In the Colorado market specifically centered around Denver, garage-to-living-space conversions are currently considered a moderately popular option for homeowners. While they are a common choice for creating Accessory Dwelling Units (ADUs), they follow basement conversions, which currently hold the highest popularity in the region.
According to industry benchmarks and municipal data, here is how garage conversions compare to other options:
- Popularity Level: Moderate (compared to "High" for basement ADUs).
- Investment Range: Typically costs between $60,000 and $100,000.
- Rental Potential: Offers strong earning potential, typically ranging from $1,500 to $2,500 per month.
While popular, garage conversions in Denver are subject to specific regulatory requirements, such as a minimum lot size of 6,000 square feet for detached structures and strict setback rules. Homeowners often choose this route when seeking a detached living space that can provide higher rental yields than a basement unit.
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