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Average Home Values and Ownership in Zip Code 80137: A Decade of Resilience in Aurora's Housing Market
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Zip code 80137, located in Aurora, Colorado, has experienced significant growth and changes in its housing market over the past decade. This area has seen a steady increase in population, rising from 2,495 in 2010 to 4,948 in 2022, nearly doubling in size. The ownership percentage has remained relatively stable, while average home prices have shown a consistent upward trend. Average rent prices have fluctuated but generally increased over time.
The homeownership rate in zip code 80137 has remained relatively high, fluctuating between 76% and 85% from 2013 to 2022. Interestingly, the average home prices have shown a consistent upward trend during this period. In 2013, the average home price was $278,407, which steadily increased to $639,786 by 2022, representing a substantial 130% increase over nine years. Despite this significant rise in home prices, the homeownership rate remained relatively stable, suggesting a strong desire for homeownership in this area.
Federal interest rates have played a role in homeownership trends. From 2013 to 2016, when interest rates were exceptionally low (between 0.09% and 0.40%), the homeownership rate in the zip code remained above 76%. As interest rates began to rise from 2017 (1.00%) to 2019 (2.16%), there was a slight increase in homeownership, reaching 81% in 2019. This suggests that residents in this area may have been motivated to purchase homes before interest rates potentially increased further.
Renter percentages in zip code 80137 have shown some fluctuation but generally remained between 17% and 22% from 2013 to 2022. The average rent prices have also fluctuated during this period. In 2013, the average rent was $1,760, which peaked at $1,941 in 2015 before declining to $1,317 in 2016. Since then, average rent prices have generally trended upward, reaching $1,595 in 2022. The population growth from 3,224 in 2013 to 4,948 in 2022 likely contributed to the overall increase in rental demand and prices.
In 2023 and 2024, the housing market in zip code 80137 experienced some changes. The average home price slightly decreased from $639,786 in 2022 to $612,579 in 2023, showing a minor correction in the market. However, in 2024, the average home price rebounded slightly to $614,042. Concurrently, federal interest rates rose significantly, reaching 5.02% in 2023 and 5.33% in 2024, which could impact homebuying affordability and potentially influence the rental market.
Looking ahead, based on historical trends and current market conditions, we can expect the following five-year trends for zip code 80137: Average home prices are likely to continue their overall upward trajectory, albeit at a more moderate pace. We may see prices reach around $700,000 to $750,000 by 2029. Average rent prices are expected to follow a similar pattern, potentially increasing to around $1,800 to $2,000 per month by 2029. The homeownership rate is likely to remain relatively stable, possibly fluctuating between 75% and 85%, depending on economic conditions and interest rates.
In summary, zip code 80137 in Aurora, Colorado, has demonstrated resilience in its housing market. Despite significant increases in average home prices, the area has maintained a high homeownership rate. The rental market has shown more volatility but generally trends upward. The interplay between population growth, interest rates, and housing prices will continue to shape this market in the coming years, with a general expectation of continued growth and stability.
