Denver is one of the hottest real estate markets in the United States. With a sprawling landscape, breathtaking mountains, and plenty of job opportunities, it’s no wonder why so many people are drawn to this city. The skyrocketing prices in Denver make it difficult for many potential buyers to afford homes here, prompting some to look elsewhere in the area.
If you’re looking for an affordable alternative to Denver, consider Aurora. This city is just east of Denver and offers many of the same amenities as its neighbor, including outdoor recreation, access to major highways and public transportation, excellent schools, and more. Home prices are significantly lower than those found in Denver while still offering the same benefits of living in a big city.
Highlights of the Denver Housing Market
- The median home value in Denver is $443,000, up 14.3% from last year and a record high for the city
- Average rent for apartments and homes increased 2.7% over the past year
- Rental prices are expected to continue increasing due to strong demand from renters
- Home sales were up 18.2% from last year, with an average time on the market of only 44 days
- The average sale price for single-family homes increased 13.1% over the past year
- Multi-family properties saw a 14.3% increase in value over the same period
- New construction is booming across Denver, with numerous new housing developments popping up
About Aurora, CO
According to DTC Movers, a long-distance moving company in Denver, Aurora is an excellent alternative for those looking for more affordable housing choices in the Denver area. Home prices are much lower than Denver’s median home value, with the current median being $323,000. This is a great opportunity for first-time homebuyers or those who are on a budget but still want to live near the city.
Rents are also more affordable than those in Denver, with the average rent being $1,599. This is especially attractive for renters who want to save money without sacrificing location and amenities.
The city of Aurora is home to numerous outdoor recreation opportunities, including parks, trails, golf courses, and other attractions. With easy access to major highways and public transportation, commuting to work or school is easy. In addition, the city offers excellent schools and a vibrant arts community, making it an attractive option for those looking to settle down in Colorado.
If you have a plan to relocate to Aurora and need assistance, here are steps to get you started:
1. Research the neighborhoods
Research different neighborhoods to find out which ones are the best fit for you. Make sure to take into account factors such as home prices, proximity to amenities, and access to public transportation.
2. Look into real estate agents
Talk to a local real estate agent and ask them about the current market conditions, recent sales data in the area you’re looking at, and any other information they can provide. This will help you make an informed decision when it comes time to buy or rent.
3. Start searching for homes
Once you have all the information you need, it’s time to start looking at properties. Look online or in the newspaper, and even contact real estate agents to find out what’s available.
4. Apply for a loan
If you plan on buying a home in Aurora, make sure to apply for a mortgage loan. Contact a few local banks to find out what their rates and terms are, so you can choose the best option for you.
5. Make an offer
Once you find a home that meets your criteria, make sure to make an attractive offer so the seller will accept it. Work with your real estate agent or lawyer if needed.
6. Move in and enjoy!
Once you’ve gone through the house-buying process, it’s time to move into your new home and start enjoying all that Aurora has to offer!
With its affordable housing and numerous outdoor recreation opportunities, Aurora is an attractive alternative for those looking for a more budget-friendly option close to Denver. Whether you’re looking to rent or buy, Aurora is a great choice for your next home. Start researching today and start enjoying the benefits of Aurora soon!