If you’re looking to buy a home in Colorado with a $400,000 budget, where you search makes a big difference.
shows how much the $400,000 value varies from city to city.
In Colorado, the results show clear differences in the amount of space buyers can get.
Denver: Limited space
Denver homebuyers face some of the tightest space constraints in the Western U.S. The study found that $400,000 would buy only 881 square feet in Denver.
Thatap just enough for a small one-bedroom apartment and less than half the national median home size of 1,820 square feet.
In many big cities in the West and Northeast, $400,000 might only buy a small studio.
In the Midwest and South, the same amount can get you a larger home with several bedrooms and more space. Denver is one of the cities where space is at a premium.
Colorado Springs: More space for your money
Things change just 70 miles south in Colorado Springs.
There, $400,000 can buy 1,854 square feet, which is more than twice what you get in Denver and just above the national median of 1,820 square feet.
Colorado Springs ranks sixth among large Western U.S. cities for the most space you can buy with $400,000.
Aurora: Close to the national median
Aurora gives buyers about 1,770 square feet for $400,000.
Thatap a solid amount, but still just below the national median of 1,820 square feet.
For those who can’t afford Denver, Aurora could be a good balance between city access and more space.
Looking at the national picture
The differences in Colorado reflect trends nationally.
Across the U.S., $400,000, now the median sale price after rising over 20% since 2020, goes the furthest in the Midwest. Detroit leads the way, where that budget can buy nearly 5,000 square feet.
On the other hand, buyers in Manhattan get only 267 square feet for $400,000. California has six of the 10 largest cities in the country, where buyers get the least space for their money.
The news and editorial staffs of The Denver Post had no role in this postap preparation.
