8 Richest Neighborhoods in Colorado in 2023 | Most Expensive Places to Live in Colorado
We looked through all the latest data and found the richest neighborhoods in Colorado in 2023. This list of the most expensive places to live in Colorado accounts for the average cost of homes, average household incomes, and the overall cost of living in each city.
If you are curious about the most expensive neighborhoods in Colorado (or are interested in finding one to move to), then this article will highlight the most sought-after places in the Rocky Mountain State.
These upscale neighborhoods provide their residents with an ample list of amenities, including a mix of high-end shopping, premium ski resorts, some of the best golf clubs in the country, and exciting community activities.
So, let’s dive into our list of the most expensive neighborhoods in Colorado and see where the wealth is concentrated within the state.
Richest Neighborhoods in Colorado – Methodology
To determine the richest neighborhoods in Colorado, we prepared a comprehensive database of the latest facts and figures in 2023 that are associated with richness and wealth.
First, we gathered the stats on the cost of living in each city from the official government figures. Then, we factored in the average household income for each neighborhood.
Of course, a high salary and elevated cost of living does not necessarily mean that a place is “rich,” so we also looked at the average home prices in each neighborhood based on the real estate site Zillow.
We quantified all of these inputs and added up the scores of every neighborhood across the state to find the most expensive neighborhoods in Colorado.
The 8 Richest Neighborhoods in Colorado in 2023
8. Lone Tree
Population: 12,808
Cost of Living Index: 32% Above Colorado Average
Average Home Price: $1,022,609
Average Household Income: $173,000
Location: Check on Google Maps
Lone Tree starts off our list of the most expensive places to live in Colorado. Located on the northern border of Douglas County, Lone tree enjoys a reputation of being one of the most dynamic cities in Colorado.
Since it is located close to Denver, the city provides its residents with a perfectly balanced mix of urban living and a quiet suburban lifestyle.
Home prices in Lone Tree are actually the most affordable on this list of the richest neighborhoods in Colorado, with an average price of just over $1 million.
But, don’t be fooled as this community also features several 6+ bedroom estates for sale that are easily valued at over $2 million.
Meanwhile, Lone Tree’s highly rated public schools make this neighborhood very desirable for families looking to provide their children with a high-quality education.
If you’re a fan of high-end shopping, Lone Tree is home to Park Meadows, which is one of the area’s best luxury retail centers.
7. Niwot
Population: 4,588
Cost of Living Index: 33% Above Colorado Average
Average Home Price: $1,065,445
Average Household Income: $188,000
Location: Check on Google Maps
Niwot is a beautiful town only 15 minutes away from Boulder. It is also just 35 miles away from downtown Denver, which makes it one of the best and richest neighborhoods in Colorado that is located between these two large cities.
We even included Niwot in our latest update of the best towns and cities to live in Colorado.
It offers a relaxed and family-oriented vibe that easily draws in new residents. The expected job market growth in the next 10 years is also expected to be 44.6% which is higher than the US average.
In your leisure time here, you can visit the Lake Valley Golf Club, which is celebrated as one of the best golf clubs in all of Colorado.
As far as Niwot’s housing market goes, you can expect to find large upscale homes priced north of $3 million, although there are a handful of options available under $1 million as well.
6. Genesee
Population: 3,625
Cost of Living Index: 48% Above Colorado Average
Average Home Price: $1,221,159
Average Household Income: $206,000
Location: Check on Google Maps
Genesee is maybe best described by its name, which translates to “pleasant valley” in Seneca.
It is located about 25 minutes west of Denver in the foothills of the Rocky Mountains.
Genesee probably features the rawest and most mountainous vibes on this list of richest neighborhoods in Colorado and is surrounded by beautiful mountain scenery.
Residents here describe this small town as a family-oriented gem with a lot of cultural and outdoor activities to enjoy.
It also offers amazing hiking and camping spots that are rich with nature and wild animals. For example, there is Genesee Park, which is said to be one of the most beautiful parks across the entire state.
5. Vail
Population: 5,363
Cost of Living Index: 34% Above Colorado Average
Average Home Price: $1,471,599
Average Household Income: $140,000
Location: Check on Google Maps
Vail is an opulent mountain town that sits right on Vail Mountain, making it a true winter paradise.
People who enjoy luxurious ski trips flock to this town to spend their time at Vail Ski Resort, which is the third-largest resort in America.
Vail is also known for its rich culture. For example, the town hosts the annual Vail Film Festival, where you can see movies from independent creators and enjoy a bit of the gala life.
Celebrities and VIPs often visit Vail for its amazing greenery in the spring and summer as well.
But, this exclusivity sure does come with a high price tag. It is typical to see some high-end homes in Vail being offered at prices around $30 million to $40 million+.
4. Greenwood Village
Population: 15,208
Cost of Living Index: 67% Above Colorado Average
Average Home Price: $1,440,857
Average Household Income: $213,000
Location: Check on Google Maps
Greenwood Village is an upscale community in southern Denver and is one of the most expensive neighborhoods in Colorado in the Denver metro area.
It is also the largest place on this list with 15,208 permanent residents.
Greenwood Village is only a 20 minute drive from downtown Denver and is well-known as a quiet community for families. It offers low crime rates and some of the best public schools in the area.
It even features its own art museum, The Madden Museum of Art, which features a permanent collection from American painters that is worth an estimated $10 million.
Homes in this area don’t go on sale often, but when they do, don’t be surprised about the premium that they can command.
For instance, the most expensive home listed now is a sprawling $21 million estate with its own lake.
3. Columbine Valley
Population: 1,190
Cost of Living Index: 64% Above Colorado Average
Average Home Price: $1,555,737
Average Household Income: $265,000
Location: Check on Google Maps
Columbine Valley is the smallest town on our list of the most expensive neighborhoods in Colorado with just 1,190 residents.
It was also ranked 8th on the list of best neighborhoods to raise a family and 12th on the list of best places to retire.
Columbine Valley is situated about 25 minutes south of Denver, which makes it close enough to the city, yet far enough for its residents to enjoy a quiet area.
The community also offers plenty of green spaces, such as Chatfield State Park as well as the Denver Botanic Gardens at Chatfield Farms.
2. Aspen
Population: 6,788
Cost of Living Index: 26% Above Colorado Average
Average Home Price: $2,694,090
Average Household Income: $138,000
Location: Check on Google Maps
Aspen is probably the most luxurious ski town in the US (and in the whole world) and comes in 2nd place on our list of the richest neighborhoods in Colorado.
It is located deep in the heart of the Rocky Mountains on the eastern part of the White River National Forest. What was once a small ski resort has transformed into the go-to place for the world’s top jet-setters.
Aspen exudes an aura of glitz and glamor throughout its whole community. For instance, Aspen’s South Mill Street is viewed by some as being even more exclusive than Rodeo Drive.
Surprisingly enough, the cost of living in Aspen is actually the lowest on this list.
But, that is only a benefit for those who can afford a house in Aspen. Exclusive ski homes routinely sell for $40 million to $50 million while the most expensive home ever sold in Aspen fetched an incredible $72.5 million in 2021.
No wonder why Aspen is a well-known retreat for many of the billionaires of the world.
1. Cherry Hills Village
Population: 6,414
Cost of Living Index: 112% Above Colorado Average
Average Home Price: $2,687,779
Average Household Income: $417,000
Location: Check on Google Maps
Cherry Hills Village tops our list as the richest neighborhood in Colorado. This quiet small town has a lot to offer for those who can afford it.
It was ranked 4th on Bloomberg’s annual review of the richest places in the entire nation. Cherry Hills Village also has the largest average household income on our list with a whopping $417,000.
This neighborhood is located just 20 minutes south of Denver and is a neighbor to other expensive places on this list like Columbine Valley and Greenwood Village.
Residents here can enjoy numerous community activities such as the Annual Winter Celebration, Annual Exotic Car Show, and Outdoor Movie Night.
While it may not offer the same ultra-expensive housing options that Aspen does, Cherry Hills Village features more consistently high-priced properties throughout its community. “Normal” 4-5 bedroom homes can go for as much as $5 million and large mansions with tons of acres can go as high as $25 million.
Cherry Hills Village also has the highest cost of living out of any place on this list, making it the most expensive place to live in Colorado.
Richest Neighborhoods in Colorado – Summary
Overall, the most expensive neighborhoods in Colorado are:
- Cherry Hills Village
- Aspen
- Columbine Valley
- Greenwood Village
- Vail
- Genesee
- Niwot
- Lone Tree
We hope that this article has given you a deeper insight into the richest neighborhoods in Colorado from a fact-based perspective in case you are looking to relocate to one of them.
The luxurious amenities that these communities offer, such as spas, ski resorts, golf clubs, and premium community activities, are sure to be something to get very excited about.
