Denver Rent Prices Increasing 3.4 Times Faster Than National Average, Site Says
Graphics and more below.
In recent months, one of the hottest topics among Denverites is the rising cost of renting in the Mile High City. Some readers have suggested prices only seem high because they used to be so reasonable, while others see the costs as having the hidden benefit of dissuading more people from moving here.
Adding more perspective is ApartmentList.com, whose data shows that rents in December rose 3.4 times faster than the national average. Graphics, info and more below.
This chart tracks rent prices in Denver and the U.S. from December 2013 to December 2014. Over that period, rents went up across the country by an average of 2.8 percent. In Denver, they increased by 9.6 percent.
According to the site, a typical one-bedroom unit in Denver went for $1,040 last month, with two-bedrooms averaging $1,390.
These numbers make Denver the eleventh most expensive U.S. city in which to rent. Denver's costs were 46 percent above the national average.
Prices were slightly lower in metro locations beyond the city limits: $960 for a one-bedroom, $1,220 for a two-bedroom. This graphic shows two-bedroom rent prices for some notable Denver-area suburbs:
Are these costs excessive? That's up to each renter to decide. But there's no question that rent has been getting more expensive over the past year -- and no indication costs will moderate soon.
Send your story tips to the author, Michael Roberts.
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