ApartmentList.com has just released its latest analysis of rents in Colorado.
This time, the focus is on prices during January 2016. And while the prices in many areas have leveled off to some degree, the rate of growth over a twelve-month period beginning in January 2015 remains almost double the national average: 6.2 percent here as opposed to 3.3 percent throughout the U.S.
As for the ten Colorado communities whose rents are rising most quickly, nine of them are in the Denver-Boulder area, with just one outlier (which is also featured here).
We suspect that the top three may surprise you.
Count down the photo-illustrated top ten below, using ApartmentList.com data and commentary on several of the cities. The roster is followed by graphics showing both the cities with the fastest growing rents and those whose median rents for a two-bedroom apartment are the priciest.
To check out all the latest ApartmentList.com info about Colorado rents, click here.
Number 10: Boulder
Increase from January 2015 to January 2016: 2.7 percent
"Once again, Boulder had the highest rents statewide with a 2-bedroom median rent of $1,900. 1-bedroom rents there averaged $1,560. Boulder rents have increased 2.7% in the last year."
Number 9: Fort Collins
Increase from January 2015 to January 2016: 3.9 percent
"Fort Collins ($1,380) placed 9th for rent growth, showing a 3.9% increase year-over-year. Although Fort Collins’ growth outpaces national averages, it’s still well below the statewide average of 6.2%."
Number 8: Denver
Increase from January 2015 to January 2016: 4.6 percent
"Colorado’s capital comes in 2nd for most expensive rents. Denver has an average 2-bedroom price of $1,740, and an average 1-bedroom price of $1,380. Rents there have increased 4.6% over last year."
Number 7: Centennial
Increase from January 2015 to January 2016: 7.2 percent
Number 6: Lakewood
Increase from January 2015 to January 2016: 8 percent
Number 5: Aurora
Increase from January 2015 to January 2016: 8.2 percent
"Aurora was Colorado’s 6th most expensive city, with a median price of $1,380 for a 2-bedroom and $1,020 for a 1-bedroom. Aurora rent prices are also growing at 8.2% year-over-year, the 5th highest of any Colorado City."
Number 4: Colorado Springs
Increase from January 2015 to January 2016: 10:4 percent
" Colorado Springs ($1,050) came in as the city with the 4th strongest year-to-year growth at 10.4%. Month-over-month, Colorado Springs rents increased by 0.8%."
Number 3: Arvada
Increase from January 2015 to January 2016: 10.8 percent
Number 2: Thornton
Increase from January 2015 to January 2016: 11.4 percent
Number 1: Westminster
Increase from January 2015 to January 2016: 14.5 percent
"Westminster showed the highest year-over-year growth of any Colorado city, up 14.5% over January 2015. A 2-bedroom in Westminster averages $1,480 while a 1-bedroom goes for $1,160."