Housing

Over the last couple of years Aurora has experienced exponential growth in housing units. Currently, over 50% of Aurora's housing units are single-family detached homes. We are seeing more and more development projects come in with a mix of housing types and densities. The following charts will show housing type, value, rents and occupancy all compared to the State and Metro Area.

Home Values

The median home value for the city of Aurora is $322,200, which is up ~$63,000 from 2018 according to Census data.



Source: U.S Census Bureau 2016-2020 ACS 5-Year Estimates

Occupancy

The average household size for the city of Aurora is 2.84. The average household size for Aurora is a bit higher than compared to the Denver Metro Area and the state of Colorado. Vacancy rates have been consistent over the past couple of years. The current homeowner vacancy rate is 0.8%, while the rental vacancy rate is 4.9%.

 







Source: U.S Census Bureau 2016-2020 ACS 5-Year Estimates

Gross Rents

The median gross rent for rented occupied units in Aurora has been steadily increasing over the past few years. In 2018 the median gross rent was $1,241.00. In 2020 the median gross rent is $1,401. 








The chart below shows the share of gross rent in household income in Aurora for 2020. Approximately 46.1% of Aurora residents in renter-occupied units are paying gross rent that exceeds 35% or more of their income. Gross rent does not include additional housing costs like utilities. 



Source: U.S Census Bureau 2018-2020 ACS 5-Year Estimates