aim to enter the Cherry Creek area within their budget.

If you are planning to move to Denver, I recommend first checking how property tax rates and school districts can vary significantly based on municipal boundaries. Even within the same zip code, there can be different administrative districts, so it's wise to look up the relevant school district each time you view a property.