It is literally the wild West right now when it comes to finding homes on the market in Denver. The supply of homes for sale has remained below demand, despite rent and selling prices rising. Homes have more than doubled in overall value in less than a decade, and home selling prices will likely continue to grow in the future.
The Great Denver Migration
The Denver population has been growing by leaps and bounds in recent years. From 2016, the population has gone from 696K to 749K in 2021. But don’t forget, 2021 still has four months left to account for.
The migration trend towards cities like Denver is not going to slow down any time soon. The trend remained consistent even during the pandemic. The World Population Review reports that there has been a 1.48% rise in the Denver population since 2020 and a whopping 25% jump since 2010. Denver also ranks as the 19th largest city in the U.S.
What is the Best Neighborhood to Live In?
With a population and housing boom, some questions on the minds of Denver natives and Denver transplants alike are:
What are the fastest-growing neighborhoods in Denver?
What should I pay attention to when looking for a place to purchase within a convenient radius of downtown?
5280 has its annual list of The 25 Best Neighborhoods in Denver, an excellent resource for those looking at where to buy. Although, who has time to go searching through all 25 neighborhoods to make comparisons?
This article will discuss three communities consistently showing up on lists compiled by real estate agencies and Denver lifestyle publications. We have selected three up-and-coming neighborhoods mentioned most frequently and are the more affordable spectrum of the list.
Lowry is a growing neighborhood due to its convenient location, lovely homes, and proximity to good schools. Located within 10 minutes of Cherry Creek and a 20-minute drive to downtown Denver makes this an ideal place to raise a family. People feel it is a safe community to live in and walk around. It is close enough to the city without being overcrowded or loud.
Historically relevant as a military hub for around 57 years, Lowry is most notably remembered for Lowry Air Force Base, a military base that had once boasted a population of about 20,000. Today, Lowry has a population of slightly under 9,000, and houses typically go for $700,000. Thus, this area is the most expensive of the three neighborhoods we are covering today. However, it is still worth the mention because of the benefits of the location and its increasing popularity.
There are family-friendly parks, playgrounds, and open spaces where concerts are held. Several of the beautiful parks within walking distance and worth mentioning here are:
Some popular local attractions that are available in the neighborhood are:
Check out the LowryDenver.com website, where there are tons of resources about the neighborhood, history, events, and general goings-on. Also, see why this area is appealing to those raising families and seeking to settle down.
Green Valley Ranch
While Green Valley Ranch was not on 5280’s list of best neighborhoods in Denver, we are listing it here because it deserves the spot and your attention.
It is a bit further outside of Denver than most of the neighborhoods associated with the Denver area, and it is 16 miles away from Downtown. A slight commute on I-70 may not be super close to city life, but the pros far outweigh the cons. One of the pros is its convenient access to the Light Rail, which makes the idea of commuting much more appealing.
With an overall population closing in on 37,000, there is still much growing on the horizon in Green Valley. In addition, the influx of job opportunities like the Panasonic Enterprise Solutions project and the Gaylord Rockies Resort indicates that this area ensures there is plenty of potential.
Situated about 15 minutes from the airport is another bonus of living in Green Valley Ranch. In addition, there are many newly built homes in the area that are appealing to those looking to buy newer homes without the hefty price tag. The homes in this area have increased in value and selling price over the past few years, but the average selling price is around $475,000.
Green Valley Ranch is a community that has seen a lot of growth in recent years and is poised to continue expanding. So don’t wait too long to check out why you should consider buying in this beautiful area. Prices continue to rise, and the low interest rates we are currently seeing will also be increasing, so make sure you act sooner rather than later for your slice of heaven while you can still get it!
Well situated, Hampden is close to more than just downtown Denver. It is located near Aurora and Centennial and is within throwing distance of Cherry Creek State Park. With access to the Light Rail and a mere 15-30 minute commute to downtown, this area has more to offer than just a great location.
Some of the neighborhood’s highlights include:
-2 movie theaters
With places like James A Bible Park, which is one of six outdoor spaces within and around Hampden, you’re going to want to get out of the house and enjoy the green spaces close by.
This area is growing fast but is still one of the few more affordable places to rent or buy a home in the Denver area, with the homes selling for an average selling price right below the $500,000 mark. This area won’t remain this affordable for too much longer, seeing as it is in a great location with plenty of options for good schools, dining, shopping, and outdoor activities.
With selling prices and demand at an all-time high, some feel their best option is to rent here in Denver, but the good news is that with mortgage rates still so low, homeownership may be just as financially viable for you as renting. So take advantage of this opportunity to get into your home instead of renting by reaching out to a real estate agent to see what options are available to you.
Not sure what you should be looking for as you explore your home-buying options? Check out this helpful article, Home Trends 2021: What Buyers Are Looking For, as inspiration for what to keep your eyes peeled for during your search.
Denver still has more growing to do, so check out these three neighborhoods and carve out a space for yourself, then sit back and watch the value and popularity of your chosen community continue to grow!
This long-underrated neighborhood has made it onto 5280’s list of Denver’s Best Neighborhoods, and it would be ridiculous not to mention it here. To quote 5280, Westwood not only earned a spot on the 25 best neighborhood list but also “earns the title of the least expensive neighborhood on our list, with average home prices under $350,000”.
Located 15 minutes from downtown Denver, Westwood is predominantly Hispanic and Latino, known for brightly colored murals, and designated as a Colorado Creative District. In addition, with a plethora of culturally diverse food and restaurant offerings, dining will never be boring.
With a population slightly above 20,000, Westwood is culturally diverse, is populated by a younger demographic, and is becoming a popular place to consider investing in a home.
On the cusp of significant gentrification, this lower-income community is seeing tremendous changes taking place and, in addition to a recreation center in the works, bringing much-needed resources to the neighborhood. In the past, there had been a lack of prioritization of funding to the community. Although, now that it is growing, Westwood is poised for its very own comeback story.