Denver’s most compelling residential areas have something more appealing—and more meaningful—than uncertain appreciation values: They offer a true sense of community.
Renting vs. Owning
Which way should you go?
Most economists agree that deciding whether to rent or buy should be based on factors such as how quickly home prices and rents are rising, and how long you plan to stay in a home if you do buy. Denver’s rent ratio—the purchase price of a house divided by the annual rent of a similar house—went from 25.6 in 2005 to 22.5 in 2009. (A ratio around 15 or lower is considered to be pro-buyer, and anything above 20 is pro-renter.) So unless you’re planning to stay here awhile, renting might not be a bad option. The New York Times offers an easy-to-use calculator that helps you figure out what will best fit your needs: nytimes.com/interactive/business/buy-rent-calculator.html