The rent for a 3-bedroom in Denver is $2,500 per month, while the median price to buy a home of the same size is around $590,000.

If you're deciding whether to rent or buy while raising kids, it's definitely a tough choice.

Let's start by calculating the Price-to-Rent Ratio. Dividing the median home price of $590,000 by the annual rent of $30,000 gives us 19.7.

According to the guideline that a ratio below 15 favors buying and above 21 favors renting, 19.7 falls into a neutral zone. Denver has seen a significant influx of people since the pandemic, leading to rising home prices, but it is still not an extreme market leaning heavily towards either renting or buying.

Now, let's look at the monthly payment. If you make a 20% down payment of $118,000 and borrow the remaining $472,000 at a fixed rate of 6.75% for 30 years, the principal and interest would be about $3,061 per month. Adding property taxes of $541 and insurance of about $150 brings the total to around $3,752 per month. Compared to the rent of $2,500, that's a difference of $1,252 each month. It's a significant gap that could make you reconsider.

Consider what could have happened if you had invested the $118,000 down payment. At an annual return of 6%, it could yield about $7,000 a year. Calculating the $1,252 monthly difference annually gives you about $15,000, so it would be hard to offset this gap purely based on opportunity cost. However, the fact that you're building equity each month is a separate consideration.

• If you plan to stay for more than 5 years, buying is definitely worth considering.
• If you might move or have a short-term stay, renting is safer.
• Be sure to check the opportunity cost of the down payment investment.
• Compare commuting conditions with nearby cities.

Comparing with nearby areas can help in your decision-making. Colorado Springs has a Price-to-Rent Ratio of 19.2, similar to Denver, but the absolute prices are generally lower. Even within Denver, moving slightly to areas like Aurora or Lakewood can ease the rental burden relative to home prices. There are many good options that don't require you to stick strictly to downtown Denver.

If you plan to settle in the area for nearly 10 years and have a stable job, it can be quite reasonable to accept the $1,252 difference and proceed with buying. Considering principal repayment and potential appreciation can help in building assets in the long run. Conversely, if there's a chance you'll move within 5 years, maintaining your rental and keeping your finances flexible might be a more comfortable and safer choice.

Many Korean families are considering moving to Denver due to its natural environment and relatively reasonable cost of living. If you have sufficient financial resources and a strong commitment to settle, it might be worth considering buying. If you're still uncertain, living in a rental for 1-2 years to get a feel for the neighborhood is also a good approach.

The figures presented here reflect estimates based on market conditions in the first half of 2026, and actual listings and rents may vary depending on the neighborhood and property condition, so please check the latest information on sites like Zillow and Realtor.com and make decisions based on your personal situation.