Denver skyline panorama at dusk.
DENVER (KDVR) – Experts have crunched the numbers and found that almost anywhere in the Denver area is buying less homes than in Denver itself.
Point2Homes, a real estate analysis firm, compared the average price of homes in the 20 most expensive real estate markets to the prices of their immediate surrounding suburbs. Suburbs are cheaper in most cases. Of the 777 suburbs, 603 were cheaper than the surrounding city.
In Denver, 80% of the surrounding suburbs offer the cheapest price per square foot. Only nine of the 43 cost more: Cherry Hills Village, West Pleasant View, Edgewater, Glendale, Golden, Greenwood Village, Louisville, Lafayette and Superior.
A median-priced home in Cherry Hills Village costs 206 square feet more than Denver itself.
The South Suburbs offer the biggest savings in the Denver metro area.
Denver-area homeowners looking for the cheapest suburban options have their best bet in Firestone, where home prices are $152 less per square foot than in Denver. Castle Rock is $150 less, Commerce City is $148 less, Parker is $148 less and Castle Pines is $140 less.
The closer to Denver, the lower the savings. Federal Heights, Englewood, and Wheat Ridge offer cost savings of $17, $27, and $34 per square foot, respectively.