It’s cheaper to rent than buy in Denver County, report says
New apartments and condos loom over the Denver Skate Park. (Andrew Kenney/Denverite)
In most of the country, it’s cheaper to buy a home than it is to rent one, according to a report from ATTOM Data Solutions. Of course, Denver’s housing market isn’t like most of the country.
The report found making monthly house payments on a median-priced home is more affordable than the fair market rent on a three-bedroom property 66 percent of the 540 counties analyzed.
Denver was not one of them. According to ATTOM, renting requires only 37.2 percent of average wages in the area, while owning a home takes 41 percent of wages. However, both figures are above the old ‘don’t spend more than a third of your income on housing’ rule.
Other counties where ATTOM found it more affordable to rent include familair big-name cities: Los Angeles County, California, San Diego County, California; Orange County, California; Kings County (Brooklyn), New York and more.
Denver is more than than just the city though, and neighboring counties were a bit more mixed.
Seems that if you’re looking to buy, maybe it’s best to give Adams or Arapahoe County a shot.
Denverites protest more police killings as they wait for the verdict in Derek Chauvin’s trial
Restaurant operators say fewer COVID-19 restrictions “didn’t really change all that much” on the first day
Why you received an ominous Brita filter in the mail from Denver Water
Art District on Santa Fe considers resuming First Fridays
Things to do in Denver this weekend, April 16-18
Why some people nearly had Garth Brooks staring into their homes on Colorado Boulevard
Denver’s considering forcing landlords to apply for licenses to rent their properties
What the new, looser COVID-19 restrictions mean for your social life, Denver
Film on the Rocks is rolling back to Red Rocks. Here’s what you can watch and when.
Zaidy’s Deli will reopen at a new Holly and Leetsdale location after closing in Cherry Creek last year
Denver also stops use of vaccine from Johnson & Johnson
As the need grows for shelters for minors experiencing homelessness, Denver chips in money for services
Airbnb is cracking down on Fourth of July one-night stays to prevent partying in the pandemic
After a year of furloughs and delays, Colorado Ballet is finally getting back into dancing shape
The Museum of Nature and Science’s arachnid queen now has a trapdoor spider named after her
One of the oldest homes in Northeast Park Hill could be on the chopping block
Maps of toxic hazards show a wash of chemicals over the Denver metro’s north and west edges
Things to do in Denver this weekend, April 9-11
Black Denverites are more likely to be ticketed and arrested than white people in many categories
