When people say they are moving to Denver, the first thing I tell them is, "Know the home prices before you come."

Many still think of Denver as a moderately priced city in the Midwest with good air and nice mountains, but the real estate market is no longer at that stage. Back in the early 2010s, people coming from California would be shocked, saying, "A house for this price?" but now the situation has completely changed.

The median sale price for single-family homes in the Denver metro area is around $550,000 to $600,000 as of 2026.

At first glance, it may seem cheaper than LA or San Francisco. However, the important factor is the home prices relative to income. Denver is no longer an 'affordable alternative city.' It has become a significant burden for young professionals looking to buy their first home.

The differences between neighborhoods are even greater. Upscale residential areas like Cherry Creek or Cherry Hills Village are already seeing prices starting at a million dollars. The combination of good school districts, amenities, and a pleasant environment keeps prices high.

On the other hand, in outer areas like East Aurora, Thornton, or Commerce City, you can still find homes in the $400,000 to $500,000 range. However, considering commute times and traffic congestion, it's not just about the home prices when making a choice.

As a result, many are now opting to buy condos or townhomes first. With median prices ranging from $350,000 to $450,000, they are more accessible than single-family homes. Of course, HOA fees must be considered, but they are becoming a realistic option for those looking to secure their first home in Denver.

Interestingly, despite rising interest rates, home prices have not significantly dropped. Typically, when interest rates rise, the real estate market cools down, but Denver continues to see a steady influx of residents.

Many are moving from California or large cities on the East Coast, and remote work has allowed professionals to continue relocating. With steady demand and limited land supply, prices are not easily dropping.

Why has this happened? Denver has almost all the conditions that Americans love. It has plenty of sunny days throughout the year, and outdoor activities like skiing and hiking are within reach. Additionally, the tech, aerospace, and energy industries are growing, leading to a steady increase in high-paying jobs. In short, it has become a city where people want to live.

So, if you're considering moving to Denver, it's wise to calculate not just home prices but also property taxes, insurance costs, HOA fees, and commuting distances.

While it may not yet be at the level of San Francisco or LA, Denver is no longer the 'hidden gem city with great value.'

It's best to come knowing that the current Denver has home prices that are quite high, just like the scenic views of the mountains.