WTF: Metro Denver Rents Are Going Down and Up at the Same Time

A real estate pro recently argued in this space that renting makes more sense than buying in Denver right now, particularly for newcomers to the area, because an increase in the number of available rental units is finally leading to better deals. But while August rents in many metro communities are actually down from last month, or rising at a more modest pace than during the craziest periods of the past few years, they’re still up in almost all parts of metro over this time last year for both one-bedroom and two-bedroom apartments, sometimes by double-digit percentages.

That’s the takeaway from Zumper’s August 2017 Denver rent report. The site pulled together median rent figures for a dozen Denver area communities and unearthed some positive developments, particularly in the short run. For instance, one-bedroom rent in Littleton is down 4.8 percent from last month, while a two-bedroom in Broomfield will cost you an average of 3.4 percent less than it would have in July.

But on a year-to-year basis, metro rents are still up for all twelve communities tracked when it comes to a one-bedroom, and in ten out of twelve in regard to a two-bedroom, with the other two areas registering as flat. In other words, rents in August 2017 aren’t lower than they were in August 2016 anywhere in the greater Denver area.

Continue to see photo-illustrated August data separated into one-bedroom and two-bedroom categories and ranked from the lowest to the highest year-to-year percentage increase.

ONE BEDROOM RENT

Number 12: Centennial


Average one-bedroom rent in August 2017: $1,340
Month-to-month-percentage change: -0.7 percent
Year-to-year-percentage change: 1.8 percent

Number 11: Thornton

Average one-bedroom rent in August 2017: $1,100
Month-to-month-percentage change: 0.9 percent
Year-to-year-percentage change: 1.8 percent

Number 10: Parker

Average one-bedroom rent in August 2017: $1,310
Month-to-month-percentage change: -2.2 percent
Year-to-year-percentage change: 3.1 percent

Number 9: Broomfield

Average one-bedroom rent in August 2017: $1,430
Month-to-month-percentage change: -1.4 percent
Year-to-year-percentage change: 3.6 percent

Number 8: Arvada

Average one-bedroom rent in August 2017: $1,000
Month-to-month-percentage change: 5.3 percent
Year-to-year-percentage change: 4.2 percent

Number 7: Northglenn

Average one-bedroom rent in August 2017: $1,120
Month-to-month-percentage change: 4.7 percent
Year-to-year-percentage change: 5.7 percent

Number 6: Castle Rock

Average one-bedroom rent in August 2017: $1,200
Month-to-month-percentage change: -0.8 percent
Year-to-year-percentage change: 6.2 percent

Number 5: Aurora

Average one-bedroom rent in August 2017: $1,000
Month-to-month-percentage change: 0.0 percent
Year-to-year-percentage change: 6.4 percent

Number 4: Littleton

Average one-bedroom rent in August 2017: $1,180
Month-to-month-percentage change: -4.8 percent
Year-to-year-percentage change: 7.3 percent

Number 3: Denver

Average one-bedroom rent in August 2017: $1,300
Month-to-month-percentage change: 4.8 percent
Year-to-year-percentage change: 8.3 percent

Number 2: Westminster

Average one-bedroom rent in August 2017: $1,250
Month-to-month-percentage change: 1.6 percent
Year-to-year-percentage change: 8.7 percent

Number 1: Lakewood

Average one-bedroom rent in August 2017: $1,100
Month-to-month-percentage change: 0.7 percent
Year-to-year-percentage change: 15.3 percent

TWO BEDROOM RENT

Number 12 (tie): Parker


Average two-bedroom rent in August 2017: $1,600
Month-to-month-percentage change: -2.4 percent
Year-to-year-percentage change: 0.0 percent

Number 12 (tie): Littleton


Average two-bedroom rent in August 2017: $1,610
Month-to-month-percentage change: -1.2 percent
Year-to-year-percentage change: 0.0 percent

Number 10 (tie): Westminster


Average two-bedroom rent in August 2017: $1,390
Month-to-month-percentage change: 2.2 percent
Year-to-year-percentage change: 1.5 percent

Number 10 (tie): Thornton


Average two-bedroom rent in August 2017: $1,390
Month-to-month-percentage change: 5.3 percent
Year-to-year-percentage change: 1.5 percent

Number 8: Lakewood


Average two-bedroom rent in August 2017: $1,410
Month-to-month-percentage change: -2.8 percent
Year-to-year-percentage change: 2.9 percent

Number 7: Centennial


Average two-bedroom rent in August 2017: $1,770
Month-to-month-percentage change: 1.1 percent
Year-to-year-percentage change: 5.4 percent

Number 6 (tie): Broomfield


Average two-bedroom rent in August 2017: $1,700
Month-to-month-percentage change: -3.4 percent
Year-to-year-percentage change: 6.3 percent

Number 6 (tie): Castle Rock


Average two-bedroom rent in August 2017: $1,510
Month-to-month-percentage change: 4.1 percent
Year-to-year-percentage change: 6.3 percent

Number 4: Aurora


Average two-bedroom rent in August 2017: $1,390
Month-to-month-percentage change: 1.5 percent
Year-to-year-percentage change: 6.9 percent

Number 3: Northglenn


Average two-bedroom rent in August 2017: $1,420
Month-to-month-percentage change: 0.0 percent
Year-to-year-percentage change: 10.1 percent

Number 2: Denver


Average two-bedroom rent in August 2017: $1,850
Month-to-month-percentage change: 2.8 percent
Year-to-year-percentage change: 12.1 percent

Number 1: Arvada


Average two-bedroom rent in August 2017: $1,000
Month-to-month-percentage change: 0.0 percent
Year-to-year-percentage change: 12.7 percent