2023 Denver Profile of Home Buyers and Sellers | Report by NAR
NAR has put together an exclusive profile of home buyers and sellers in Denver. Download your report today.
Denver Stats at a Glance
Characteristics of Home Buyers
- The median age jumped this year to 49 years old, from 53 last year. The largest share of home buyers this year were in the 35 to 44 age group (21 percent) and the 25 to 34 age group (19 percent), followed by the 55 to 64 years age group at 18 percent. In Denver, the median age of recent home buyers was 43 years old. The largest share of home buyers in Denver this year were in the 25 to 34 years age group (27 percent) and the 35 to 44 years age group (25 percent).
- The median household income for 2022 rose this year to $107,000 compared to $88,000 in last year’s report. In Denver, buyers had a median income of $146,900.
- Fifty-nine percent of recent buyers were married couples, 19 percent were single females, ten percent were single males, and nine percent were unmarried couples. This is the lowest share of unmarried couples recorded. In Denver, 60 percent were married couples, 16 percent were single females, ten percent were single males, and ten percent were unmarried couples.
- First-time buyers made up 32 percent, up from last year’s 26 percent. In Denver, 34 percent were first-time buyers.
- Thirty-one percent of all buyers had children under the age of 18 living at home, the lowest share since 1981 but holding steady from 30 percent last year. In Denver, 27 percent buyers had children under the age of 18 living at home.
- Fourteen percent of home buyers purchased a multi-generational home, to take care of aging parents, because of children or relatives over the age of 18 moving back home, and for cost-savings. In Denver, that share was 11 percent.
- Eighty-one percent of buyers were White/Caucasian, seven percent were Hispanic/Latino, seven percent were Black/African-American, six percent were Asian/Pacific Islander, and six percent identified as other. In Denver, 82 percent of buyers were White/Caucasian, nine percent were Hispanic/Latino, two percent were Black/African-American, eight percent were Asian/Pacific Islander, and three percent identified as other.
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