Business

Denver Neighborhoods That Give Homebuyers Best Bang for Their Buck

young.family.house.thinkstock.large.jpg
Thinkstock
A recent study determined that home affordability in Denver was the second-worst in the country. But new data shows that consumers who otherwise might not be able to purchase a home in the area can still do so if they look in one of nine Denver neighborhoods that offer the best bang for their buck.

"The 9-to-5 Compromise: What We Save by Moving 15 Minutes Farther From Work," a report from Zillow Research, examines the pros and cons of trading a longer commute downtown for a lower home price in 34 major American housing markets, including Denver.

The breakdown of Denver stats reveals that significant savings can be realized by moving into outlying areas — also known as the suburbs.

The median home price in Denver less than fifteen minutes from downtown is $487,262, according to Zillow Research stats. That total drops to $420,338 for homes that require a commute of between fifteen and thirty minutes, and $397,025 for a commute of thirty to 45 minutes.

But all Denver neighborhoods aren't created equal.

The nine Denver-metro zip codes said to offer the best value for home buyers willing to spend a little extra time in the car are predominantly in the northern ’burbs. Westminster, Broomfield, Thornton, Northglenn and Henderson are all represented.

Also highlighted are zip codes pertaining to Harvey Park, Fort Logan and Deer Trail, a community east of Denver International Airport. Homes in the latter can actually be had for under $250,000 — a rarity these days.

Continue to see the top nine neighborhoods, complete with median home prices, average commute times to downtown and accompanying maps.