What will $200,000 buy: Denver

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for

The sales pitch
This 8-year-old contemporary town house is located in the Denver suburb of Highlands Ranch. It has an open living room with an oversize picture window and a gas fireplace. Nine-foot ceilings give way to the kitchen with a breakfast bar, hardwood cabinets, recessed lighting, stainless steel appliances and an adjacent dining room.

Price: $195,000

Area median price: $229,800 (up 3 percent from one year earlier)

  • 2 bedrooms/2½ baths
  • Approximately 1,538 square feet
  • Two car garage
  • Gas fireplace
  • Vaulted master suite with garden tub
  • Covered porch

“The master bedroom is huge — bigger than a lot of single-family homes,” says Michael Zak, owner-broker of The Zak Group at 8z Real Estate. It has a cathedral ceiling, double windows, walk-in closet and bathroom with cathedral ceiling, corner garden tub, separate glass shower and bathroom.

The town house also has a covered porch and two-car garage. The community has a pool and tennis courts.

What else you can get for $200,000
In the Denver area, buyers “are probably going to still be somewhat limited at $200,000,” says Justin Knoll, president of the Denver Board of Realtors and broker associate-team leader with Coldwell Banker Denver Central. The farther you get away from central Denver, the more bang you can get for your buck, he says.

In central Denver for $200,000, careful buyers can find a condo with “a couple of bedrooms,” Knoll says. “As you push further east, you can get quite a bit.”

Inside the city limits at the price, buyers can find “a very small place — 1,500 to 2,000 square feet — with two bedrooms,” he says. “Something pretty small in a decent location.”

Outside the city limits, buyers have more options and square footage, he says.

But “it’s a tricky price range, for sure,” he says.

There are definitely more options than there were two or three years ago. “The inventory has opened up,” he says. “There are more choices the consumer can make at $200,000.”

There may not be “a huge difference price-wise, but buyers have more aisles to shop as they go through the store,” Knoll says.

Select a city