ZIP Code Market Report
80204 — Denver, CO
Data through February 2026 · Updated monthly
Avg Home Value
$521,262
▼ 5.4% year-over-year
Month-over-Month
-0.4%
▼ 0.4%
Single Family
$538,672
Condo / Co-op
$434,234
The average home value in the 80204 ZIP code (Denver, Colorado) is $521,262 as of February 2026. Home prices are declining, down 5.4% compared to last year.
A 3-bedroom home in 80204 is valued at $617,045. 1-bedroom units start around $361,847. Single-family homes average $538,672, while condos average $434,234.
The market in 80204 has a $350,429 spread between bottom-tier homes at $375,202 and top-tier homes at $725,631. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 80204 ZIP code will decrease 1.7% over the next 12 months, bringing the projected average to approximately $512,401. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Elbert County market area in Colorado. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Elbert County report.
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Market Snapshot
80204 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $525,389 | $523,453 | $521,262 | ▼ 0.8% |
| Single Family Value | $536,920 | $538,058 | $538,672 | ▲ 0.3% |
Home Values
80204 Home Value Trend
Historical home values for ZIP code 80204. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 80204
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 1 Bedroom | $361,847 |
| 2 Bedrooms | $486,940 |
| 3 Bedrooms | $617,045 |
| 4 Bedrooms | $663,874 |
Property Types
Home Values by Property Type in 80204
How different property types compare in this ZIP code.
All Homes
$521,262
Single Family
$538,672
Condo / Co-op
$434,234
Bottom Tier
$375,202
Top Tier
$725,631
Forecast
12-Month Home Value Forecast for 80204
Zillow projects home values in 80204 will decrease 1.7% over the next year, reaching approximately $512,401.
Current Value
$521,262
Projected Change
-1.7%
▼ 1.7%
Projected Value
$512,401
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 80204 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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