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Denver, CO

It was already tough, but a jump in mortgage rates and higher home prices are making it even harder to buy a home in metro Denver.

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It was already tough, but a jump in mortgage rates and higher home prices are making it even harder to buy a home in metro Denver.


Builders are finally making a dent in the state’s housing shortfall, especially for apartments. But home prices and mortgage rates continue to outpace income gains, and affordability is worsening rather than improving.

“The story with interest rates is that they are only exacerbating the problem,” said Steven Byers, chief economist with the Common Sense Institute in Denver. “The fact is that wages aren’t keeping up with these huge jumps in home prices.”

For the first time since July 2022, home prices in all major U.S. metros, including Denver, rose year-over-year, reports brokerage firm Redfin. The S&P CoreLogic Case-Shiller Index for Denver has home prices up 2.7% the past year through February.

After five weeks of increases, the average interest rate charged on a 30-year loan reached 7.22%, the highest level since Thanksgiving, according to Freddie Mac.

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Purchasing a home was hard before, and it is only getting harder. In 2011, a buyer in Colorado could expect to work 44 hours a month on average to cover the mortgage payment. That bar moved up to 96 hours last year, a 118% increase, according to CSI’s Colorado Housing Competitiveness Index, which Byers co-authored.

Things are only slightly better for renters. They had to work 45 hours on average to cover the monthly rent in 2011. Now they have to work 87 hours. Colorado tenants devote more hours of work a month to meet the rent than do residents of any other state, according to the CSI report.

After the Great Recession, metro Denver became a hot spot for young professionals and tech workers looking to relocate. Demand for housing outstripped supply, causing home prices and rents to rise. Net domestic migration has fallen the past two years, as more people pick up and leave and fewer move in, Byers said. Higher housing costs have made the state less attractive.

That is both good and bad. Slower population growth should reduce pressure on the housing market and give builders time to catch up, stabilizing home prices and rents over time. But it also leaves employers and the larger economy, long dependent on importing the talent it needs, vulnerable. If the economy stalls, those struggling with higher living costs could pay the price.

Of the 50 largest U.S. metro areas, only six have median home prices that align with median incomes, according to a study from Clever Real Estate. Denver had the 8th biggest gap between in the amount of income needed to attain a median-priced home.

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Zillow places the typical home value in metro Denver at just shy of $561,000 in December. Assuming a 20% downpayment and at current mortgage rates, an annual income of $167,562 would be required to buy that home, according to the Clever Real Estate study.

But here’s where it gets painful. The median income for metro Denver households is $98,975 a year, resulting in a shortfall of $68,587. Denver residents earn above-average incomes, but the higher pay isn’t enough to cover way above-average housing costs.

Wages tend to be lower in other parts of the state, and the affordability “gap” statewide is a little larger at $69,587. Colorado’s median home price is $531,900, not too far behind the metro Denver median price. With 20% down, that requires an income of $158,889, according to Clever Real Estate. The median household income statewide is $89,302.

Absent outside help, first-time buyers are often hard-pressed to put 20% down. That would require $112,200 on the typical home in Denver. What could someone putting 10% down and making the median income in Denver afford after the recent jump in mortgage rates? Clever Real Estate puts that amount closer to $270,000 to $280,000.

Good luck finding that. Out of 6,458 single-family home closings in metro Denver in the first three months of the year, only 50 involved a home priced below $300,000, according to the Denver Metro Association of Realtors.

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Buyers of condos and townhomes face better odds, with 452 out of 2,343 sales this year below $300,000. But even there, only 20% of listings are affordable to households earning a median income. Only 5.7% of sales, homes or condos, were attainable.

The hurdle is even higher for new home buyers. The median new home price in Colorado is about $650,000, according to a study from the National Association of Homebuilders. Only one in five households in the state can afford something at that price point. Two million households in the state can’t afford to purchase a new home at the middle price point.

Renting cheaper now, but costly long-term

Most renters have limited options when it comes to buying in metro Denver. But in their favor, renting offers a substantial discount over buying right now, according to a separate analysis from Bankrate, the personal finance website.

The typical monthly payment for the median-priced home is around $3,627 in metro Denver, including the mortgage payment, property taxes and insurance. By contrast, the typical rent is $2,027 when looking at a rent index from Zillow that combines apartment, condo and home rents.

Renting was cheaper than buying in all 50 metros studied, but Denver had the ninth largest gap at $1,600. That 79% premium was much larger than the 36.6% premium to own nationally.

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“I wouldn’t say rent is affordable, but between buying and renting, renting is the lesser of the two evils,” said Alex Gailey, lead data reporter at Bankrate and the author of the analysis.

In an ideal world, renters would sock away that extra money as emergency savings. After that, savings would be invested in the stock market, which has provided a higher return than owning a home over time. If an employer matches a retirement plan contribution, that would translate into an automatic 50% return off the bat.

But most renters probably won’t follow that strategy, leaving them vulnerable long-term, Gailey acknowledges. If an area isn’t losing population, homes should rise in value even after accounting for repairs and maintenance.

That equity can be poured into buying a bigger home down the road, or it can help fund expenses in retirement or be passed onto children and heirs, building inter-generational wealth. Also, mortgage payments can be locked in, while a rent payment can’t.

“You are building equity for yourself rather than for someone else,” said Jen Ankrum, director of sales for KB Home in Colorado, when asked about the message the company shares with renters looking to buy.

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First-time buyers account for about half of the sales at KB Home, which strives to provide a high-quality, energy-efficient home priced below the competition. Even with the heavy focus on first-timers, about a third of buyers make under $100,000, a third make $100,000 to $150,000 and a third make more than that amount.

Normally, the housing market tries to find an equilibrium, offsetting rising interest costs with slower price gains or even price declines. But demographics have prevented that from happening. Millennials, born between 1981 and 1996, are now the nation’s largest generation at 72 million. They are behind schedule compared to prior generations when it comes to buying homes and pushing hard to acquire them even if the conditions aren’t favorable.

Markets where more millennials relocated to have housing markets under the most pressure. A little more than six in 10 homebuyers in metro Denver are millennials — only San Francisco and San Jose in California and Boston have a higher share of millennial buyers, according to a study from loan portal LendingTree.

None of those markets would be considered affordable. In Denver, millennial buyers on average made a downpayment of $70,710 and borrowed $456,805 to purchase a home, LendingTree reports.

“A big reason why millennials concentrate in expensive housing markets is because those areas often have robust and relatively high-paying job markets,” said Jacob Channel, a senior economist at LendingTree and author of the report.

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Large tech companies are reducing their headcounts and a recession, when it comes, could accelerate layoffs. What happens if those high-paying jobs go away but the high mortgage payments don’t? But Channel doesn’t see a systemic risk to the housing market.

“While there are doubtlessly some millennials who are currently stretched too thin and must contend with the prospect of downsizing or, in the worst case, foreclosure, the number of people struggling isn’t large enough for there to be a serious risk to the broader housing market,” Channel said.

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Denver, CO

Victor Marx wins GOP primary for Colorado governor, defeating veteran lawmaker after unorthodox campaign

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Victor Marx wins GOP primary for Colorado governor, defeating veteran lawmaker after unorthodox campaign


Victor Marx, a first-time candidate and nonprofit leader with a controversial personal history that’s drawn intense scrutiny, has edged out his more establishment opponent and will be Colorado Republicans’ gubernatorial nominee in November.

The Associated Press called the race for Marx late Thursday afternoon, nearly nine days after polls closed. He led the runner-up, state Sen. Barb Kirkmeyer, 39.9% to 39.4%, with 99% of ballots counted, according to the AP.

Marx had taken his first narrow lead over Kirkmeyer the day after the June 30 primary, and though the race remained close, he never lost the advantage. While outstanding deficient and overseas ballots helped delay a final call on the race, those votes only served to expand Marx’s margin. He led by 2,524 votes at 5:30 p.m. Thursday, out of about 522,000 ballots cast.

State Rep. Scott Bottoms was a distant third, with 20.8% of the vote.

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A veteran lawmaker and former Weld County commissioner, Kirkmeyer had jumped to an early advantage on the strength of early ballot returns. But as votes returned on Election Day began to filter in, her lead thinned and collapsed. Within 48 hours of polls closing, and with few ballots left to count in Kirkmeyer’s Front Range strongholds, her path to retake the lead had all but vanished.

Marx will next face Democratic Attorney General Phil Weiser in November. No Republican has been elected to the governor’s office in more than 20 years. Four months out, Weiser appears to be heavily favored to continue Democrats’ electoral dominance.

In an email to supporters after the race was called, Marx said he was humbled to be the nominee and that the victory was “the starting line.”

“My team and I have put together this special message that I want every Coloradan to hear — Republicans, independents, unaffiliated voters, and Democrats who are open to a better way,” he said. “Because what we’re building now is bigger than a primary victory.”

In a video, he appealed to Coloradans who are frustrated with the status quo and don’t think things can change — citing his victory as proof they can.

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“Now Phil Weiser, he’s a smart fella — but he represents the current system, because he is part of it,” Marx said. “And that current system has made Colorado more expensive, less safe and harder for regular families to trust government.”

State Sen. Barb Kirkmeyer speaks to supporters at a primary election night watch party at Ben’s Brick Oven Pizza in Hudson, Colorado, on Tuesday, June 30, 2026. (Brice Tucker/Greeley Tribune)

In a separate statement, Kirkmeyer said she was proud of the race that she had run and the “clear vision” she had laid out for the Republican Party here.

“While we came up short in what appears to be the closest Republican gubernatorial primary in Colorado history, I’m grateful for every voter who placed their trust in us,” she wrote.

Echoing the pledge she’d made before Election Day, she pointedly did not endorse Marx. She said only that she hoped voters “choose the path that is best for Colorado” in November.

Kirkmeyer also threw a final jab at Marx, who declined in late May to tell 9News how many people he’d killed as an adult.

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Kirkmeyer wrote that, “for the record, I still haven’t killed anyone.”

First-time candidate shrugged off questions

Marx’s primary win is a remarkable result for the embattled Colorado GOP and for Marx, a former Marine, martial arts instructor and nonprofit leader whose extensive and much-scrutinized personal history had drawn national headlines. It’s also attracted sharp criticism from other Republicans.

In his video, Marx appealed to Republican primary voters, saying there was room in his campaign for those who supported his opponents.

Marx had entered the fray last fall with no political profile and no experience as a political candidate. But by the time voters began receiving ballots last month, he’d ridden an atypical — if thoroughly modern — campaign to fundraising dominance and front-runner status.

Kirkmeyer’s support largely flowed from northern Front Range counties, nudging her ahead initially. But Marx picked up bigger margins among Election Day voters — meaning those more conservative voters skeptical of mail-in balloting.

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He also won ruby-red El Paso County while racking up smaller wins in rural counties and grabbing enough in the Front Range to edge Kirkmeyer.

Map: Where did the votes come from in the Colorado primary races for governor?

In a pitch reminiscent of President Donald Trump, the arch-dealmaker, Marx has cast himself as a solutions-focused negotiator disinterested in partisan squabbles. In 2003, he founded All Things Possible Ministries, a Christian nonprofit that has provided stuffed animals and trauma support to people. It has also done work in conflict areas in Syria and Iraq, where Marx primarily worked away from the front lines as a funder and facilitator.

By 2024, the nonprofit’s annual revenue had surpassed $7.5 million, and Marx has said the group — from which he has resigned — now primarily works to help law enforcement.

Despite his outsider status, Marx was considered the likely winner in the weeks before Election Day. His narrow victory, then, came as something of a surprise, and, on election night, he speculated that Bottoms — a conservative pastor from Colorado Springs — had pulled votes from him. In El Paso County, Bottoms earned more than 20,000 votes, or 24% of the county’s Republican total.

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Though Marx out-raised and out-spent both Kirkmeyer and Bottoms, it was Kirkmeyer who had been perceived as the expected nominee when she entered the race last year. Marx had never run for office before, and the stories he’s told about his life — that he’d killed a man at age 7, been involved in “high-risk humanitarian” operations across the globe and could free people from demonic possession — drew intense scrutiny and national punchlines.

But he repeatedly shrugged off questions about his background and said he stood by all that he had said and written.

Through his personality-heavy, direct-to-voter campaign, he encouraged Colorado Republicans to shrug it off, too. He spent heavily on direct mailers, which provided a boost to both his fundraising and name recognition.

Marx eschewed policy discussions and skipped nearly every debate. When he did participate in one, he spent part of the event leaning on the lectern, with his dog at his feet. Rather than deliver a closing statement, he prayed.

From left, state Rep. Scott Bottoms, Victor Marx and state Sen. Barb Kirkmeyer square off during a GOP gubernatorial debate at the Cable Center on the the University of Denver campus in Denver on Tuesday, June 2, 2026. (Photo by AAron Ontiveroz/The Denver Post)
From left, state Rep. Scott Bottoms, Victor Marx and state Sen. Barb Kirkmeyer square off during a GOP gubernatorial debate at the Cable Center on the the University of Denver campus in Denver on Tuesday, June 2, 2026. (Photo by AAron Ontiveroz/The Denver Post)

Campaigning his own way

Though he leaned into his outsider status, the aw-shucks appeal belied a careful campaign shaped by Marx’s emergence from a political environment forged by Trump: He skipped one debate after a moderator pressed him about his background, and he held a rally instead; his campaign later highlighted how many more people attended the rally than the debate.

His media operation was led by a former Turning Points USA staffer, and his campaign touted its social media posts’ views at Marx’s watch party last week. He was comfortable as a podcast guest, regularly released videos of himself and repeatedly assured voters that he was no politician.

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Denver, CO

Santa Fe Drive in Denver closed this weekend for pedestrian bridge construction

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Santa Fe Drive in Denver closed this weekend for pedestrian bridge construction



If you use Santa Fe Drive as a part of your daily commute, you will notice full closures this weekend on a popular section, from Florida Avenue to Evans Avenue, for the installation of a pedestrian bridge.

Once the 370-foot pedestrian bridge is completed, it will connect the east and west portions of Denver’s Overland neighborhood. This bridge will be used by pedestrians and bicyclists. 

Once the 370-foot pedestrian bridge is completed over Santa Fe, it will connect the east and west portions of Denver’s Overland neighborhood.

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Denver Department of Transportation


The Denver Department of Transportation and Infrastructure says this closure is needed to keep the traveling public safe. Large cranes will be used to set the two spans in place. Each one weighs about 215,000 pounds and is 180 feet long.

Once the bridge is completed in 2027, it will create a safer connection for pedestrians and bicyclists. It will link neighborhoods to trails, transit, parks, and local businesses without requiring residents to cross heavy traffic.

“Our neighborhood is quartered by transportation routes, so having a safe pedestrian bridge that can take people from one side to the other is an amazing development that neighbors have been asking for for years,” Jenn Greiving, President, Overland Park Neighborhood Association, said. 

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Denver Department of Transportation


The Santa Fe Drive closure will begin at midnight on Saturday, July 11, and end on Monday, July 13, at 5 a.m. There will be detours in place. This includes:

  • Southbound Santa Fe Drive Detour: Traffic will be routed to Platte River Drive to reenter southbound Santa Fe Drive at the West Evans Avenue on-ramp.
  • Northbound Santa Fe Drive Detour: Access to northbound Santa Fe Drive will be at Mississippi Avenue via South Broadway Street.
  • On-Ramp Closure: The West Evans Avenue on-ramp to northbound Santa Fe Drive will close at noon on Friday, July 10, to prepare for the full weekend closure and will remain closed until 5 a.m. on Monday, July 13. Traffic will be detoured to South Broadway Street to re-enter northbound Santa Fe Drive via Mississippi Avenue.
  • Off-Ramp Closure: The southbound Santa Fe Drive off-ramp to West Evans Avenue will close for the full weekend period and remain closed until Friday, Sept. 11, while crews build new sidewalks and perform other concrete work at the southwest corner of the project. Detours will be posted to West Florida Avenue, West Dartmouth Avenue or West Hampden Avenue to bypass the ramp closure 

During this closure, DOTI will reopen the underpass on Iowa Avenue. This is a new ADA accessible pathway that will be available between Santa Fe Drive and Acoma Street.



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Denver, CO

Denver officers cited for separate incidents, 1 fired

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Denver officers cited for separate incidents, 1 fired


DENVER (KDVR) — Two officers, one now formerly of the Denver Police Department, face multiple charges relating to separate incidents in the past two months.

According to a release, now-former Denver Police Officer Gabriel Lucero was issued a citation for third-degree assault, official misconduct and false reporting, while Officer Javon Leach was cited for reckless driving and eluding.

The incident involving Lucero reportedly occurred on May 22 just before 1 a.m. in the 500 block of 16th Street. According to a release, Lucero was involved in an assault at a business, as he allegedly assaulted a person and walked away as others continued to assault the victim.

Security guards and an off-duty officer escorted him and the group out; however, Lucero reportedly identified himself as a Denver police officer and attempted to re-enter by using his police badge.

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Lucero reportedly provided a false name without any other information, and further investigation verified Lucero as the person involved. Lucero was hired in 2025 and, due to his current probationary status, was fired as of Wednesday.

The incident involving Leach occurred around 1:41 a.m. on June 21, when Leach was reportedly pulling out of a parking lot on Larimer Street, attempting to drive against traffic.

Leach reportedly refused commands to stop as he left the area. Officials said he was found just seven minutes later, traveling at high speeds northbound on Park Avenue West.

He reportedly fled a traffic stop and continued to drive away, and officials deemed Leach to be the suspect following an investigation. He was placed in an off-line assignment while the case progresses, as they are considered misdemeanors.

“The Denver Police Department’s administrative review of Leach’s incident will begin once the criminal case is adjudicated, and that process includes the Denver Department of Safety and the Office of the Independent Monitor, a civilian oversight agency,” the release said.

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