Aurora CO Real Estate: What You Need To Know

For everyone who might not have heard of Aurora, it sits directly to the East of the City of Denver and is not only one of the fastest-growing metro-Denver locales, but also a bastion of affordability in a state that can seem expensive to many. So, Denver’s growth has pulled back a bit over the last couple of years, but does that include the suburbs? And how will Denver fare in the next year? Below, we’ll take you through a quick breakdown of the Aurora, CO real estate market over the past few years, and where it might be headed this year.

Looking for investment opportunities in the rental market?

Aurora market snapshot 2022–2025

The table below gives a little background on how real estate and rental prices have fluctuated over the past 5 years.

These numbers show a market that is stable, slightly softer than peak post-pandemic pricing. As Aurora is generally considered a more affordable location than the City of Denver, the entry prices are low, and thus, investor interest is increasing daily.

Why Aurora real estate matters to investors in 2026

While it often sits in Denver’s shadow, Aurora has quietly developed fundamental concepts that make it attractive to real estate investors seeking strong rental demand and reasonable entry prices. Unlike resort towns driven by tourism or urban cores driven by speculation, Aurora’s growth is tied to consistent, real-world demand from workers. Therefore, like much of metro Denver, Aurora offers stability at a more affordable entry price.

• Affordability compared with Denver. Aurora’s median-priced homes are well below Denver’s median price of over $600,000, allowing investors to buy real estate at a much lower price point and generate higher rent-to-value ratios and greater first-year returns on investment.
• Proximity to major employment hubs. Located just 20–30 minutes from central Denver and bordering neighborhoods like Stapleton and Aurora Highlands, the city attracts commuters who want access to jobs without paying Denver premiums.
• Institution-driven rental demand. Rental demand is driven by institutions rather than tourists. Travel nurses, researchers, military personnel, and contractors employed or working at the University of Colorado Anschutz Medical Campus and Buckley Space Force Base require short-term (30-180 day) housing solutions throughout the year.
• Balanced inventory conditions. While listings have increased compared with the boom years, Aurora has avoided the oversupply seen in downturn markets. This moderation supports pricing stability and gives investors more negotiating power without sacrificing demand.

Together, these factors explain why Aurora continues to draw a mix of owner-occupants, long-term landlords, and mid-term rental operators who value predictable demand and practical investment math.

Property taxes and the cost of ownership in Aurora

Colorado’s property tax structure is one of the quiet advantages for real estate investors, and Aurora benefits directly from it. Unlike many states, where property taxes climb rapidly alongside home values, Colorado calculates taxes based on an assessed value that is only a fraction of market value. For residential property, that assessment rate is currently around 6.95%–7.15% of market value, depending on legislative adjustments, and then multiplied by the local mill levy.

In practical terms, most Aurora homeowners end up paying an effective property tax rate close to 0.5% of the home’s market value, significantly lower than what investors see in states like Texas, Illinois, or New Jersey.

How the math works

Aurora’s property tax calculation follows an easy-to-follow three-step process that keeps taxes relatively low compared with many other states.

First, the county does not tax the full market value of your home. Instead, it calculates an assessed value equal to roughly 7% of the property’s market price. This smaller number is what becomes taxable.

Next, that assessed value is multiplied by the local mill levy (about 70 mills, or 0.07). This determines the actual annual tax bill.

Most Aurora homeowners will also see that when they put in the calculations from both of these equations, the end result is that most will pay about 0.05 percent, or roughly half a percent, of the market value of their homes every year. This helps keep property taxes low and predictable for investors who are looking at long-term cash flow and/or mid-term rental returns from their investments in Aurora.

Step	Formula	What it means
Assessed value	Market value × ~7%	The taxable portion of the home’s value
Property tax	Assessed value × local mill levy (~70 mills or 0.07)	Determines annual tax bill
Effective rate	≈ 0.5% of market value	What owners realistically pay

To show you how real estate and property taxes work in Aurora, let’s go through two examples. These scenarios show how the assessment formula translates into predictable, manageable annual costs that support healthy rental margins.

Example 1: $450,000 single-family home

On a typical $450,000 Aurora home, the property tax burden lands just over $2,200 per year, roughly $184 per month. For investors, this is where Aurora’s advantage becomes clear. With long-term rents often hovering around $2,000 per month and mid-term rents even higher, property taxes represent a small, predictable portion of the overall expense profile, helping preserve healthy cash flow.

Example 2: $550,000 newer home in Murphy Creek

Even at a higher price point like $550,000 in a newer community such as Murphy Creek, annual property taxes stay below $2,700, under $225 per month. For a home that can command strong long-term or mid-term rental rates, this modest tax load supports stable margins and makes higher-quality properties financially viable for investors focused on long-term appreciation and reliable tenants.

Short-term rentals in Aurora: more flexible than Denver

Aurora has much greater flexibility regarding short-term rentals (STRs) than the City of Denver. Aurora will allow non-owner-occupied STRs to operate in many residential zoning districts, provided the host complies with all licensing, safety, and tax requirements. The “non-primary-resident” stipulation in some zones is what really makes it a great play for STR investors. Hosts still need to register the property, follow occupancy rules, and collect and remit the appropriate lodging and sales taxes.

Because many guests come for work, training, or extended medical stays rather than for tourism, Aurora STRs often experience steadier year-round occupancy rather than the seasonal swings common in resort markets.

Example: 3-bed STR near Anschutz Medical Campus

Consider a $520,000 three-bedroom home located 8 minutes from the Anschutz campus. The property is set up for professional guests, with driveway parking, a dedicated workspace, and full kitchen amenities.

Metric	Value
Average nightly rate	$185 / night
Average occupancy	14 nights per month
Estimated annual booked nights	~168 nights

Gross annual income:
$185 × 168 nights = $31,080

Estimated annual STR expenses:

Expense	Estimated Annual Cost
Cleaning & turnovers	~$4,000
Lodging & sales tax (~17–18%)	~$5,500
Utilities, supplies, Wi-Fi	~$2,400
Maintenance reserve	~$1,500

Total expenses: ~$13,400
Net income: ~$17,600 per year

Mid-term rentals: Aurora’s strongest investment play

Mid-term rentals (typically 30–90+ day stays) are one of the most straightforward opportunities for Aurora investors. The Anschutz Medical Campus and Buckley Space Force Base create a constant stream of professionals who require housing for several weeks to months at a time. Travel nurses, medical researchers, military contractors, and trainees are all in the Aurora area and constantly searching for convenient, furnished housing.

Therefore, mid-term rentals in Aurora typically have higher monthly rent than unfurnished long-term leases, but do not have the same residency and licensing restrictions as many short-term rental markets. A mid-term rental strategy combines the rental income of short-term rentals with the compliance and predictability of long-term rentals.

Long-term rentals in Aurora

Long-term rentals still make up the majority of Aurora’s rental market and remain a good choice for those seeking simple, stable real estate investments. Because average monthly rent in many areas is over $2000, and because many areas offer affordable home prices relative to Denver, long-term leases can provide consistent cash flow with low turnover.

Properties near employment hubs, light rail, or major highways typically rent more quickly and for more money than those farther from these amenities. Families with children may seek out the suburbs when searching for long-term rentals and predictable living arrangements; however, the premium for renting in these areas is lower than that for mid-term rentals. Investors who want a steady income and appreciate that their property value increases gradually will find this an attractive option.

Where to invest: Aurora neighborhoods

Of course, just as the City of Denver does, Aurora has submarkets. Some are nicer than others, some cheaper than others, but all could be considered a smart play over the long term.

Neighborhood	Pros	Cons
Aurora Highlands / Anschutz corridor	Strong demand from medical professionals; ideal for mid-term rentals; low vacancy risk	Higher prices; growing investor competition
Centretech / Buckley corridor	Reliable demand from military families and contractors; affordable entry prices; suitable for MTR and LTR	Less walkability; slower appreciation
Tollgate Creek / Summer Valley / South Aurora	Family-oriented; stable long-term tenants; predictable appreciation	Not ideal for STR or MTR due to distance from job hubs
Northwest Aurora (80010 / older areas)	Lowest entry prices; strong rent-to-price ratios; good for value-add or house hacking	Older homes; more variability block to block
Murphy Creek / newer communities	Modern homes; strong tenant profiles; steady long-term appeal	HOA fees; less suited for STR or MTR

Future outlook: Where Aurora is heading

Looking into 2026, Aurora’s housing market appears balanced. With a slightly softened home value trend, typical home values around ~$450K, and manageable inventory, buyers and investors alike have room to operate without the intensity of past bidding wars.

Rents remain strong, and with demand from renters tied to jobs in the healthcare and military sectors, fundamentals are stable. As mortgage rates normalize, buyer demand may rise, strengthening resale values. Aurora’s long-term prospects are underpinned by its role as a key hub in the Denver metro area’s broader economy.

Should I invest in Aurora?

Aurora is not a speculative boom market; if it were, you would have seen ups and downs in property prices over the past decade or so, but you haven’t. Instead, you have seen steady overall growth with many more upswings than downswings. When looking at Aurora as an investment opportunity, three things stand out: If property prices continue to soften, the best deals in the Rocky Mountain West might be found in Aurora, Colorado.

It’s much more affordable than the City of Denver, but super close
It’s driven by the real economy rather than a tourist-related one
Its rental regulations are much more forgiving

If property prices continue to soften, the best deals in the Rocky Mountain West might be found in Aurora, Colorado.

FAQ

How affordable is Aurora compared with Denver?

The median sales price for a home in Aurora is around the mid-$400,000s at this time (late 2025). The median sales price for homes in Denver is significantly higher than that of Aurora at approximately $600,000+. The difference in sales prices is a key factor in creating an increased amount of entry-level yield for real estate investments as well as providing more options and alternatives for investors when it comes to financing and cash flow.

What types of renters are most common in Aurora?

There are several groups of people that make up the majority of the rental pool in Aurora. Those groups include: hospital and medical professionals who work at Anschutz Medical Center, military and contractors who work at Buckley Space Force Base, commuters to Denver for work, and local families. Due to the diverse groups of people living in Aurora, there is both strong long-term and mid-term rental demand, which helps reduce vacancy risk.