How much money you need to make to own a home in Denver

In 2020 a $101,365 income was enough to own a home in Denver. But according to a recent Zillow report that number has increased by 70.5%. Today you need to make $173,000 to afford s home in Denver. Assuming a 10% down payment, Zillow says that mortgage payments have increased 85.5% over the last four years to $3,615 monthly. According to the Common Sense Institute of Colorado, homeowners in Denver 114 hours to pay a mortgage in 2023, up 172.3% from 42 hours required to pay a mortgage in 2013. While the cost of owning a home in Denver has increased by 18% since 2022, Wages have only increase by 6%.