(CBS4) — As remote work became the reality for many during the pandemic, Americans have shifted their priorities away from a short commute to work to more affordability. That’s according to new research by Zillow.
The data shows that people are desiring more space and better affordability, now that they have the flexibility to live farther from work.
Specifically, the data they collected shows that homes farther away from downtown Denver are increasing in value, while homes closer to downtown are seeing a smaller increase in value.
Here are some of their findings in the Denver metro:
- The median home within a 10-minute commute of downtown is worth $553,758. That’s $70,412 higher than in 2019.
- Since 2019, homes 71-80 minutes away from downtown have appreciated the most, up 32.6%.
- Since 2019, the coolest area of the metro has been 0-10 minutes from downtown, where homes are up 14.6%.
According to the data, this is due, in part, because people would rather have more outdoor space or another bedroom to convert into a home office, rather than have a quick commute to the office.