EXHIBIT 23.1


                         CONSENT OF INDEPENDENT AUDITORS

We consent to the reference to our firm under the caption "Experts" and to the
use of our report dated January 9, 2002, with respect to the financial
statements of M.D.C. Holdings, Inc. as of December 31, 2001 and for the two-year
period then ended included in Amendment No. 3 to the Registration Statement on
Form S-3 and related Prospectus of M.D.C. Holdings, Inc. for the registration of
up to $750,000,000 in common stock, preferred stock and debt securities and to
the incorporation by reference therein of our report dated January 9, 2002, with
respect to the consolidated financial statements of M.D.C. Holdings, Inc. as of
December 31, 2001 and for the two-year period then ended included in its Annual
Report on Form 10-K for the year ended December 31, 2001, filed with the
Securities and Exchange Commission.


                                                           /s/ Ernst & Young LLP

Denver, Colorado
September 20, 2002