Home Prices Expected to Exceed $1 Million in Two Colorado Cities

Home prices in the state of Colorado have been on an upward trend for quite some time. Soon, some Colorado cities could have median home prices well into the million-dollar range.

According to KDVR, there are a handful of cities in the United States where median home prices will either reach or exceed the $1 million price point within the next decade. Places like Seattle, Washington, Portland, Oregon, and Boston, Massachusettes are all on the list and so are two Colorado cities.

Colorado Cities That Could See $1 Million Home Prices by 2033

Denver, Colorado, is one of the most desirable cities to live in the United States. Situated at the base of the Rocky Mountains, Denver has been long regarded as the perfect place for those who love the outdoors, yet want a big city to call home. In 2023, Denver's median home price was $547,000. By 2028, the expected median home price in the Mile High City could reach $842,000 and the projected median home price in 2033 is $1.29 million.

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Colorado Springs, Colorado, is another city on the list with explosive median home prices. In 2023, the median home price in Colorado Springs was $547,000. Projections are showing a median home price in the Southern Colorado city to be $680,000 in 2028 and $1 million in 2033.

RELATED: MEDIAN HOME PRICES IN NORTHERN COLORADO

According to KDVR, these two Colorado cities have some of the highest projected growth in the United States over the next ten years. While Colorado does have one of the highest median salaries in the country at $66,000, it would take someone over 15 years of saving their entire paycheck to purchase a home in the median price range in either Colorado Springs or Denver in 2023.