Two of Colorado’s Most Prestigious Addresses
If you’re shopping for luxury real estate in South Denver, two names inevitably rise to the top: Cherry Hills Village and Greenwood Village. Separated by just a few miles along the I-25 corridor, these communities share sky-high property values and top-rated schools — yet they couldn’t feel more different when you drive through them.
Cherry Hills Village, incorporated in 1945, was built around the legendary Cherry Hills Country Club. It remains one of the most exclusive residential communities in the American West. Greenwood Village, meanwhile, has evolved from ranchland into a polished suburban hub where Fortune 500 offices sit alongside gated residential streets and upscale retail centers.
This guide breaks down the key differences — lot sizes, property taxes, schools, lifestyle, and home prices — so you can decide which South Denver luxury neighborhood truly fits your life.
Location & Geography
Cherry Hills Village sits between University Boulevard and Colorado Boulevard, stretching from Hampden Avenue south to Belleview Avenue. It’s roughly 10 miles south of downtown Denver, bordered by the Denver Country Club area to the north and Greenwood Village to the south and east. The community covers about 6.2 square miles of gently rolling terrain, with Little Dry Creek winding through lush, tree-lined properties.
Greenwood Village occupies a larger footprint — about 8.3 square miles — hugging the east side of I-25 from Belleview Avenue south to Arapahoe Road, then extending east toward the Denver Tech Center. Its geography is flatter and more commercially developed, though residential pockets like The Preserve and Heritage Greens feel remarkably secluded.
Both communities are in Arapahoe County, which matters for property tax calculations (more on that below). And both enjoy easy access to I-25, C-470, and the RTD light rail system — though Cherry Hills residents tend to value distance from major corridors rather than proximity to them.
Lot Sizes & Property Character
This is where the two communities diverge most dramatically.
Cherry Hills Village is famous for its minimum lot sizes — most residential zoning requires 2.5-acre minimums, with many estates sitting on 5 to 10+ acres. The result is a landscape that feels genuinely rural: horse pastures, private ponds, long driveways hidden behind mature cottonwoods, and virtually no commercial development. The city’s zoning code explicitly preserves this semi-rural character, and residents fiercely protect it.
Greenwood Village lot sizes vary more widely. In neighborhoods like Sundance Hills and Old Greenwood, you’ll find generous half-acre to one-acre lots with custom homes. Gated communities like The Preserve offer lots in the 0.3-to-0.75-acre range with newer construction. Closer to the DTC, some luxury townhome and villa developments sit on smaller footprints but offer lock-and-leave convenience.
If wide-open space and privacy are your non-negotiables, Cherry Hills wins hands down. If you want a manicured, low-maintenance luxury property with nearby retail and dining, Greenwood Village delivers.
Home Prices & Market Trends
Both communities command premium prices, but the ranges differ:
Cherry Hills Village: Median home prices hover around $2.8 million to $3.5 million, with trophy estates regularly listing between $5 million and $15 million. The most expensive sale in recent years topped $18 million. Inventory is perpetually tight — only 80 to 120 homes trade in a typical year across the entire city. Many properties are held for decades, creating a scarcity premium that keeps values climbing.
Greenwood Village: The median sits lower — around $1.2 million to $1.8 million — reflecting the broader mix of housing types. That said, custom estates in prime sections like Sundance Hills and The Preserve regularly sell for $2.5 million to $5 million. The higher transaction volume (300+ sales per year) means more options and slightly more negotiating flexibility for buyers.
Both markets have appreciated strongly over the past decade, with Cherry Hills outpacing most Colorado communities in percentage gains on upper-bracket homes.
Property Taxes
Since both communities sit in Arapahoe County, the county-level assessment is the same. However, mill levies differ because Cherry Hills Village and Greenwood Village have separate municipal tax rates, and they may fall in different school districts, metro districts, and special districts.
Cherry Hills Village has a notably low municipal mill levy — around 4.5 mills — because the city provides minimal services (no city water utility, limited commercial tax base). Residents pay for their own well water or tap into nearby utility districts. Total effective mill levies for a Cherry Hills property in the Cherry Creek School District typically land around 75–85 mills.
Greenwood Village has a slightly higher municipal levy — around 5.5–6.5 mills — but offers more city services, including a robust parks system, the Curtis Center for the Arts, and the Village Greens athletic complex. Total effective mill levies are similar, often in the 78–90 mill range depending on the specific metro district.
On a $3 million home with a 6.7% residential assessment rate, even a 5-mill difference translates to roughly $1,000 per year — meaningful but rarely a deciding factor at this price point.
Schools & Education
Education is a major draw for both communities. Most of Cherry Hills Village feeds into the Cherry Creek School District (CCSD), consistently ranked among Colorado’s top 3 districts. Key schools include:
- Cherry Hills Village Elementary — A small, community-focused school with high parent involvement
- West Middle School — Strong academics and extracurriculars
- Cherry Creek High School — One of Colorado’s largest and most decorated public high schools, with extensive AP offerings, nationally competitive athletics, and a renowned performing arts program
Greenwood Village is split between Cherry Creek School District and Littleton Public Schools, depending on exact location. Families in the CCSD portion enjoy the same schools as Cherry Hills residents. Those in the Littleton district attend highly regarded schools like Heritage High School and Powell Middle School.
Both communities also have easy access to elite private schools: Kent Denver School (actually located in Cherry Hills Village), St. Mary’s Academy, and Graland Country Day School nearby.
Lifestyle & Amenities
Cherry Hills Village Lifestyle
Cherry Hills is defined by its quiet, equestrian-friendly atmosphere. The city maintains over 45 miles of bridle trails, and it’s common to see horses on the roads (they have the right of way). The Cherry Hills Country Club, one of the most prestigious private clubs in the Western U.S., has hosted the U.S. Open, PGA Championship, and BMW Championship. Other private clubs in the area include Glenmoor Country Club and the Denver Country Club nearby.
There is virtually no commercial development within city limits — no grocery stores, no gas stations, no restaurants. Residents drive to adjacent areas for shopping and dining. This is by design and fiercely maintained through zoning.
The pace of life is slower and more private. Many properties have their own pools, tennis courts, and guest houses. Community events are low-key: the annual Fourth of July celebration, trail cleanups, and neighborhood gatherings.
Greenwood Village Lifestyle
Greenwood Village offers a more connected, amenity-rich experience. The Landmark at Greenwood Village provides upscale shopping and dining steps from many residential areas. Fiddler’s Green Amphitheatre hosts major concerts. The Greenwood Village Village Greens athletic complex offers pools, tennis courts, and fitness facilities for residents.
The city’s trail system connects to the regional High Line Canal Trail and Cherry Creek Trail, offering miles of paved paths for cycling and running. Several excellent restaurants — Elway’s, Shanahan’s, Del Frisco’s — are within a short drive.
The Denver Tech Center, Colorado’s largest suburban employment hub, sits partially within Greenwood Village, making commutes trivial for executives who work in tech, finance, or telecom.
Side-by-Side Comparison
| Feature | Cherry Hills Village | Greenwood Village |
|---|---|---|
| Median Home Price | $2.8M–$3.5M | $1.2M–$1.8M |
| Typical Lot Size | 2.5–10+ acres | 0.25–1 acre |
| Population | ~6,500 | ~16,000 |
| Area | 6.2 sq mi | 8.3 sq mi |
| School District | Cherry Creek | Cherry Creek / Littleton |
| Commercial Development | None | Extensive (DTC, Landmark) |
| Character | Semi-rural, equestrian | Upscale suburban |
| Municipal Mill Levy | ~4.5 mills | ~5.5–6.5 mills |
| Equestrian Trails | 45+ miles | Limited |
| Best For | Privacy, space, legacy estates | Convenience, dining, shorter commutes |
Who Should Choose Cherry Hills Village?
Cherry Hills is ideal for buyers who:
- Want maximum privacy and acreage — think multi-acre estates with room for horses, gardens, and guest houses
- Value a quiet, semi-rural atmosphere minutes from downtown Denver
- Are comfortable driving 10–15 minutes for groceries and dining
- Want access to elite private clubs (Cherry Hills CC, Glenmoor)
- Seek a long-term legacy property in one of the West’s most prestigious zip codes
- Have a budget of $2.5 million and up (realistically $3M+ for updated estates)
Who Should Choose Greenwood Village?
Greenwood Village is ideal for buyers who:
- Want luxury living with walkable access to shopping, dining, and entertainment
- Work in the Denver Tech Center and want a minimal commute
- Prefer a broader range of home styles — from luxury townhomes to custom estates
- Want excellent city services including parks, pools, and community facilities
- Appreciate newer construction options alongside established neighborhoods
- Have a budget of $1 million to $5 million with more inventory to choose from
Investment Outlook
Both communities have proven to be strong long-term investments. Cherry Hills Village benefits from permanent scarcity — the land is finite, lots are enormous, and the city has no interest in increasing density. This creates a floor under values that few communities can match.
Greenwood Village benefits from economic gravity — the DTC continues to attract corporate headquarters and high-paying jobs, which sustains demand for nearby luxury housing. The ongoing development of the RidgeGate area to the south has also pushed buyers back toward established Greenwood Village neighborhoods.
For pure appreciation potential on ultra-luxury properties, Cherry Hills has the edge. For liquidity and a broader buyer pool when it comes time to sell, Greenwood Village offers an advantage.
Making Your Decision
Ultimately, the choice between Cherry Hills Village and Greenwood Village comes down to what kind of luxury life you want to live. If you dream of riding horses on your own land, hosting gatherings in a sprawling estate, and savoring silence — Cherry Hills is your answer. If you want to walk to a great restaurant, have the office five minutes away, and still come home to a beautifully appointed home on a manicured lot — Greenwood Village is calling.
Both are exceptional communities. Both will protect your investment. The right choice is the one that matches your daily life.
Ready to explore luxury homes in Cherry Hills Village or Greenwood Village? Browse our South independent city in the South Denver metro area guides for the latest listings, market data, and insider insights.
Frequently Asked Questions
Is Cherry Hills Village more expensive than Greenwood Village?
Yes, Cherry Hills Village has significantly higher median home prices ($2.8M–$3.5M) compared to Greenwood Village ($1.2M–$1.8M). This reflects Cherry Hills’ larger lot sizes, greater scarcity, and ultra-exclusive character. However, upper-end estates in Greenwood Village can also reach $5 million or more.
What school district are Cherry Hills Village and Greenwood Village in?
Cherry Hills Village is entirely within the Cherry Creek School District, one of Colorado’s top-ranked districts. Greenwood Village is split between Cherry Creek School District and Littleton Public Schools, depending on the specific neighborhood. Both districts are highly regarded.
Can you have horses in Cherry Hills Village?
Yes, Cherry Hills Village is one of the few communities near Denver that actively supports equestrian use. The city maintains over 45 miles of bridle trails, and many properties have horse facilities. Horses even have the right of way on city roads. Most residential lots are 2.5 acres or larger, providing ample space for equestrian activities.
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Is Cherry Hills Village more expensive than Greenwood Village?
Yes, Cherry Hills Village has significantly higher median home prices ($2.8M–$3.5M) compared to Greenwood Village ($1.2M–$1.8M). This reflects Cherry Hills’ larger lot sizes, greater scarcity, and ultra-exclusive character. However, upper-end estates in Greenwood Village can also reach $5 million or more.
What school district are Cherry Hills Village and Greenwood Village in?
Cherry Hills Village is entirely within the Cherry Creek School District, one of Colorado’s top-ranked districts. Greenwood Village is split between Cherry Creek School District and Littleton Public Schools, depending on the specific neighborhood. Both districts are highly regarded.
Can you have horses in Cherry Hills Village?
Yes, Cherry Hills Village is one of the few communities near Denver that actively supports equestrian use. The city maintains over 45 miles of bridle trails, and many properties have horse facilities. Horses even have the right of way on city roads. Most residential lots are 2.5 acres or larger, providing ample space for equestrian activities.