Westminster, CO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Westminster, CO Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Westminster Housing Market Information

With a population of 112,812, 43,105 total housing units (homes and apartments), and a median house value of $374,407, real estate costs in Westminster are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Colorado communities.

Single-family detached homes are the single most common housing type in Westminster, accounting for 58.77% of the city's housing units. Other types of housing that are prevalent in Westminster include large apartment complexes or high rise apartments ( 26.57%), row houses and other attached homes ( 9.43%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.37%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westminster. Owner-occupied housing accounts for 65.21% of Westminster's homes, and 54.26% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Westminster built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Westminster built between 2000 and later ( 13.70%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.21%). There's also some housing in Westminster built before 1939 ( 1.22%).

Westminster Home Appreciation Rates

In the last 10 years, Westminster has experienced some of the highest home appreciation rates of any community in the nation. Westminster real estate appreciated 80.78% over the last ten years, which is an average annual home appreciation rate of 6.10%, putting Westminster in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Westminster definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Westminster's appreciation rate, at 4.39%, has been at or slightly above the national average. In the latest quarter, Westminster's appreciation rate has been -0.07%, which annualizes to a rate of -0.28%.

Relative to Colorado, our data show that Westminster's latest annual appreciation rate is lower than 80% of the other cities and towns in Colorado.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Westminster differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westminster - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Westminster real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$374,407

Westminster, CO HOME PRICES

Value Range
> $1,355,000 0.6
$1,016,001 - $1,355,000 1.1
$677,001 - $1,016,000 6.6
$542,001 - $677,000 10.0
$406,001 - $542,000 22.7
$271,001 - $406,000 35.4
$135,001 - $271,000 18.1
$68,001 - $135,000 1.8
$0 - $68,000 3.7

Average for CO
Very High for Nation

Value Relative to Nation Value Relative to State
12.6656934306569 40.4347826086956

Number Of Homes And Apartments:
43,105

Westminster Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
89.56% 3.38%
7
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,059 / per month

Homeownership Rate

Homeownership
Owners 65.21
Renters 34.79
Vacant 4.45

Housing Market Details

 

Age of Homes

AGE OF Westminster HOMES
2000 or Newer 13.7
1970 - 1999 71.9
1940 - 1969 13.2
1939 or Older 1.2

Types of Homes

TYPE OF Westminster HOMES
Single-Family 58.8
Townhomes 9.4
Small Apt. Buildings 3.4
Apt. Complexes 26.6
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Westminster HOMES
No Bedroom 1.31
1 Bedroom 12.42
2 Bedrooms 25.15
3 Bedrooms 33.79
4 Bedrooms 20.47
5 or more bedrooms 6.87