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Here is everything you need to know about the housing market at zip code 80016.
Zip 80016 has an area of1.21 square miles and is mainly found in Aurora but extends to Denver, Centennial, and Fox field. Zip 80016 shelters 54,651 people and has a lower population density of about 877 individuals per square mile.
Its local racial makeup mostly consists of 72% Whites, 9% Asians, 8% Hispanics, and 7% African Americans.
More than 70% of the people living in zip code 80016 are over 25 years old, bringing the zip’s median age to an average of 37.2 years.
With only 14,607 occupied housing units, the average number of people per household in zip code 80016 is 2.9. That’s slightly higher than the national average of 2.6 people per household.
64.9% of the people living here are married, and about 57% of the overall population have children. This breakdown indicates that zip 80016 is more family-friendly than most of the surrounding zips.
The Best Places website caps the average cost of living in 80016 at 144.7 compared to a national average of 100. The average individual income in this zip is $50,262, and its median household income is $117,068 per year.
The unemployment rate in this zip code is at 2%, but the job market in 80016 increased by 2.8% in 2020. Prospects expect the job market here to continue growing at a pace of 42.5% in the next ten years relative to the 33.5% national estimate.
This zip has a sales tax rate of 8.0%, an income tax rate of 4.7%, and an effective property tax rate is $8.51 per $1,000 home value. The median U.S. property tax average rate is $11.78 per $1,000 home value.
More than 80% of the locals usually drive to work, and the average one-way commute in 80016 is 29.5 minutes. The national average for a one-way commute is 26.4 minutes.
Zip 80016 has 45 public schools and seven private schools. The zip generally spends $10,029 per student, and the average student-teacher ratio in these schools is 18:1.
Approximately 56% of the people living in this zip hold a minimum of a bachelor’s degree, nearly doubling the national average. Other estimates include a student-librarian ratio of 1,384:1 and a student-counselor ratio of 654:1.
Zip 80016 is widely known for its blended dense suburban area to feel. The residential market in this zip is dominated by 78% owner-occupied properties and 22% rent-occupied homes.
The median home value in 80016 is $474,600, meaning that only 3% of the current listings have a property value of less than $200,000. The current national home value estimate is $184,700.
According to Niche, $1,565 is the median rent price in 80016. $949 is the national rent median. Further rent analysis suggests that only 1% of the local renters in zip code 80016 are currently paying a monthly rent of less than $1,000.
Redfin.com caps the asking price for a 2-bedroom listed apartment at $350,000, a 13.3% increase from last year. The housing market in zip code 80016 is experiencing a shortage of 57.1%homes for sale. The current median sales price is $595,000, and the median list price in zip code 80016 is $645,000.
The median age of the real estate in zip code 80016 is 37.2 years.
Based on the remaining 22% housing units left for renting and above-average real estate costs, the 80016 housing market is lucrative for high-end investments.
Single-family detached homes are the most prevalent residential types in this zip code.
Realtor.com shows that zip 80016 has about 364 active listings whose median list price is $580,000 and mainly includes single-family homes with more than two bedrooms.
The median home closed sale price in 80016 is $532,000, and the annual real estate appreciation rate for houses within this zip was 5.8% for the last ten years. At this pace, 80016 guarantees a steady stream of returns of interest for interested home investors.
With an annual comfort index of 7.3/10, both January and July are the only months that 80016 experiences extreme temperatures of 180 and 890. The rest of the year is pleasant, but you should note that this zip gets a yearly average of 245 sunny days and about 83 days of precipitation. Zip 80016 generally ranks as the 627th best zip code for families in the U.S., 25th best zip code to live in Colorado, 5th zip code with the best public schools in Denver Area, and 5th best zip code to buy property in Arapahoe County.
We don't charge any up front fees. Not even a "Non-Refundable Set-Up Fee." If we don't perform, you don't pay. There are no "hidden fees" in our contracts.
Over 85% of renters now find their next home online. We post your property to over 200 web-sites and 150 media sites. More advertising means less time on the market and more money in your pocket.
All our contracts, leases, and documents are signed digitally. Tenant and Owner On-line Portals allow 24/7 access to all invoices, documents, statements, reports, and financials.
When the tenant prospects need to see the rentals. Our competition shows during normal business hours.
We are so confident in our Tenant Qualification Process that, if we have to evict a tenant we qualified and moved into a property we manage, we find a new tenant at no cost (we will not charge a leasing fee). This is a FREE service, not an "Eviction Protection Plan."
We use ACH direct deposit to collect rent and pay our owners so we can pay you up to 10 days faster than our competition… in time for your mortgage payment. We don’t start you out a month behind on paying your mortgage.
The National Average is only 60% returned / answered calls. Our voicemail will never say: “We will get back to you within 48 hours”
We ask for approval on all work orders so you don’t get surprised when you receive your statement. We don’t have an in-house maintenance staff that we pay $15 per hour and bill out at $50 per hour. Rather, we use our buying power to get discounts of 10-50% from our Preferred Vendors… and pass that savings directly on to you. We don’t have hazy language in our contracts that allow us to mark up any invoice for any amount at our discretion.
We are trained professionals who know how to negotiate and facilitate the rental process. We will get the highest possible rent for you, and, as an added bonus, you get the benefit of our years of real estate experience and accumulated knowledge.