Wheat Ridge, CO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Wheat Ridge Neighborhoods Since 2000




Wheat Ridge, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Wheat Ridge Housing Market Information

With 31,192 people, 13,978 houses or apartments, and a median cost of homes of $353,487, real estate costs in Wheat Ridge 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 Wheat Ridge, accounting for 53.80% of the city's housing units. Other types of housing that are prevalent in Wheat Ridge include large apartment complexes or high rise apartments ( 25.51%), row houses and other attached homes ( 11.67%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.84%).

People in Wheat Ridge primarily live in small (one, two or no bedroom) single-family detached homes. Wheat Ridge has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Wheat Ridge's housing was primarily built during this period, from the '40s through the '60s. A full 60.08% of the city's housing hails from this era. Other housing ages represented in Wheat Ridge include homes built between 1970-1999 ( 28.90%) and housing constructed before 1939 ( 6.85%). There's also some housing in Wheat Ridge built between 2000 and later ( 4.18%).

Wheat Ridge Home Appreciation Rates

In the last 10 years, Wheat Ridge has experienced some of the highest home appreciation rates of any community in the nation. Wheat Ridge real estate appreciated 53.53% over the last ten years, which is an average annual home appreciation rate of 4.38%, putting Wheat Ridge in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Wheat Ridge definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Wheat Ridge that despite a nationwide downturn in the housing market, Wheat Ridge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wheat Ridge appreciation rates continue to be some of the highest in America, at 11.92%, which is higher than appreciation rates in 97.34% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wheat Ridge. Wheat Ridge appreciation rates in the latest quarter were at 2.55%, which equates to an annual appreciation rate of 10.59%.

Importantly, this makes Wheat Ridge one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Colorado, our data show that Wheat Ridge's latest annual appreciation rate is higher than 90% 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 Wheat Ridge differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wheat Ridge - 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 Wheat Ridge real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$353,487

Wheat Ridge, CO HOME PRICES

Value Range
> $1,426,000 0.2
$1,070,001 - $1,426,000 0.5
$713,001 - $1,070,000 4.5
$570,001 - $713,000 4.6
$428,001 - $570,000 22.4
$285,001 - $428,000 37.3
$143,001 - $285,000 25.5
$71,001 - $143,000 2.5
$0 - $71,000 2.5

High for CO
Very High for Nation

Value Relative to Nation Value Relative to State
11.9301535216219 32.7510917030568

Number Of Homes And Apartments:
13,978

Wheat Ridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
78.37% 3.41% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,241 / per month

Homeownership Rate

Homeownership
Owners 51.20
Renters 48.80
Vacant 5.85

Housing Market Details

 

Age of Homes

AGE OF Wheat Ridge HOMES
2000 or Newer 4.2
1970 - 1999 28.9
1940 - 1969 60.1
1939 or Older 6.9

Types of Homes

TYPE OF Wheat Ridge HOMES
Single-Family 53.8
Townhomes 11.7
Small Apt. Buildings 8.8
Apt. Complexes 25.5
Mobile Homes 0.1
Other 0.1

Home Size

SIZE OF Wheat Ridge HOMES
No Bedroom 1.70
1 Bedroom 13.79
2 Bedrooms 39.32
3 Bedrooms 27.62
4 Bedrooms 12.96
5 or more bedrooms 4.61