DENVER (KDVR) — Experts crunched the numbers and found that almost anywhere in the Denver area is a less expensive home buy than in Denver itself.
Point2Homes, a real estate analysis firm, compared the median prices of homes in the 20 most expensive real estate markets to the prices for their immediately surrounding suburbs. Suburbs are cheaper in most instances. Among 777 suburbs, 603 were cheaper than the city they surround.
In Denver, 80% of the surrounding suburbs offer cheaper prices 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.
In Cherry Hills Village, a median priced home costs $206 per square foot more than Denver itself.
Southern suburbs offer the biggest savings in the Denver metro.
Denver area homeowners looking for the cheapest suburban option 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 $148 less, Parker $148 less and Castle Pines $140.
The closer to Denver, the lower the savings. Federal Heights, Englewood and Wheat Ridge offer $17, $27 and $34 per square foot’s worth of savings, respectively.