More than 50 percent of the population in the cities of Denver and Seattle are homeowners, but Seattle homeowners pay a lot more for property than those in Denver for virtually the same square footage, according to data released Jan. 21 by real estate analytics firm Redfin.
Redfin compared Denver and Seattle home prices, types of homes and other city characteristics, and examined where the quarterbacks, rookies and super fans could afford to live in each city.
The data showed that approximately half the residents of both Denver and Seattle own a home (50.4 percent vs. 47.3 percent, respectively); but in Seattle the median sale price of homes sold in 2013 was $403,402 compared to $260,547 in Denver.
Despite the difference in average home price, the data revealed that homes in each city are about the same size — a median 1,600 square feet. However, people in Denver have bigger yards, with a median lot size of 6,250 square feet compared to Seattle's 5,500 square feet.
Even though Seattle homes lack yard space compared to Denver, they make up for it in views. According to data that Redfin pulled from the multiple listing service, 63 percent of Seattle homes sold in 2013 mentioned a view in the listing description compared to only 14 percent of Denver homes.
Denver and Seattle also both have a healthy economy, with numerous technology companies headquartered in both regions. However, people in Seattle earn more. According to the latest Census data, the median household income in Seattle is $63,470 compared to $49,091 in Denver.
Read the full report to find out where these team’s quarterbacks, rookies and super fans could afford to live in each city.