Wheat Ridge, CO Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Wheat Ridge, CO Housing Market Trends

With 31,324 people, 14,080 houses or apartments, and a median cost of homes of $473,068, 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 52.12% of the city's housing units. Other types of housing that are prevalent in Wheat Ridge include large apartment complexes or high rise apartments ( 27.16%), row houses and other attached homes ( 10.99%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.59%).

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 59.18% of the city's housing hails from this era. Other housing ages represented in Wheat Ridge include homes built between 1970-1999 ( 29.19%) and housing constructed before 1939 ( 6.11%). There's also some housing in Wheat Ridge built between 2000 and later ( 5.52%).

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 101.30% over the last ten years, which is an average annual home appreciation rate of 7.25%, 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.

NeighborhoodScout's data show that during the latest twelve months, Wheat Ridge's appreciation rate, at 5.30%, has been at or slightly above the national average. In the latest quarter, Wheat Ridge's appreciation rate has been 2.00%, which annualizes to a rate of 8.24%.

Relative to Colorado, our data show that Wheat Ridge's latest annual appreciation rate is lower than 70% 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:
$473,068

Wheat Ridge, CO HOME PRICES

> $1,233,000
2.8%
2.8%
$925,001 - $1,233,000
1.6%
1.6%
$617,001 - $925,000
15.2%
15.2%
$493,001 - $617,000
22.9%
22.9%
$370,001 - $493,000
28.4%
28.4%
$246,001 - $370,000
21.3%
21.3%
$123,001 - $246,000
5.9%
5.9%
$62,001 - $123,000
0.7%
0.7%
$0 - $62,000
1.0%
1.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for CO

Value Relative To Nation

Number Of Homes And Apartments:
14,080

Wheat Ridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
127.26% 3.99%
9
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,623 / per month

Homeownership Rate

Owners
50.8%
50.8%
Renters
49.2%
49.2%
Vacant
4.2%
4.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.5%
5.5%
1970 - 1999
29.2%
29.2%
1940 - 1969
59.2%
59.2%
1939 or Older
6.1%
6.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
52.1%
52.1%
Townhomes
11.0%
11.0%
Small Apt. Buildings
9.6%
9.6%
Apt. Complexes
27.2%
27.2%
Mobile Homes
0.0%
0.0%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.0%
2.0%
1 Bedroom
12.7%
12.7%
2 Bedrooms
38.4%
38.4%
3 Bedrooms
29.9%
29.9%
4 Bedrooms
12.7%
12.7%
5 or more bedrooms
4.3%
4.3%
0.0% 100.0%
% OF HOMES