Denver real estate vs inflation: did it beat the dollar?
153% × 46%
Updated June 1, 2026 · Redfin · BLS / FRED (CPIAUCNS)
Since 2013, Denver real estate is up 153% while U.S. consumer prices rose 46%. Denver real estate far outpaced inflation — but the ride was brutal: its worst drop was 22%. Figures in U.S. dollars.
Base 100 since 2013
Why compare Denver home prices (US$/m²) and U.S. inflation (CPI-U)
Denver is a mid-to-upper-tier Mountain West market that boomed through the 2010s as the Front Range drew newcomers with its outdoor lifestyle, a diversified economy spanning aerospace, energy, technology and healthcare, and a central location. Prices rose strongly over the decade as population growth outpaced new construction. It came through the 2008 downturn with a milder decline than many coastal and Sun Belt markets, then appreciated steadily for years. Like other inland boomtowns, it ran especially hot during the post-2020 surge before cooling as mortgage rates climbed.
Returns by window
| Window | Denver home prices (US$/m²) | U.S. inflation (CPI-U) |
|---|---|---|
| 1 year | 1% | 4% |
| 5 years | -2% | 24% |
| 10 years | 55% | 39% |
| since 2013 | 153% | 46% |
The price of return: risk
| Asset | Annual volatility | Worst drop |
|---|---|---|
| Denver real estate | 12% | -22% |
| Inflation (CPI) | 1% | -2% |
$10,000 in each, since 2013
| Asset | Value today |
|---|---|
| Denver real estate | $25,281 |
| Inflation (CPI) | $14,553 |
Frequently asked questions
Did Denver real estate beat inflation?
Over the period, Denver real estate returned 153% while U.S. consumer prices rose 46%. The gap is what the asset earned beyond simply keeping pace with the dollar.
Does this account for the dollar losing value?
Yes. The inflation line is U.S. CPI, the measure of how much purchasing power the dollar lost over the same period. Returns above that line are gains in real terms.
Does a higher return mean a better investment?
Not on its own. A higher return came with higher risk here — the volatility and the largest drop on this page show how much the value swung along the way.
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Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.