Quick facts: Centennial, CO

Quick Facts

114.3
Cost of Living
above US average
105,865
Population
20.47
Crime Rate per 1000
below US average
$124,617
Median Income
above US average
$619,700
Median House Price
above US average
$2320.08
Average Rent
above US average
5%
Poverty Rate
below US average
3.7%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $124,617.

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Income Needed to Buy

βœ— Stretch
$194k/year
Based on $619,700 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $194k vs median $124,617
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Income Needed to Rent

βœ“ Affordable
$99k/year
Based on $2320.08/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($124,617) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Centennial, CO

Centennial, Colorado, is a vibrant city located in Arapahoe County, just south of Denver. Established as a city in 2001, it is known for its suburban charm while still being closely connected to the metropolitan life of Denver. The city boasts a strong community spirit, with numerous parks, recreational facilities, and open spaces that enhance the quality of life for residents. Centennial is home to a diverse population and offers excellent schools, making it a popular choice for families. The city features a range of dining and shopping options, particularly around the Centennial Promenade and Park Meadows Mall. Outdoor enthusiasts will appreciate the extensive trail systems and parks, such as South Suburban Park and Cherry Creek State Park, offering opportunities for hiking, biking, and water sports. For culture and entertainment, Centennial is in proximity to Denver’s vibrant art scene, sports events, and nightlife. With its strategic location near major highways, Centennial provides easy access to downtown Denver and the breathtaking Rocky Mountains, making it an appealing place to live and visit.

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