The Colorado Housing Market: Do Condos Retain Their Value in Denver?

Condos are somewhat of a puzzle for many investors. While they are smaller and easier to manage, they are also less valued in some markets. Renting a condo can be profitable, but just buying, renovating and selling one doesn’t make a lot of sense in places where their resale value and equity isn’t that high. 

Fortunately, Colorado isn’t such a place. Here, and especially in the steadily growing city of Denver, condominiums have excellent appreciation over time, and the rental prices are extremely high. Renting a condo in some parts of Denver can easily compete with places like New York City or Miami, so you’ll find that condos are instantly profitable.

The value you’ll get if you buy a condo and keep it for a while – regardless of whether you rent it out or live in it – is quite substantial. For instance, from 2017 to 2018, the median price of condominiums has grown by more than 3% countrywide, and in Denver that value was much higher, with many condos increasing their price to over the $400k mark. 

As a result, Team Front Range realtors tell us that it makes a lot of sense to invest long term in the Denver housing market. Even though some would say that single family homes are actually more profitable, many experts recommend condominiums, as they can be managed and used as rental properties easier than a more expensive single family house.