1. The Rental Market Realities

• For 3-bedroom rentals in Denver, average monthly rents are around $2,700 to $3,300 or more. For example:
  • According to Apartments.com: The average rent for a three-bedroom in Denver is about $2,776/month. Apartments.com+1
  • ApartmentAdvisor reports ~$2,895/month for 3+ bedrooms. ApartmentAdvisor
• These rental numbers reflect only the monthly expense — you don’t build equity, you’re subject to rent hikes, and you often don’t get the same flexibility or asset building that comes with ownership.

2. What Homeownership Looks Like in the Market

• As of now, 3-bed/2-bath homes listed for sale in Denver show price points such as:
  • Listings around $575,000–$850,000 for 3-bed/2-bath homes. Redfin+1
• Let’s do a rough example: Suppose you buy for $600,000, put down 20% ($120,000), and finance $480,000 at an interest rate of ~6% for 30 years (just for illustration). Your monthly mortgage payment (principal + interest) would be about $2,876.
  • Then add property taxes, homeowners insurance, possibly HOA fees or maintenance — say you’re looking at ~$3,200-$3,500/month in total housing cost (varies greatly by neighborhood, property condition, exact tax rate).
• The key difference: a portion of that payment goes into building your equity (ownership) rather than just paying someone else’s asset.

3. Comparing Renting vs Buying: The Big Picture

• Renting: Pay ~$2,800+ each month, with the risk of increases, limited control, and no equity building.
• Buying: Maybe ~$3,200-$3,500/month (or more depending on home price and rate) for a home you own, potentially in a desirable neighborhood, with the opportunity to build wealth via appreciation and equity.
• If you can find a home at the lower end of the 3-bed/2-bath market (for instance ~$575k or less), the monthly cost gap between renting and owning shrinks substantially — making ownership a viable option rather than a stretch.

4. Why It’s Becoming More Affordable to Own (Relatively Speaking)

• With rents high, especially on larger units, the “rent vs own” gap narrows.
• Buying offers upside: you lock in your payment (to an extent), avoid constant rent increases, and benefit from any property value appreciation.
• In a market like Denver where 3-beds for rent are commanding premium prices, the argument for owning gets stronger — if you’re ready for what homeownership demands (maintenance, property taxes, longer-term commitment).

5. Important Considerations Before You Jump In

• Interest rates matter a lot: A small change in rate makes a big difference in monthly payments.
• Neighborhood & condition: The $575k–$850k range for 3/2 homes covers very different areas and conditions. A home in a less‐central area or needing updates might cost less, making it more affordable.
• Down payment & closing costs: Make sure you’re prepared for upfront costs.
• Maintenance & hidden costs: Ownership comes with ongoing costs: roof, systems, landscaping, property tax increases.
• Stay horizon: Typically homeownership makes more sense if you plan to stay 5+ years to weather market swings and amortize the closing costs.

Conclusion