Drive Until You Qualify: How Young Homebuyers Are Pushing the Edges of Metro Living

As urban affordability disappears, Colorado’s next generation of homeowners is heading east  and redefining the American dream along the way.

When Kelly Morgan bought her first home at 27, it wasn’t in the trendy heart of Denver or a bustling new condo complex in Aurora. Instead, she landed 40 minutes outside the city in Bennett, Colorado a quiet exurban town where dark skies replace neon signs and the nearest brunch spot might be a 20-minute drive. For her, that trade-off was worth it.

“I didn’t think that buying a home was attainable at my age,” said Morgan. “But once I saw what I could afford in the city, the choice became clear.”

What she found in Denver aging condos with $600+ HOA fees, deferred maintenance, and price tags pushing $400,000 for a glorified shoebox pushed her further afield. In Bennett, she bought a brand-new, two-bedroom, two-story home with a garage for $375,000. It came with a longer commute, but also with peace, privacy, and a front-row view of Colorado’s famously wide skies.

The New Geography of Homeownership

Morgan’s story is quickly becoming the norm, not the exception. As prices in Denver and other metro areas skyrocket, a generation of homebuyers is embarking on a modern version of the Great Migration not across state lines, but outward along interstate corridors.

Call it “drive until you qualify.”

Builders like Oakwood Homes are responding with gusto. By focusing on affordability-first construction in places like Bennett, Strasburg, and Johnstown, they’re targeting a massive but long-ignored segment: first-time buyers.

“We obsess over cost,” said Ryan Smith, COO of Oakwood Homes. “If we can find land that’s cheaper, and build smarter, we can finally give younger buyers a way in.”

And it’s working. Developments like Muegge Farms in Bennett are selling quickly, often to young professionals priced out of even Denver’s aging condos. Oakwood’s strategy? Smaller footprints, factory-built components, and financing incentives that sweeten the deal in a high-interest rate environment.

From Starter Home to Survival Strategy

The desire to own isn’t just about building equity it’s also about survival in a brutal rental market. In Denver, the gap between renting and owning hit a jaw-dropping $1,300 a month last year, according to John Burns Real Estate & Consulting.

But the savings on rent come with a long-term cost: missed wealth. The median net worth of a U.S. homeowner is nearly 40 times higher than that of a renter, according to the Aspen Institute. For many millennials and Gen Z buyers, moving to the exurbs isn’t a choice it’s a financial imperative.

And yet, the new frontier isn’t without its challenges.

The Risks Behind the Rewards

Jody Malone, a Brighton-based real estate agent, cautions buyers to take off the rose-colored glasses before heading east. Starter homes on the fringes often mean less customization, no basements, limited resale potential, and slower development of amenities.

“Your favorite coffee shop isn’t coming anytime soon,” Malone said. “And your friends may stop coming altogether.”

Indeed, isolation, long commutes, and limited services have already begun to wear on some buyers who once embraced the quiet life. The urban-to-exurban shift is also bringing cultural friction, as longtime rural residents resist development and the city values that come with it.

Even Morgan acknowledges the change. “It’s peaceful, yes but I definitely miss the convenience.”

A Condo Comeback? Maybe.

One missing piece in the affordability puzzle has been condos traditionally the first rung on the housing ladder. But in Colorado, condo construction all but collapsed due to fears of construction defect litigation, driving up costs and slowing inventory.

That may finally change. A new state law signed this May aims to revive condo construction by reducing builder liability if higher construction and warranty standards are met. Gov. Jared Polis called the measure a game-changer, predicting it would unlock “thousands of new condos” across the state.

If successful, this could shift the dynamics again offering younger buyers a foothold closer to the city, and reducing the pressure pushing them into distant suburbs.

The Future of the First Home

The average age of first-time buyers is now 38 the highest on record, per the National Association of Realtors. Builders focused on starter homes, like Oakwood, are suddenly rarities in a market that long ago pivoted to luxury.

But the tide may be turning.

With remote work making longer commutes manageable, and buyers increasingly willing to trade proximity for possibility, the suburban perimeter is becoming a ring of opportunity. Developers see it as a new gold rush. Buyers see it as the only way out of the rent trap.

Morgan sees it as a beginning.

“I’m not saying I’ll be here forever,” she said. “But now I have something that’s mine. That’s more than I thought was possible.”

Takeaway:

As affordability crisis reshape urban housing markets, first-time buyers are venturing farther out and reimagining what homeownership looks like. From Bennett to Brighton, the exurbs are no longer just commuter zones; they’re the new American suburbs, built on the dream of equity, space, and maybe, just maybe, a little quiet.