Purchasing a home is not a cheap endeavor — especially in the Centennial State.

Last year, GOBankingRates discovered that Colorado's cost of living is worse than New York's. In March, Porch.com ranked it as the No. 2 state where homebuyers need co-signers to purchase a house.

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Still, property costs do vary across the state.

Living in the Mile High City will cost you

Home prices are particularly dismal in Denver (although people still want to rent there). According to a new report from StorageCafe, the average home in the Mile High City costs around $590,000, despite that Denverites are only making about $74,000 a year.

"If you want to become a homeowner in Denver now, you need to earn above six figures, to be able to pay a mortgage and to save up for down payment within five years," reads the report.

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So, what job do you need to afford a home in the Mile High City? Let's find out.

Dreaming of Denver? Don't be an IT professional

StorageCafe reports that, even though the average salary of an IT professional is a healthy $107,000, they still don't make enough to swing it in Denver — the numbers show they'll have to save over five years for a down payment.

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What career can buy you a home in Denver?

StorageCafe says that if you're hoping to afford a house in the Mile High City, you might want to consider becoming a marketing manager.

Marketing managers in the Denver area earn up to $162,980, making it the seventh-highest paying place they can live. Colorado Springs is another good option for marketing managers — they can make around $160,000 there.

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The report notes that, along with marketing, managers in finance, sales, and legal industries also have homebuying potential in Denver, stating that "these professions can save for a down payment in around four years."


Looking for some real estate relief? Check out 30 Colorado counties with the lowest home prices in the gallery below.

30 Colorado Counties With the Lowest Home Prices

According to U.S.News and World Rep, Colorado ranks 48th in the nation when it comes to affordable housing. That means there are a lot of places in the United State where you can live more cheaply. However, if you are looking for the lowest housing costs in Colorado, here is Credible's list of 30 counties in the state with the lowest home prices.

PICTURES: See Inside America's Jaw-Dropping Most Expensive Home

A staggering estate listed as "America's most expensive home" is currently listed for sale in Bel Air, Calif., for $295 million, and pictures show a one-of-a-kind home that's almost impossibly elaborate and massive. The 100,000-square-foot, 29-bedroom, 41-bathroom home will be the most expensive private residence sale in the U.S. if it brings that price, and that price tag comes with every conceivable amenity, including a private nightclub, full-service beauty salon, wellness spa, 10,000-square-foot sky deck, 400-foot glass-walled outdoor running track with a view of the city and a private movie theater with seating for more than 40 people.

 

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