The analysis from Zillow Group Inc. and RocketMortgage was based on current median home values, interest rates and an assumed 10% down payment.
DENVER — Mortgage rates have been dropping in recent weeks, but that’s only slightly improving affordability in many Denver area neighborhoods.
>The above video is from Dec. 18.
The Denver metro area has 11 ZIP codes where it takes at least $200,000 to afford a median-priced home, according to an analysis of data from Zillow Group Inc. and RocketMortgage by The Business Journals. Four of those locations are in Douglas County.
The analysis was based on current median home values, interest rates and an assumed 10% down payment.
Housing affordability has emerged as a critical issue in metros around the nation as home prices have surged over the past decade and inventory has been limited. Rising interest rates — a function of the Federal Reserve’s efforts to fight inflation — have only added to the challenges, especially for young homebuyers.
That’s evident in several local ZIP codes, where the price to buy in the neighborhood has reached lofty heights.
> Read the full article at the Denver Business Journal.
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