Zillow: Starter homes in these Colorado cities go for over $1M

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

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

Zillow attributed the rise in the cost of new homes to the housing shortage, which worsened over the pandemic.

States with the most million-dollar starting homes

Here are the states with the most starting homes over a million dollars:

On average, the Zillow report said that the typical starter home across the Denver area is worth $436,836, which is much steeper than the typical starter home nationwide, which is worth less than $200,000.

While the Denver area has more expensive starter homes than the average, three cities in particular are especially pricey.

According to Zillow, Colorado has three cities with million-dollar starter homes, all of which lie 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 cities in Colorado where million-dollar homes are the norm. Based on a Zillow study earlier this year, Colorado ranked sixth in the U.S. for the number of municipalities where the typical home value is more than $1 million .

In the entire Centennial State, Zillow counted 21 million-dollar cities, with Aspen, Cherry Hills Village and Bow Mar at the top of the list.

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