Are you curious what real estate is doing in your neck of the woods? Then you got to check out this real estate report card that can be run for any zip code across the country. This particular one is for the zip code 80203 in Denver, Colorado, which is close to my home. And you can see some of the really insightful data that it shows here. First of all, it shows the median home price in the area, 791,000. That's unbelievable. It's that high. So what median means is half the homes are priced higher and half are priced lower. Not the same thing as average. Now, if you take the median home price and take it according to the forecasted appreciation, that's another piece of data that this report gives you. 

Now, forecasted is based on a lot of different things and no one has a crystal ball, but 5.51% is expected over the next five years average. And if you look at historically, that's right in line with what we've seen historically, you get the historical data over here and that 791,000 home today. That median priced home will appreciate to just over a million dollars in just five years. I don't know about you, but I would love to build over 200,000 in equity over the next five years. So, really interesting data there. The next part is demographics. It shows that there's 6800 homes being built per year in Denver. It's hard to believe there's that much land available in Denver to build 6800 homes. But nonetheless, that's it. It shows demographics by age. Obviously a very young population in the Denver area. 

So a lot of those types of people, the ratio of homeowners to renters, and then the renters that can afford to buy a home. And then the next section is affordability. And you can see here the median household income a little over 99,000, which is above the national average. Not surprising with the cost of living in Denver and affordability very low. You can see here the affordability index is 74. And the way to read this is 100 means that a family making the median income for the area can afford a median priced home. So it's a ratio of this median income here to the median priced home up above. And that's been falling over the years. A number below 100 means less affordable. Again, not surprising. Things are getting less and less affordable as prices go up and interest rates are up. 

So again, if you'd like me to run this for your area, I'm happy to do that. Just reach out by text or give me a call. This is the number where you can text me also or you can email me here. So I hope you enjoyed that. Have a great rest of your day. Once again, my name is RJ Baxter with Intercap Lending and thanks a lot. 

Learn More at: http://www.cohomesandloans.com

RJ Baxter
Intercap Lending
http://www.cohomesandloans.com
303-670-0137
baxterteam@intercaplending.com
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