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Buying your dream home, putting the one you own on sale, or merely exploring your property's rental options requires plenty of research and up to date knowledge about specific markets. Collaborating with top-rated property and real estate management firms not only helps you save time but also protect and grow your real estate investment.
The Woodruff Real Estate and Property Management Agency is a top-performing real estate company that comprises top-rated property managers in America. Some of its main accomplishments in the industry include processing of 18,882+ work orders since April 2009.
Here is everything you need to know about the housing market at zip code 80218.
The zip 80218 is a lower-middle-class zip code located in Denver, Colorado. It is a Non-Unique code and is found within the 720/303 area codes.
Covering about 1.60 square miles, 80218 is one of the smallest zip codes in Colorado. Zip 80218's population is 19,129 individuals and an average population density of 11,202 people per square mile.
Its ethnic makeup consists of 81% Whites, 10% Hispanics, 5% African Americans, and 3.3% non-citizens.
The median age here is 33.9, and the average number of people per household in 80218 is 1.6. Close to 28% of the residents are married, and a cumulative of 38% have children.
The Niche highlights that zip 80218 has a poverty rate of 13.1% and an unemployment rate of 3.9%. According to the recent U.S. Bureau of Labor Statistics report, these are comparatively lower since the national average is 10.5% for the poverty rate and 6.7% for unemployment.
The cost of living index for 80218 is 132.8, higher than the U.S. average. This difference shows that the 80218’s economy is thriving.
The zip has a median individual income of $43,942 and a median household income of $62,923. The national median income averages are $27,419 and $55,322 for both individual and household incomes. These medians equate to about 58% of the residents earn over $35,000, and 74% of these households get more than $45,000 each year.
Job markets in 80218 increased by 2.8% last year, and it's set to continue growing at a pace of 45% for the next decade.
80218 has a sales tax rate of 7.7%, an income tax rate of 4.8%, and an effective property tax rate of $5.06 per $1,000 home value. The U.S. property tax average rate is $11.78 per $1,000 home value.
At least 61% of the local workforce in 80218 commutes to work, and it takes them an average of 22.5 minutes for a one-way commute. 9.2% of the population work from home.
Out of the 278 schools in 80218, 215 are public schools, and 63 are private. These schools typically have a student-teacher ratio of 16:1, and zip 80218 generally spends a minimum of $12,637 per student.
About 78% of all the adults in 80218 have a minimum of a bachelor's degree. The national average is 31%.
Based on the available house stock, closeness to essential amenities, and population density, zip 80218 generally has an urban feel. With only 12,227 housing units in the zip code, 67% of the houses are rent-occupied, and 33% are owner-occupied.
Close to 86% of the currently available listings are valued beyond $200,000, bringing the zip's median home value to $386,600. The national median home value in the U.S. is $295,300.
According to rate.com, homes sold for $1,262,500 as of January and spent a minimum of 75 days in the marketplace. The current homeowner vacancy rate in 80118 is 0.8%, and 4.9% is its rental vacancy rate.
Zip 80218 has an overall median rent price of $1,120 per month. At least 62% of the renters pay a monthly rent of more than $1,000. The national median rent has dropped to $949.
Single-family houses are the most dominant home types in zip code 80218, and the most preferred home size in 80218 are two to four-bedroom apartments.
Real estate in 80218 appreciated at a pace of 6.5% for the last ten years. This rate indicates that the housing market in zip code 80218 is perfect for long-term real estate investment.
Niche.com ranks zip 80218 as the 499th best zip codes to live in America, 91st best zip code for families in Colorado, and 57th best zip code with top-rated public schools in Denver Area.
Zip 80218 gets an average of 83 days of precipitation and about 245 days of sun per year. The most pleasing months in 80218 include June, August, and September. January and December aren't usually very cozy.
Summer highs usually occur in July, with temperatures reaching up to 890C and drops to 190C during winter in January. The overall annual comfort index by Best Places for 80218 is 7.3/10.
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.