Business

Metro Denver Rent Increases Are Back With a Vengeance

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As of late last year, rent prices finally seemed to be moderating in Denver and its neighboring burgs following a long period in which rental costs continued to go up and up and up in the Mile High City's red-hot housing market. But the latest data suggests that bargain hunters' hopes have been squashed again, with rents across the metro area heading upward, and many of the places analyzed notching double-digit bumps over this time in 2017.

The data comes from Zumper's April 2018 Denver rent report, which examines the Mile High and eleven nearby communities. When it comes to the median price for a one-bedroom apartment, eight of them cost more than they did last month and eleven have experienced boosts on a year-to-year basis.

When it comes to the latter category, the increases are substantial, with the exception of Broomfield, where one-bedrooms are going for just under 1 percent less than in April 2017. Elsewhere, the prices range from 6.5 percent higher in Parker to a gulp-inducing 15.7 percent hike in (you guessed it) Denver.

Of course, rent prices vary from neighborhood to neighborhood in Denver and other spots. But unfortunately, the new averages don't seem average at all.

Count down the twelve cities analyzed by Zumper below.

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Number 11 (tie): Aurora

Median one-bedroom price: $1,120

Month-to-month change: +3.70 percent

Year-to-year change: +9.80 percent


Number 11 (tie): Arvada

Median one-bedroom price: $1,120

Month-to-month change: +4.7 percent percent

Year-to-year change: +8.70 percent


Number 10: Northglenn

Median one-bedroom price: $1,150

Month-to-month change: +4.5 percent

Year-to-year change: +10.60 percent


Number 9: Thornton

Median one-bedroom price: $1,220

Month-to-month change: +3.4 percent

Year-to-year change: +15.10 percent


Number 6 (tie): Westminster

Median two-bedroom price: $1,320

Month-to-month change: +2.30 percent

Year-to-year change: +11.90 percent