Housing horror stories may be entertaining, but they’re not always illuminating.
Instead, consider this small curated set of figures to explain Denver real estate right now.
Only 26 percent of Denver metro houses for sale last month cost less than $400,000, according to the Denver Metro Association of Realtors. That’s down from 65 percent in 2011. Even though $399,999 may still be out of many people’s price range, I thought it was an apt illustration of the growing housing unaffordability.
For a third month, Denver hasn’t been one of the top three markets for year over year housing price increases, according to the Case-Shiller index. The gap between current third-place market Dallas and Denver is very slim, though, so it’s possible that Denver could crack the top three again.
Just because you don’t know anyone in Denver who can’t afford their rent, it doesn’t mean that your barista isn’t struggling.
Service workers experienced a 12.3 percent decrease in their wages after rent from 2005 to 2015, according to an analysis from Apartment List. Meanwhile, workers in the engineering, healthcare and management professions saw their after-rent wages increase 1.9 percent.
Die-hard renters should do their best to find a place they like and stay put, according to Zillow. Their analysis found that after five years, Denver renters save an average of $417 per month.
Here’s another reason for renters to stay put if it’s an option: Less than half of renters nationwide who moved in the past two years moved to a place they said was better than their old one, according to the 2015 American Housing Survey. Almost 20 percent had worse housing.