Finding an affordable place to live in Denver is becoming increasingly harder these days. The average cost for a single-family home is now over $500,000 and will only continue to rise. Despite the growth in popularity, there are still pockets around Denver where you can purchase a reasonably priced home. Many of these areas are on track for redevelopment, so buying now could turn out to be a great investment! Below we have come up with a list of some of Denver’s most affordable neighborhoods, based on the average sales price of homes in that area in 2018. Some of these communities are true Denver gems!
Montbello is one of Denver’s most vibrant, yet most misunderstood understood neighborhoods. Montbello, like other neighborhoods has suffered its fair share of socio-economic challenges. But today, the crime rate hovers right around Denver’s average, and continues to fall. In recent years, this diverse neighborhood has been home to a steady resurgence thanks in large part to its proximity to Denver International Airport and the advent of the light rail system. Montbello also boasts beautiful views of Mount Evans, Long’s Peak, and the Continental Divide.
The Barnum neighborhood was named after P.T. Barnum of Ringling Bros. Barnum and Bailey after he purchased the tract of land in 1878. The neighborhood may be named for a playful circus tycoon, but the community is known for being hard-working and serious about their neighbors. Barnum is a community of families and is generally younger than the rest of Denver. It’s a culture of modest single-family homes, locally owned businesses, and a park with one of the best views of Denver’s skyline.
Mar Lee is an old urban neighborhood that sometimes gets a bad rap due to some of the surrounding areas. But overall, is a neighborhood that has lots of character and charm. A mojority of residents own their homes and the area generally has lower crime rates than its neighboring communities. Garfield Lake Park is a cornerstone in Mar Lee. It offers a variety of features for the outdoor enthusiast including a fitness running course, basketball court, outdoor public pool, softball field, tennis court, picnic facilities, football field, and playground. A beautiful walking/biking path winds around the park and people love fishing in the lake.
If you’ve never heard of Indian Creek, you aren’t alone. It’s a small neighborhood southeast of Denver with a tight-knit community and low crime rates. The area is known for its diverse populations and draws in 20-somethings along with older parents hoping to streamline their living spaces. With homes that are modest in scale, quiet streets, and the proximity to High Line Canal, it’s easy to see why young couples are flocking here.
Colfax Avenue boasts the title of longest commercial street in the US. East Colfax is bustling with an eclectic mix of eateries, bars, brewpubs, and shops, as well as entertainment and live music venues. And it will soon become even more walk-able and vibrant. The neighborhoods immediate neighbors, Lowry and Stapleton have both recently undergone residential and commercial makeovers. After being neglected for decades, East Colfax is next in line for a transformation. Nearly $20 million will be put toward creating community gathering spots, affordable housing, and a new transit project.
Sun Valley sits along the Platte River and is one of the most geographically central neighborhoods in metro Denver. It has historically been one of the lowest-density and lowest-income areas of Denver. But Sun Valley is currently undergoing a major redevelopment that will transform it into a next generation neighborhood with 3,000 homes, 300 jobs, and new neighborhoods services. It will soon become one of the city’s most vibrant mixed-use, transit-serving communities.
Ruby Hill is a true hidden gem. Running along the South Platte River, it is nestled just 5 miles south of Denver. Only within recent years has this community truly begun to grow in popularity and blossom with possibility. The Ruby Hill neighborhood is widely known for its recreational opportunities and being a bicyclists paradise! The city is also planning on implementing several major improvements to the South Platte River and Ruby Hill Park which will benefit the neighborhood in coming years.
Harvey Park is a slice of suburb heaven sitting just 15 minutes southwest of downtown Denver. The area is brimming with mid-century modern charm, elevating it to the status of a true Denver gem. Over the years, Harvey Park has become incredibly diverse. There are Spanish and Asian populations, young families, and people who have lived here their whole lives. The coveted, yet affordable mid-century modern homes are a draw for Baby Boomers and Millennials alike. Not only is it the design that is attracting buyers, but the amount of outdoor space that accompanies these homes has major appeal as well.