If you’re looking for the perfect location in the Denver Metropolitan Area, consider Platt Park. This neighborhood has a great, central location with easy access to I-25 and the light rail, making trips to other parts of Denver and the beautiful surrounding Rocky Mountains a breeze. In Platt Park, historic homes from the early 1900s create a neighborhood with character and a deep connection to the roots of Colorado. Tree-lined streets wind through the beautiful homes, allowing residents to easily walk to the park or grab a coffee in the morning. It’s the perfect combination of a relaxing setting with all the amenities of urban living.
Platt Park has excellent school systems; within the neighborhood, there are elementary schools, middle schools, high schools, and even a university within a two-mile radius. Families also love Platt Park for its beautiful outdoor spaces and community events. There’s always something going on in Platt Park, whether it’s the farmers market in the summer or holiday celebrations in the winter. The community regularly comes together in celebration of the neighborhood’s beautiful heritage.
If you’re considering moving to Platt Park, you might wonder how the cost of living compares to other parts of the country. Our guide will walk you through the living costs for Platt Park and further advise you on buying a home in this beautiful area.
Housing: home purchase price
According to the Colorado Association of Realtors, Denver County, which includes Platt Park, saw fewer listings sold year-over-year from March 2022 to March 2023 (a drop from 619 to 480). This may be partly a reaction to increased interest rates, which reached 6.28% in April 2023. High interest rates slow markets — buyers are inclined to wait, and current homeowners may have locked in a better interest rate upon purchase, making them reluctant to sell.
The median sales price for a single-family home also decreased in Denver County from February 2022 to February 2023: from $744,000 to $650,000, a drop of 12.6%. If mortgage interest rates remain high, home prices may continue to decline in the area.
According to a study by Forbes Magazine, the cost of a gallon of milk in Denver is $2.07, a loaf of bread costs $3.91, and a pound of coffee costs $4.97. This is significantly cheaper than other cities, such as Chicago, where a gallon of milk costs $2.29, or New York, where milk costs $3.04.
Living in Platt Park gives you more value for your investment than in other major metropolitan cities. When the basics cost less, the budget has more room to enjoy high-end dining, beautiful ski resorts, and other city amenities.
According to the Massachusetts Institute of Technology, the average annual cost of transportation for two working adults with two children is $14,058. For a single adult with no children, the average annual cost of transportation is $5,316.
Other prominent industries around the Platt Park area include architects and engineers, who earn an annual average salary of about $105,000, and life science employees, who earn about $85,000 annually.
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*Header photo courtesy of Shutterstock