In this study, Digital Elevation Models (DEMs) were constructed from color images, grayscale images and each bands (Red, Green, Blue) of color image, and the accuracies of each DEMs were evaluated, And then, correlation coefficients between left and right images of each stereopairs were analyzed. The DEM can be constructed conventionally from the digital map and stereopair images using image matching. The image matching requires stereo satellite images or aerial photographs. In case of rotor aerial photographs, these are to be scanned in 3 bands (Red, Green, Blue). For this study, 5 types of images were acquired; color, grayscale, RED band, GREEN band, and BLUE band image. DEMs were constructed from 5 types of stereopair images and evaluated using elevation points of digital maps. In order to analyze the cause of various accuracies of each DEMs, the similarity between left and right images of each stereopairs were analyzed. Consequently, the accuracy of the DEM constructed from RED band images of color aerial photograph were proved best.