Watch Denver’s monthly mortgage payment outstrip the national average

Denver has been an expensive place to own a home — relatively speaking — for a long time.

staff photo
In 1994, Denver metro's mortgage payments were $34 above the national average.

In 1994, Denver metro's mortgage payments were $34 above the national average.

There was a time when a normal monthly mortgage payment in the Denver metro area was less than the national average. That ended in 1994. That’s according to a new study from the Joint Center for Housing Studies of Harvard University.

But from that point forward, the monthly mortgage payment on a median-priced home in Denver never fell below the national average. Read on to see how closely the metro’s mortgage payments followed the rest of the country. I’ve broken it down by decade.

At the onset of the Great Recession, mortgage payments closely followed the national average, but they never fell to quite the same lows.

A value for Denver in 2004 was not available.

A value for Denver in 2004 was not available.

In a shock to pretty much no one, the average Denver mortgage payment began to pull away farther from the national average within the past four years. However, mortgage payments on a Denver median-value home aren’t any higher than the levels that they hit from 2000 to 2006.

Monthly_mortgage_payment_from_2010_to_2015_United_States_Denver-Aurora-Broomfield,_CO_Metropolitan_Statistical_Area_chartbuilder

Anyway, a reminder that the Denver metro, being a city and all, has always been a more expensive area to live in.

 

 

Hi! You’re like us!

Looks like you’re the type of person who reads to the ends of articles! Well, true believer, you might really like our morning newsletter. It’s quick, free and gets you up to speed on the important and delightful things happening right here in Denver.

Thanks for reading another Denverite story

Does Denverite help you feel more connected to what’s up in your area? Do you want to be a part of it?

Member donations are critical to our continued existence and growth.

Thanks for reading another Denverite story

Does Denverite help you feel more connected to what’s up in your area? Do you want to be a part of it?

Member donations are critical to our continued existence and growth.

You’re our superpower

Denverite supporters have made the decision to financially support local journalism that matters to you. Ready to tell your networks why? Sharing our “About” page with your own personal comments could really help us out.

You’re our superpower

Denverite members have made the decision to financially support local journalism that matters to you. Ready to tell your networks why? Sharing our “About” page with your own personal comments could really help us out.