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Finding an excellent property manager requires a lot of research and time. Top-rated property management companies such as the Woodruff Real Estate and Property Management not only prioritizes protecting your real estate investment but also helps them grow.
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Here is everything you need to know about the housing market at zip code 80204.
80204 is a 6 square mile non-unique zip code type located within Denver metro area in northern Colorado. This zip code is found within 702 and 303 area codes and has about 34,098 residents.
The current stats translate to a population density of approximately 5,700 people per square mile.
According to Best Places rankings, 80204 is the 17th most diverse zip code in the Denver Area. Its population mainly comprises Hispanics and Whites, accounting for 53% and 36%.
The majority of the people living here are aged between 25 and 34, representing 22% of the local population. This data suggests that 80204 have more young adult population in most of its neighborhoods.
Unlike many other zip codes in the country, the 80204 economy is a mix of white-collar and blue-collar occupations. Most of the people living here work in the I.T industry, and nearly 10% of the local workforce often telecommutes.
According to data from the U.S. Bureau of Labor Statistics, the unemployment rate at 80204 is now at 5.1%. The current national unemployment rate is 6.7%.
Trailing a median household income of $55,322 nationally, the per capita income for a typical household of four in the 80204 zip code is $41,473. Further economic analysis reveals that about 36% of such households here have an income bracket of less than $25,000.
These financial estimates additionally equate to a median individual income of $24,483, meaning that about 63% of the working population in 80204 falls under the income bracket of less than $34,000 per individual.
Relative to the national individual income average of $27,419, the poverty rate in 80204 spiked to 28.9%. Factors such as the current economic downturn and the coronavirus pandemic generally led to an increase in the number of people living below poverty lines.
Both sales and income tax rates in 80204 slightly top the national averages by at least 30 basis points, its effective property tax rate is $4.59 per $1,000 home value.
According to the Best Places website, the effective U.S. property tax average rate is $11.78 per $1,000 home value.
The citizens of 80204 have an overall educational level that closely matches the national average. Given its very young population, most of the residents here have successfully attained a minimum of a high school diploma.
But it’s good to note that at least 20% of the local population are bachelor’s degree holders, which is a basis point higher than the national average.
With 69 public schools, 80204 shelters some of the best schools serving Denver County. Most of these schools typically have a student-teacher ratio of 19:1, and none surpasses a population size of more than 1,000 students.
There are at least three known private schools found within this zip code. These schools typically have an 11:1 student-teacher ratio, and more than 60% of their students usually proceed to attain a 4-year college education.
The 80204 zip code currently has 13,116 housing units, many of which were built between 1939 and the 1950s. Given its proximity to essential amenities, 66% of the 12,001 already occupied homes are rented while 34% are owner-occupied.
Zillow Home Value Index estimates the current median home value for a middle price-tier property in 80204 to be $474,402. Relative to the national average home value of $320,000, the 80204 real estate is competitive than most similar zip codes in America.
Surrounded by 12 distinct neighborhoods like Sun Valley, Lincoln Park, and Villa Park, 80204’s home value rose by 5.6% by the end of 2020 and is predicted to see a 10% growth through this year.
Studio apartments and 1-bedroom single-family detached homes are the most preferred house type in this zip code. With 66% rented properties in 80204, $2,022 was the average monthly rental price within the zip code by the end of December 2020, whereas that in Denver was $1,626.
In the last decade, the home appreciation rate within this zip code spiked to 111.6% and 8.2% for the past 12 months surpassing the national average of 6.7%. Apart from being among the top 40% best performing real estate within Colorado, the 80204 housing market has a steady record of accomplishment that makes it excellent for long-term and short-term investments.
The Best Places website estimates that this zip has a violent crime rate of 62.4 and a property crime rate of 73.3. Listed as the 5,390th best zip code to live in America, the Niche website further ranks 80204 as the 124th best zip codes to live in Colorado. Other factors such as the $1,074 monthly median housing cost and 4.59% property tax rate are why the housing market at 80204 booms all year round.
Contact any of our certified property managers now for more real estate insights and customized housing market help.
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.