The Housing Market in Highlands Ranch Today
Highlands Ranch, a picturesque suburb located just south of Denver, has experienced steady growth in recent years. The local housing market remains competitive, with a mix of apartments, townhomes, and single-family houses available to rent or purchase. Inventory has tightened somewhat in 2023, but new housing developments continue to rise, particularly in the northern part of the city.
The economic context in Highlands Ranch is generally favorable, with a strong job market and relatively high median household income compared to the national average. This has helped sustain demand for housing, even as costs have trended upward. Many residents are drawn to the area for its excellent schools, abundant parks and trails, and convenient access to both Denver and the mountains.
Renting in Highlands Ranch: What’s Typical?
For those looking to rent in Highlands Ranch, a one-bedroom apartment typically costs around $1,600 per month, while a two-bedroom unit averages closer to $2,000. These figures can vary depending on the age, size, and location of the complex. Newer luxury apartments in central areas like Eastridge or Westridge tend to command higher rents than older units farther from amenities.
Rent prices in Highlands Ranch have risen steadily over the past decade, outpacing inflation but remaining more affordable than central Denver. Availability is generally good, with a range of apartments catering to young professionals, families, and empty nesters. Popular renter areas include Eastridge, Westridge, and the Town Center, which offer walkable access to shopping, dining, and entertainment options.
Newer apartment complexes in Highlands Ranch often include trash and internet service in the monthly rent. Some also feature in-unit laundry, covered parking, fitness centers, and swimming pools. Renters insurance is typically required and can cost around $15 per month for a basic policy.
Owning a Home in Highlands Ranch
For those looking to purchase a home, the median sale price in Highlands Ranch currently stands at $600,000. Assuming a 20% down payment and a 30-year fixed mortgage at 6.5% interest, this translates to an estimated monthly payment of $3,032 before taxes and insurance.
In addition to the mortgage, homeowners in Highlands Ranch can expect to pay around $300 per month in property taxes, $100 for insurance, and $50-300 in HOA dues, depending on the neighborhood and amenities. Utilities typically run $250-400 per month, including water, sewer, electricity, gas, and internet.
While these costs are significant, many residents find that owning a home in Highlands Ranch offers a strong long-term value. The city has historically seen steady appreciation in property values, and the quality of life remains high. Popular neighborhoods for buyers include Backcountry, Highlands Point, and Eastridge.
Renters vs. Homeowners: Who Lives Where?
Highlands Ranch has a homeownership rate of around 80%, higher than the national average of 64%. This reflects the city’s appeal to families and established professionals who prioritize stability and community ties. However, the rental market still plays an important role, particularly for younger residents and those who value flexibility.
Young professionals in Highlands Ranch often opt to rent apartments near the Town Center or along major corridors like Lucent Boulevard and Broadway. These areas offer easy access to jobs, shopping, and nightlife. Families, on the other hand, tend to gravitate toward the city’s many master-planned communities, which feature spacious homes, good schools, and ample parks and playgrounds.
For retirees and empty nesters, both renting and owning are viable options in Highlands Ranch. Some choose to downsize to a low-maintenance apartment or townhome, while others prefer the stability and community ties of a single-family house. Senior living communities like Vi at Highlands Ranch offer another option for those seeking a more supportive environment.
Typical Monthly Housing Costs in Highlands Ranch
Here’s what housing costs might look like each month in Highlands Ranch:
| Cost | Apartment (1BR) | House (Median Price) |
|---|---|---|
| Rent/Mortgage | $1,600 | $3,032 |
| Property Tax | – | $300 |
| Insurance | $15 (renters) | $100 |
| HOA Dues | – | $150 |
| Utilities | $100 | $325 |
| Total | $1,715 | $3,907 |
Estimates reflect mid-range properties and average usage.
What’s Driving Costs Up or Down?
Several factors influence housing costs in Highlands Ranch. On the demand side, the city’s strong job market, good schools, and high quality of life continue to attract new residents, putting upward pressure on prices. The supply of housing, while growing, has not kept pace with population growth, further contributing to affordability challenges.
Zoning and land use policies also play a role. Much of Highlands Ranch is zoned for single-family homes, with smaller pockets of higher-density apartments and townhomes. This limits the overall housing supply and makes it harder to build more affordable options. However, the city has taken steps in recent years to encourage a greater mix of housing types, including accessory dwelling units (ADUs) and mixed-use developments.
Construction costs are another key factor. Like much of Colorado, Highlands Ranch has seen significant increases in the price of labor, materials, and land over the past decade. This makes it more expensive to build new housing and puts upward pressure on rents and sale prices. However, there are signs that construction costs may be moderating as supply chains normalize in the wake of the COVID-19 pandemic.
FAQs About Housing in Highlands Ranch
- Is Highlands Ranch affordable to live in? While housing costs in Highlands Ranch are higher than the national average, many residents find that the city offers a good value for the quality of life. Incomes tend to be higher as well, making it easier to afford the cost of living. However, affordability remains a challenge for some, particularly those in lower-wage jobs or on fixed incomes.
- Why are housing prices changing? Housing prices in Highlands Ranch are influenced by a variety of factors, including population growth, job market strength, construction costs, and zoning policies. In recent years, prices have trended upward due to strong demand and limited supply, but the pace of growth may moderate as more housing comes online.
- How does Highlands Ranch compare to nearby cities? Compared to central Denver, housing costs in Highlands Ranch are generally more affordable, with lower rents and home prices. However, Highlands Ranch tends to be pricier than some other suburbs like Littleton or Centennial. Ultimately, the right choice depends on individual priorities around commute times, schools, amenities, and budget.
Making Smart Housing Decisions in Highlands Ranch
For those considering a move to Highlands Ranch, it’s important to weigh the full range of housing costs and lifestyle factors. Renting may offer greater flexibility and lower upfront costs, while owning a home can provide stability and the potential for long-term appreciation. Location within the city also matters, with trade-offs between price, commute times, and access to amenities.
Regardless of whether you choose to rent or buy, it’s crucial to budget carefully and plan for both upfront and ongoing costs. This may include saving for a down payment, setting aside money for repairs and maintenance, or adjusting your lifestyle to fit a higher cost of living. By doing your research and making informed decisions, you can find a housing option that meets your needs and supports your long-term financial goals.
For a more comprehensive look at the cost of living in Highlands Ranch, check out our 2025 guide. This resource covers everything from housing and transportation to food, healthcare, and entertainment costs, giving you a full picture of what it takes to thrive in this vibrant Colorado community.