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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 80220.
The zip 80220 is a middle-class zip code found in both Denver and Aurora. It is a Non-Unique code found within the 720/303 area codes.
Covering about 5.24 square miles, zip 80220 has a smaller landmass than other zip codes in America. Zip 80220 hosts about 35,999 individuals and an average population density of about 6,397 people per square mile.
Its ethnic makeup consists of 68% Whites, 13% Hispanics, 10% African Americans, and 7.8% non-citizens.
The median age here is 36.3, and the average number of people per household in 80220 is 2.3. Close to 46% of the residents are married, and a cumulative of 52% have children.
Niche highlights zip 80220's poverty rate as 11.3% and the unemployment rate as 3%. 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 80220 is 143.6, higher than the U.S. average. This difference suggests that the 80220’s economy is thriving.
The zip has a median individual income of $44,218 and a median household income of $78,773. The national median income averages are $27,419 and $55,322 for both individual and household incomes. Further analysis indicates that 20% of the residents here earn less than $25,000, and about 17% of households in 80220 earn below $25,000 per year.
Job markets in 80220 increased by 2.8% last year, and this might continue growing at a pace of 45% for the next decade.
Zip 80220 has a sales tax rate of 7.7%, an income tax rate of 4.8%, and an effective property tax rate of $5.15 per $1,000 home value. The U.S. property tax average rate is $11.78 per $1,000 home value.
At least 69% of the local workforce in this zip commutes to work, and it usually takes them an average of 25.4 minutes for a one-way commute. 9.1% of the population remotely works from home.
Zip 80220 has 78 public schools and eight private schools within its borders. These schools typically have a student-teacher ratio of 16:1, and zip 80220 generally budgets to spend at least $12,637 per student.
Sixty-three percent of all the adults residing in 80220 have a minimum of a bachelor's degree. The national average for first-degree holders is 31%.
Based on the available house stock, closeness to essential amenities, and population density, zip 80220 generally has a blended urban-suburban feel. With 16,421 housing units, 41% of the houses in zip code 80220 are rent-occupied. Fifty-nine percent of the residences are owner-occupied.
Only 1% of the currently available listings are valued below $50,000, bringing the zip's median home value to $465,500. The national median home value in the U.S. is $295,300.
According to rate.com, homes sold for $795,000 as of January 2021 and spent a minimum of 45 days in the marketplace. The current homeowner vacancy rate in 80220 is 0.6%, and 2.1% is its rental vacancy rate.
Zip 80220 has an overall median rent price of $1,154 per month. Thirty-eight percent of the renters pay a monthly rent of less than $1,000. The national median rent has dropped to $949.
Single-family houses are the most dominant home types in zip code 80220, and the most preferred home size in this zip are two to four-bedroom apartments.
Real estate in 80220 appreciated at a yearly pace of 9.0% for the last ten years. This rate indicates that this particular housing market is perfect for long-term real estate investment.
Niche.com ranks zip 80220 as the 773rd best zip code to live in America, 47th most diverse zip code in Colorado, and 36th best zip code for families in Denver Area.
Zip 80220 gets an average of 83 days of precipitation and about 245 days of sun per year. The most pleasing months in 80220 include June, August, and September.
January and December aren't usually very comfortable.
Summer highs of 890C in July and averages of up to 190C during the winter season in January. The overall annual comfort index by Best Places for 80220 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.