The Denver housing market has found a floor for now. As of July 31, 2026, the Zillow Home Value Index for the Denver, CO metro was $558,732, down 2.3% from $571,645 a year earlier but unchanged from June [1]. Typical rents slipped 0.9% to $1,924, active inventory of 15,666 homes was 5.8% lower than in July 2025, and 35% of listings carried a price cut [1]. With the 30-year fixed mortgage rate at 6.65% in the week ending August 20, 2026, the principal-and-interest payment on the typical Denver home is about 4% lower than a year ago, though Denver remains one of the most expensive metros in the interior of the country [2].
Denver housing market: have home values stopped falling?
The month-to-month data suggest so. The metro-wide typical home value (all homes, smoothed and seasonally adjusted) was $558,732 in July 2026, compared with $558,821 in June 2026 and $571,645 in July 2025 [1]. The 12-month decline of 2.3% therefore happened almost entirely in the second half of 2025, and values have been flat through the spring and summer selling season.
The segments diverge. Single-family values fell 2.1% to $584,319, the bottom third of the market fell 3.3% to $393,254, and the top third fell 1.7% to $845,066 [1]. Condos remain the weakest segment, down 5.7% to $303,152 from $321,360 as association fees and insurance costs climb [1]. The median sale price moved up to $595,000 in July 2026 from $578,000 in July 2025, a 2.9% rise that reflects a sales mix tilted toward larger single-family homes [1].
What a buyer pays each month
Zillow's estimated principal-and-interest payment on the typical Denver home with 20% down was $2,838 in July 2026, down 4.0% from $2,957 in July 2025 [1]. Including taxes and insurance, the total monthly payment with 20% down was $3,603, versus $3,721 a year earlier [1]. Colorado's low effective property tax rates keep the gap between those two figures narrow. The national 30-year fixed rate averaged 6.65% in the week ending August 20, 2026, compared with 6.58% in the same week of 2025, so the relief came from lower prices rather than cheaper credit [2].
Denver rents and rent yield in 2026
Rents are soft. The Zillow Observed Rent Index for all homes and apartments in the Denver metro was $1,924 in July 2026, 0.9% below the $1,941 of July 2025 [1]. Single-family rents rose 1.3% to $2,981, while apartment rents fell 1.9% to $1,775 as the metro absorbed one of the largest multifamily construction pipelines in its history [1].
The gross rent yield on a typical single-family home is about 6.1%: twelve months of rent at $2,981 equals $35,773 against a typical single-family value of $584,319 [1]. What sets Denver apart is the tax bill. DataPorium's property tax data shows a median effective rate of 0.55% across most City and County of Denver ZIP codes, including 80209 (Washington Park), 80206 (Cherry Creek) and 80219 (Westwood), 0.51% in 80113 (Englewood and Cherry Hills Village) and 0.69% in 80013 (Aurora) [4]. At roughly half a percent, property tax consumes less than a tenth of gross rent, so Denver's net yield is closer to its gross yield than in Texas or Florida, where taxes run two to three times higher.
Inventory, days on market and price cuts
Supply peaked last year. Active for-sale inventory was 15,666 homes in July 2026, down 5.8% from 16,635 in July 2025, after climbing from 10,589 in February through the normal spring build [1]. Homes are moving quickly: the median listing took 21 days to go pending in July 2026, three days faster than a year earlier and far quicker than the 50 days recorded in January [1]. Sellers are still adjusting, with 35% of listings showing a price cut in July, down from 38% in July 2025 [1]. Zillow's market heat index read 52 in July 2026, two points above a year earlier but well below the 64 recorded in February, which describes a balanced market that cooled as inventory rebuilt [1].
- Active listings: 15,666 in July 2026, versus 16,635 in July 2025 [1]
- Median days to pending: 21, versus 24 a year earlier [1]
- Share of listings with a price cut: 35%, versus 38% a year earlier [1]
- Median sale price: $595,000, versus $578,000 a year earlier [1]
Which Denver ZIP codes are the most and least expensive?
The Denver metro spans Denver, Arapahoe, Adams, Jefferson, Douglas and Broomfield counties, and prices fall steadily from the central and southeastern neighborhoods toward the northern and eastern suburbs. The table shows Zillow's smoothed typical home value by ZIP code for July 2026 with the median effective property tax rate for each area from DataPorium [1][4].
| ZIP code | Area | Typical home value, July 2026 | Median effective property tax |
|---|---|---|---|
| 80209 | Washington Park, Bonnie Brae | $949,014 | 0.55% |
| 80111 | Greenwood Village | $885,451 | 0.58% |
| 80206 | Cherry Creek, Congress Park | $839,011 | 0.55% |
| 80113 | Englewood, Cherry Hills Village | $628,102 | 0.51% |
| 80013 | Aurora (southeast) | $459,281 | 0.69% |
| 80229 | Thornton | $416,645 | 0.51% |
| 80219 | Denver (Westwood, Harvey Park) | $414,808 | 0.55% |
| 80010 | Aurora (north) | $388,899 | 0.70% |
The most expensive ZIP in the sample, 80209 around Washington Park, is worth almost two and a half times the least expensive, 80010 in north Aurora [1]. Investors can compare these and every other ZIP on DataPorium's housing market data, which carries Zillow values, rents and inventory at the state, metro, city and ZIP levels [1].
Population, income and what it means for buyers and investors
Demand growth has slowed. The Census Bureau estimates the Denver-Aurora-Centennial metro population at 3,092,037 as of July 2025, up only 10,945 from 3,081,092 in 2024 and 3.8% above the 2,978,802 of 2021, a much slower pace than the Sun Belt metros [3]. Inside the city of Denver, the 2024 American Community Survey shows a median household income of $94,718, up from $72,661 in 2020, with a population of 718,877 and a homeownership rate of 48.8% [4]. A 30% rise in city incomes over four years while home values have been flat is a large improvement in affordability that required no policy intervention.
Denver is a high-priced market where slow population growth and abundant new apartments have capped rents, but where very low property taxes keep the math for long-term owners better than the headline yield suggests.
For buyers, the practical reading is that 35% of sellers have cut their price and values have stopped falling, which makes the second half of 2026 a reasonable entry point for households planning to stay five years or more [1]. The counterpoint is that condo values are still declining and rents are soft, so buyers who may need to rent out a property should model flat rent. For investors, a 6.1% gross single-family yield with a 0.55% property tax rate is competitive with higher-yield metros once taxes are netted out, though slow population growth limits the upside from rent growth [1][4]. Zillow's rolling 12-month home value forecast for the metro is updated each month and shown beside the current values on the DataPorium market page [1]. Property-level detail is available through DataPorium's real estate module [4].
Key takeaways
- Denver's typical home value was $558,732 in July 2026, down 2.3% year over year but unchanged from June [1].
- Condo values fell 5.7% to $303,152, while single-family values fell 2.1% to $584,319 [1].
- Typical rent fell 0.9% to $1,924, and the gross single-family rent yield is about 6.1% with property taxes near 0.55% [1][4].
- Inventory of 15,666 homes is 5.8% below a year ago; 35% of listings had a price cut and the median time to pending was 21 days [1].
- Metro population reached 3,092,037 in 2025, and the 30-year mortgage rate was 6.65% in late August 2026 [2][3].
Frequently asked questions
Are home prices dropping in Denver in 2026?
They have leveled off. The Zillow Home Value Index for the Denver metro was $558,732 in July 2026, 2.3% below July 2025 but unchanged from June, with condos down 5.7% and single-family homes down 2.1% [1].
What is the average rent in Denver in 2026?
The typical asking rent across all homes and apartments in the Denver metro was $1,924 per month in July 2026, down 0.9% from a year earlier; the typical single-family rental was $2,981 [1].
Is Denver a buyer's market right now?
It is balanced: about 15,700 active listings, a 21-day median time to pending, 35% of listings with a price cut and a market heat index of 52 in July 2026 [1].
What is the most expensive ZIP code in Denver?
Among the ZIPs reviewed, 80209 (Washington Park) had the highest typical home value at about $949,000 in July 2026, followed by 80111 (Greenwood Village) at about $885,000 [1].
Sources & References
- [1] DataPorium Housing Market Insights (Zillow ZHVI, ZORI, inventory and market data)
- [2] Freddie Mac via FRED: 30-Year Fixed Rate Mortgage Average in the United States (MORTGAGE30US)
- [3] U.S. Census Bureau via FRED: Resident Population in Denver-Aurora-Centennial, CO (MSA) (DNVPOP)
- [4] DataPorium Real Estate: property tax, demographics and neighborhood data
