4 numbers that explain Denver real estate right now

Westwood, May 31, 2017. (Kevin J. Beaty/Denverite)

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Westwood, May 31, 2017. (Kevin J. Beaty/Denverite) westwood; denver; colorado; kevinjbeaty; denverite; residential real estate;
Westwood, May 31, 2017. (Kevin J. Beaty/Denverite)

Call it dinner party prep.

Sometimes, when you’re sick of hearing about that friend of a friend who’s living the #vanlife, you just want to retreat into the warm embrace of simple numbers. So here’s a small curated set of figures to explain Denver real estate right now.

Less than 2 percent

African-American and Hispanic people in Denver could afford fewer than 2 percent of homes for sale in 2016, according to an analysis from Redfin. White households could afford 8.3 percent of for-sale homes, based on the median income figures.

Despite these low levels of affordability, the Denver metro had the smallest affordability gap between white households and households of color.

4th

Denver isn’t at the top of the much-watched Case-Shiller index anymore. For more than a year, Denver had the third-fastest growing home prices among the 20 major cities studied. Last month, Denver fell out of the top three. This month, it’s still out.

$7 million

Developers want $7 million in public funds to add 106 affordable apartments in South Broadway, across from the Mayan. The whole thing has been estimated to cost $30 million, which means a cost of about $238,000 per apartment.

79 percent

Most Denver millennials want to buy a home, a study from Apartment List found. Naturally, the biggest obstacle was unaffordability, according to 81 percent of millennials surveyed.