The average home price in Denver hit another record high in April, reaching $393,615. A recent Zillow analysis might point to one of the reasons: Denver is among the top ten cities with a high concentration of wealthy millennials, those with household incomes of $350,000 or more. The city ranks No. 6 in the U.S. for this demographic, just behind Arlington, VA; San Francisco; Huntington Beach, CA; Sunnyvale, CA (tie); Seattle, WA (tie) and Pasadena, CA. Even though Denver prices are at record highs, Denver remains less expensive than these cities. Median home prices in Pasadena, CA, and Huntington, CA are more than $700,000. And San Francisco and Sunnyvale, CA, both boast median home prices greater than $1 million.