Should You Buy Now or Wait in Denver, CO?
Pre-filled with Denver's median home price of $650,000, a typical rent of $2,850/month, and a 0.6% property tax rate. Adjust the rate and price assumptions to see whether buying now or waiting comes out ahead.
Your situation
Negative = you expect prices to fall before you buy.
Waiting comes out ahead over 7 years
By $97,312 in net worth
🏠 Buy now — net worth at year 7
$296,886
⏳ Wait 18mo — net worth at year 7
$394,198
Break-even price
5.0%/yr
Break-even rate
—
Rent while waiting
$52,405
Waiting is ahead by $97,312 at year 7
Waiting ends with $394,198 in net worth — $97,312 more than the alternative — and holds up across a reasonable range of rate and price assumptions. Waiting only pulls ahead if prices move below about 5.0%/yr during the wait.
- ›Shortening the wait from 18 to 6 months cuts the $52,405 of rent you'd otherwise burn before owning.
- ›Waiting only pulls ahead if prices move below about 5.0%/yr during the wait.
⚡ Waiting 18 months means $52,405 paid in rent with no equity to show for it.
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The Denver market and the timing decision
Denver's unusually low property tax rate (0.6%, among the lowest in this list) partially offsets its relatively high home prices, making the ongoing cost of ownership more favorable than the purchase price alone would suggest.
Colorado has a flat 4.4% state income tax, and Denver's property tax rate of 0.6% is notably low for a major metro — among the most favorable property tax environments in this list.
Compare other markets
Educational content only — not financial advice
Local price, rent, and tax figures are estimates for Denver, CO and will differ by neighborhood and property. Future mortgage rates and home prices cannot be predicted. Consult a qualified mortgage, financial, or real estate professional before making a home-purchase decision.