Home Ownership Figures Prominently in American Wealth
Two recent studies have confirmed that home are a great source of wealth in the U.S. The Federal Reserve estimated that Americans own about $28.4 trillion worth of housing. Online banker Lending Tree examined real estate wealth at the community level and found that Denver and Boulder-Longmont are among the richest in residential value—Denver ranks #17 with $374 billion (with a median home value of $391,000), Boulder ranks #48 with $88 billion in residential value (with a median home value of $459,000).
The foothills doesn’t warrant ranking by virtue of our small size, but our average selling price at the end of 2018 was over $625,000. This figure ignores the value of homes that didn’t sell during the year, but we certainly rank favorably against Denver and Boulder.