Our #3 Best Colorado Home Building Location: Cherry Creek
Cherry Creek is one of Denver’s premier neighborhoods, famed for its stately tree-lined roads, luxe shopping options, world-class dining, and some of the most desirable real estate in the city. It sits just 10 minutes outside of Downtown Denver, giving the city the ability to simultaneously offer residents the creature comforts of the city with the slower pace and safe streets of the suburbs.
While Cherry Creek is close to Denver, it’s also a cultural destination on its own merits, with art galleries galore, trendy boutiques, and clothiers that wouldn’t be out of place in Beverly Hills or SoHo. Cherry Creek North, a posh Cherry Creek submarket, is considered to be one of the best shopping destinations in the region, and it is far from the only option available in Cherry Creek. This exclusive enclave is among the smaller neighborhoods on our list, with a population of 11,120 as of the 2020 census.
What makes Cherry Creek a great place to build a custom home?
The 80111 zip code, Cherry Creek’s zip code, holds considerable cachet within Denver. While you may find cheaper lots or better suburban amenities like Big Box stores in other Front Range cities, Cherry Creek’s longstanding reputation gives it a level of stability over the long term that is hard to match. This is evidenced by its lofty average household income, which comes in far above the average at $166,971.
While Cherry Creek skews more mature than many other Denver neighborhoods, it is still popular with families, and the local school district enrolls more than 55,000 students every year, in fact sharing some overlap with students and schools in Greenwood Village. The schools are above-average, in line with the neighborhood itself, and students score well on academic measures like college acceptance and standardized test scores.
Despite its grand reputation and cultural clout, Cherry Creek’s median listing home price is in the middle of the cities on our list, coming in at $725K– a more than acceptable entry point in today’s red-hot market. As an investor, you might want to look into properties sooner rather than later, as the Cherry Creek neighborhood has seen double-digit growth in median listing home prices over the last year, growing by a whopping 15.8%.