Centennial Home Prices: $618K, Down 2.5% — 4 ZIPs Analyzed (2026)
Prices dropped for the tenth straight month in Centennial. The median home value hit $617,730 in February 2026, down 2.5% from a year earlier. For buyers who’ve been priced out of the Denver metro, that’s $16,000 off the peak — and the slide isn’t over yet.
Quick answer: The average home price in Centennial, CO is $617,730 as of February 2026, down 2.5% year over year according to Zillow.
Current Home Prices in Centennial
| Metric | Value |
|---|---|
| Median home value | $617,730 |
| Year-over-year change | -2.5% |
| Lowest ZIP median | $546,396 |
| Highest ZIP median | $685,468 |
| ZIP codes tracked | 4 |
| Data as of | February 2026 |
The average home price in Centennial sits at $617,730. That’s a $139,072 spread between the cheapest and most expensive neighborhoods, which means where you buy matters almost as much as when.
A year ago, a typical Centennial home was worth roughly $633,700. The 2.5% decline translates to about $15,900 in lost equity for existing homeowners. For buyers, it’s $15,900 less you need to finance.
Centennial remains part of the Denver-Aurora-Lakewood metro area, where price corrections have been uneven. Some suburbs held steady. Centennial didn’t. The all-time high in this dataset was $704,889, recorded in March 2025 for the priciest ZIP code. Since then, every ZIP has pulled back.
Centennial Home Prices by Neighborhood
| ZIP Code | Median Home Value | Monthly Rent |
|---|---|---|
| 80015 | $546,396 | $2,608 |
| 80112 | $612,805 | $1,914 |
| 80122 | $626,252 | $2,170 |
| 80121 | $685,468 | $2,155 |
Most Expensive
80121 leads Centennial at $685,468 — roughly 11% above the city median. Despite having the highest home values, rents here run $2,155 per month, actually less than the cheapest ZIP. That gap between price and rent suggests buyers in 80121 are paying a premium for ownership that doesn’t translate to rental demand.
Most Affordable
80015 is the entry point at $546,396, about $71,000 below the city average. It also has the highest rents at $2,608, which creates an unusual dynamic: strong rental income potential relative to purchase price. If you’re an investor, this is the ZIP to watch.
80112 falls in the middle at $612,805 but has the lowest rent in the city at $1,914. That’s a tough combination for landlords — high purchase price, low rental return.
Rent vs Buy in Centennial
The average rent across Centennial’s four tracked ZIP codes comes out to roughly $2,212 per month.
Now compare that to buying. A mortgage on a $617,730 home with 20% down ($123,546) leaves a $494,184 loan. At a 7% rate on a 30-year fixed mortgage, your monthly principal and interest payment runs about $3,288. Add property taxes and insurance, and you’re looking at $3,800 or more.
| Monthly Cost | |
|---|---|
| Average rent | $2,212 |
| Estimated mortgage (P&I) | ~$3,288 |
| Difference | ~$1,076 |
Renting saves you over $1,000 per month in cash flow. That doesn’t account for equity building or tax benefits of ownership, but the gap is wide enough that renting makes financial sense for anyone not planning to stay at least five to seven years.
One oddity in the data: ZIP 80015 has the lowest home prices but the highest rents. If you’re renting there, you’re paying $2,608 — just $400 less than what a mortgage would cost on a home in that same ZIP. Buying in 80015 is closer to break-even than anywhere else in Centennial.
Population Growth and Migration
Centennial’s population stood at 108,853 in 2024. Growth has been modest — just 0.6% over four years.
| Year | Population |
|---|---|
| 2020 | 108,202 |
| 2021 | 107,402 |
| 2022 | 107,508 |
| 2023 | 109,063 |
| 2024 | 108,853 |
The city actually lost about 800 residents between 2020 and 2021, then slowly recovered. The 2023 bump to 109,063 was the peak, and 2024 dipped slightly from there. This isn’t a city with a population problem, but it’s not a boomtown either.
Compare that to nearby Colorado cities:
| City | 2024 Population | 4-Year Growth |
|---|---|---|
| Greeley | 114,363 | 4.6% |
| Aurora | 403,130 | 4.2% |
| Thornton | 146,689 | 3.2% |
| Colorado Springs | 493,554 | 2.5% |
| Denver | 729,019 | 1.6% |
| Centennial | 108,853 | 0.6% |
Centennial’s growth rate trails every major city on this list. Greeley grew nearly eight times faster. That flat population means housing demand isn’t surging from migration — one reason prices are softening while some neighboring cities hold firm.
Centennial Housing Market Trends
Here’s how the average home price in Centennial has moved month by month over the past year:
| Month | Average Value | Low ZIP | High ZIP |
|---|---|---|---|
| Mar 2025 | $633,739 | $563,801 | $704,889 |
| Apr 2025 | $629,924 | $559,807 | $700,702 |
| May 2025 | $626,037 | $555,631 | $696,429 |
| Jun 2025 | $622,935 | $552,064 | $693,004 |
| Jul 2025 | $620,343 | $549,051 | $690,149 |
| Aug 2025 | $618,779 | $547,390 | $688,321 |
| Sep 2025 | $618,092 | $546,830 | $687,255 |
| Oct 2025 | $618,104 | $547,180 | $686,621 |
| Nov 2025 | $618,199 | $547,568 | $685,942 |
| Dec 2025 | $618,437 | $547,924 | $685,802 |
| Jan 2026 | $618,569 | $547,509 | $686,118 |
| Feb 2026 | $617,730 | $546,396 | $685,468 |
The pattern is clear: a steep drop from March through August 2025, then a plateau from September onward. The city lost about $16,000 in value over 12 months, but most of that decline happened in the first half. The last six months have been nearly flat, with values hovering between $617,700 and $618,600.
Both the cheapest and most expensive ZIPs followed the same trajectory. No neighborhood bucked the trend.
Is Centennial a Good Place to Buy in 2026?
The data points toward a buyer’s market. Prices are down, and the decline has been consistent — not a one-month blip. Year-over-year, you’re paying 2.5% less than buyers did in early 2025.
The flattening trend since September is worth watching. The steep monthly drops of $3,000-$4,000 from spring 2025 have slowed to under $1,000. That suggests the market is finding a floor, not in free fall.
If you’re a buyer, timing favors you but urgency doesn’t. Prices aren’t crashing. They’re grinding lower. Waiting another three months might save you a few thousand, but it won’t save you $50,000.
For sellers, the window to get top dollar closed in early 2025. Listing now means competing in a softening market where buyers hold the upper hand.
Centennial Housing Market Outlook for 2026-2027
The three-month trend from December 2025 through February 2026 shows declines of roughly $300-$800 per month. That’s a crawl compared to the $3,000-$4,000 monthly drops in spring and summer 2025.
If the current pace continues, expect Centennial’s median to drift into the $614,000-$616,000 range by mid-2026. The data doesn’t support a rebound — population growth is flat, and nothing in the 12-month trend suggests a reversal.
The floor appears to be forming. The spread between monthly values has narrowed to under $1,000 for the past five months. A sharp drop or a sudden recovery would both be surprises based on what this data shows.
Spring and summer typically bring higher transaction volumes. Whether that seasonal demand is enough to stabilize or reverse the trend will become clear by June 2026.
Similar Markets in CO
If you’re exploring the Denver metro and beyond, here are other Colorado markets to compare:
- Aurora — Centennial’s neighbor to the north, with significantly faster population growth at 4.2%.
- Denver — The metro anchor. More expensive, but with a deeper inventory pool.
- Thornton — North Denver suburb growing at 3.2%, worth checking if you want more price movement.
- Highlands Ranch — Centennial’s southern neighbor and a direct comp for suburban buyers.
- Littleton — Another south metro option in the same school district corridor.
Frequently Asked Questions
What is the average home price in Centennial?
The average home price in Centennial is $617,730 as of February 2026. Prices range from $546,396 in ZIP code 80015 to $685,468 in ZIP code 80121. That’s a $139,000 spread across just four ZIP codes.
Are home prices going up or down in Centennial?
Down. Centennial home prices have fallen 2.5% year over year. The decline started in March 2025 when the median was $633,739 and has continued every month since. The rate of decline has slowed considerably since September 2025.
Is it cheaper to rent or buy in Centennial?
Renting is cheaper by a wide margin. The average monthly rent across Centennial is about $2,212, while a mortgage on the median-priced home runs roughly $3,288 per month in principal and interest alone. That’s over $1,000 per month in savings for renters.
What is the most affordable neighborhood in Centennial?
ZIP code 80015 is the most affordable area with a median home value of $546,396. It’s about 12% below the city-wide median. Interestingly, 80015 also has the highest rents at $2,608 per month, making it the closest to a rent-buy break-even point in the city.
Methodology
Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.