1st Advantage MortgageA DSCR loan in Aurora turns on rent versus payment. Citywide medians from the Census are $1,835 a month for rent, $469,100 for home value and $2,457 a year for real estate taxes.
Market snapshot for Aurora
A DSCR lender in Aurora is comparing a rent against a payment, and the citywide benchmarks are a median gross rent of $1,835 and a median home value of $469,100. The rent figure is close to the Colorado median of $1,761. Annual median rent is about 4.7% of the median home value in Aurora. That is on the low side, so the payment, not the rent, usually decides whether a file clears, but it blends every housing type, so a house on a specific street needs its own rent comparables.
| Indicator | Colorado | Aurora | Difference |
|---|---|---|---|
| Persons per household | 2.42 | 2.70 | |
| Share in 2-4 unit buildings | 4.7% | 4.6% | -3% |
| Share of homes detached | 61.4% | 53.1% | -14% |
| Long commuters, 45 min plus | 14.1% | 16.5% | +16% |
| Degree holders, age 25+ | 45.7% | 33.6% | -26% |
| Workers on their own account | 11.3% | 9.3% | -18% |
| Renters paying 30%+ of income | 52.9% | 60.3% | +14% |
| Units sitting vacant | 8.3% | 4.6% | -44% |
| Typical construction year | 1988 | 1985 | |
| Annual rent divided by value | 3.9% | 4.7% | +20% |
| Tax as a share of home value | 0.48% | 0.52% | +9% |
| Annual property tax bill, median | $2,602 | $2,457 | -6% |
| Typical owner-occupied value | $539,400 | $469,100 | -13% |
| Typical monthly rent | $1,761 | $1,835 | +4% |
| Residents (Census estimate) | 5,862,189 | 394,432 |
Roughly 37.6% of occupied housing in Aurora is rented, about 11% above the Colorado median of 34%. Median household income is $88,368, close to the Colorado median of $95,470, and 60% of renter households pay 30 percent or more of income on rent.
Homes, buildings and vacancies in Aurora
Only 53% of units in Aurora are detached houses. The rest is townhomes, duplexes and apartments, with two to four unit buildings at 5% of the total. With 1985 as the median build year, expect aging HVAC and roofs and ask for the dates of the last replacements.
The Census counts 5% of Aurora housing units as vacant, with a rental vacancy figure of 5.4%.
Underwriting angles in Aurora
Yields near 4.7% make Aurora a market for careful buyers. The ratio can still work, usually through a lower loan amount, a rent above the median or a property with several units. With a 1985 median build year, the question for each property is when the roof and HVAC were last replaced. A 38% renter share is large enough to keep units leased, so location relative to jobs and schools drives rent more than the market as a whole.
Carrying costs in Aurora
In Aurora the median tax bill for an owner-occupied home is $2,457, or about 0.52% of value (Colorado overall: 0.48%). That bill is close to the Colorado median of $2,602. Set beside the median rent, the tax alone consumes about 11% of annual rent.
Insurance follows risk. FEMA's National Risk Index lists Arapahoe County as relatively moderate overall, with hail (very high), lightning (very high) and tornadoes (relatively high) as the main drivers.
| Hazard in Arapahoe County, FEMA index | Level |
|---|---|
| Strong wind exposure | Relatively High |
| Tornadoes exposure | Relatively High |
| Lightning exposure | Very High |
| Hail exposure | Very High |
| Social vulnerability score | Very Low |
| Annualized loss estimate | Relatively Moderate |
| Composite risk | Relatively Moderate |
Insurance belongs in the ratio from day one, so get a landlord quote for the Aurora address and ask about roof age, wind or hail deductibles and flood cover.
The ratio in Aurora dollars
At the city medians a DSCR file in Aurora has $1,630 a month after taxes to cover principal, interest, insurance and dues if the ratio is 1.00, or $1,263 if the ratio is 1.25. Those two numbers show why insurance quotes and tax estimates come first.
Landlord and short-term rental rules in Aurora
Aurora defines a short-term rental as lodging rented for under 30 days and requires a city business and lodger's tax license before listing, with the license number shown in the listing. The city code limits the use to the host's primary residence, allows one booking at a time, and caps whole-home rentals at 180 days in a 365-day period, so a typical investment property does not fit the nightly model. Nightly stays carry state tax in Colorado. Colorado requires a sales tax license for an owner who rents rooms or accommodations, with tax generally due on stays under 30 consecutive days, and a marketplace that collects for the owner typically covers state, local and lodging taxes, while county or city lodging filings can be separate.
Colorado limits what a Aurora owner may hold as a deposit: 2 months' rent (since Aug 7, 2023). The statute is C.R.S. §§ 38-12-102.5, 38-12-103 (as amended by HB25-1249, eff. Jan 1, 2026). After move-out, the Aurora owner has 30 days to return the deposit or account for deductions. As to caps on rent in Aurora: No; counties and municipalities are prohibited from enacting rent control (C.R.S. 38-12-301).
Where Aurora sits among nearby places
Looking across the table, values run from $517,500 (Thornton) up to $658,100 (Centennial), and Aurora lands at $469,100.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Thornton | 29% | $2,911 | $517,500 | 144,187 | $1,895 |
| Parker | 28% | $3,568 | $646,300 | 61,783 | $2,096 |
| Centennial | 19% | $3,588 | $658,100 | 108,201 | $2,148 |
| Denver | 51% | $2,751 | $616,000 | 718,877 | $1,831 |
| Aurora | 38% | $2,457 | $469,100 | 394,432 | $1,835 |
Tenants, jobs and anchors in Aurora
The self-employed share of the workforce is 9.3%, and those owners tend to be exactly the buyers DSCR financing was built for. Three more data points: government workers are about 12% of employment, 34% of adults hold a bachelor's degree or higher and 16% of commuters travel 45 minutes or more.
Among the employers recorded for Aurora: Buckley Space Force Base, Anschutz Medical Campus, University of Colorado Hospital, Aurora Public Schools and Cherry Creek Schools. Those payrolls shape which neighborhoods lease fastest. Campuses such as University of Colorado Anschutz Medical Campus, Community College of Aurora and Colorado Technical University pull tenants into Aurora, and landlords near them can plan around move-in seasons. Aurora offers interstate access via I-225 and air service through Stapleton International Airport, details that affect commute times and how easily a distant investor can inspect a property.
Moving from numbers to a Aurora loan
Bring the Aurora numbers to a loan officer: the rent, the taxes, the insurance and your reserves. Apply online or ask for a quote, and use the calculator to preview the ratio.
More Colorado markets
- All Colorado DSCR loans
- DSCR loans in Denver, CO
- DSCR loans in Centennial, CO
- DSCR loans in Parker, CO
- DSCR loans in Thornton, CO
- Every market we cover
Where we checked
- Aurora City Code 26-220
- Colorado landlord deposit rules, C.R.S. §§ 38-12-102.5, 38-12-103 (as amended by HB25-1249, eff. Jan 1, 2026)
- Lodging tax reference: Colorado Department of Revenue, rooms and accommodations
- 2020 to 2024 ACS data used for Aurora
- National Risk Index entry, Arapahoe, Adams and Douglas Counties
- Aurora overview (Wikipedia)
- Aurora short-term rentals FAQ
We took the Aurora data from Census ACS five-year tables for 2020 to 2024, estimates with margins of error. The Colorado legal summaries are from the RedFlagLease dataset, licensed CC BY 4.0, with statute links. Last reviewed October 2026; the city and county have the final word on Aurora rules.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Which rent counts when I finance a Aurora property?
On most files the lender uses the lower of the signed lease rent and the appraiser's market rent for the address in Aurora. For orientation, the Census median gross rent here is $1,835 a month.
Do taxes and insurance count in the Aurora DSCR ratio?
Taxes, insurance and dues are inside the payment the lender tests. Run $1,835 through a 1.25 ratio and the ceiling is about $1,468; subtract $205 for median taxes and $1,263 remains.
What do Aurora owners pay in real estate taxes?
About $2,457 a year at the median, which is 0.52% of value and close to the Colorado median of $2,602. Reassessment after a purchase can move that number, so get an estimate for the actual price.
What about VRBO or Airbnb income on a Aurora purchase?
Where lender guidelines allow it, yes, with platform history or a market projection. First confirm that Aurora and any HOA permit stays under 30 days, and that you can register for Colorado lodging tax.
What deposit rules apply to a CO rental?
Colorado limits deposits this way: 2 months' rent (since Aug 7, 2023). Return is due within 30 days after the tenant leaves. The governing section is C.R.S. §§ 38-12-102.5, 38-12-103 (as amended by HB25-1249, eff. Jan 1, 2026).
How exposed is Aurora to natural hazards?
FEMA's index puts the county at relatively moderate overall. A lender cares about the premium and any flood requirement, which are address-specific in Aurora.
Do I need an LLC to buy a rental in Aurora?
No, but it is common. Entity borrowers supply articles, an operating agreement and an EIN letter, and the owners typically guarantee the loan. A Colorado attorney can advise on structure.