EXHIBIT 23.1


                         CONSENT OF INDEPENDENT AUDITORS


We consent to the reference to our firm under the caption "Experts" in Amendment
No. 2 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 than 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
August 30, 2002