Zillow: Starter Homes in These Colorado Cities Cost More Than $1 Million

DENVER (KDVR) — Colorado has plenty of cities where the median home value is over $1 million, but for three cities in metro Denver, it’s considered “normal” for starter homes to be in the seven figures, according to a new report from Zillow.

According to Zillow, there are 237 cities in the county where the typical starter home is worth $1 million or more. To put that in perspective, five years ago there were only 84 cities.

According to Zillow, the increase in home prices is due to the housing shortage, which has increased due to the pandemic.

States with the most million-dollar starter homes

These are the states with the most million-dollar-plus starter homes:

According to the Zillow report, the average starter home in the Denver area is worth $436,836. That’s much more expensive than the average starter home nationwide, which is worth less than $200,000.

While the Denver area has more starter homes than average, there are three cities that are particularly expensive.

According to Zillow, there are three cities in Colorado with million-dollar starter homes, all of which are in the Denver metro area: Cherry Hills Village (typical starter home $2,156,940), Bow Mar ($1,609,515) and Columbine Valley ($1,233,977).

These aren’t the only Colorado cities where million-dollar homes are the norm. Based on a Zillow survey earlier this year, Colorado ranked sixth in the U.S. for the number of communities where the typical home value is over $1 million.

Across the Centennial State, Zillow counted 21 cities with million-dollar sales, with Aspen, Cherry Hills Village and Bow Mar topping the list.