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Denver Rent Up by More Than in 17 of 20 Biggest U.S. Cities
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Denver Rent Up by More Than in 17 of 20 Biggest U.S. Cities

Average rent prices in Denver right now continue to rise, with no end in sight, and a new report makes it clear that cost increases in the Mile High are among the worst in the country. Of twenty major U.S. cities, it shows that rent in Denver has gone up more in sheer dollars than in all but two of them.

The study was conducted by RENTCafé, and its findings actually contain some good news for renters who don't happen to live here (or a few other places). The national average rent as of May was $1,381 per month, an increase of 2 percent over May 2017 — and that boost represents the weakest annual growth for this particular time of year since the same month in 2010.

But Denver is an exception to this rule. The average rent here in May was $1,566, nearly $200 above the national average, and the annual rate has risen by 4.7 percent, more than double the 2 percent figure above.

Even easier to grasp is this number: $71. That's how much more Denver renters paid in May than they did twelve months earlier. That's greater than the increase in seventeen of twenty cities designated by RENTCafé as "renter mega-hubs." Higher than in Manhattan (where rent actually went down by a slight amount). Higher than Austin. Higher than Washington, D.C., Chicago, Atlanta, Dallas, Houston. Only Orlando and Los Angeles rents rose by more.

And if $71 doesn't sound that bad, multiplication suggests otherwise. If Denver renters paid $71 more every month for a year, the dent in their bank account would amount to $852.

See rent data for all twenty mega-hubs below.

An apartment complex under construction in Denver.
An apartment complex under construction in Denver.
Google Maps

Number 1: Manhattan (New York City)

Average rent in May 2017: $4,077
Average rent in May 2018: $4,063
Percentage change: -0.3 percent
Net change: -$14

Number 2: Austin

Average rent in May 2017: $1,298
Average rent in May 2018: $1,300
Percentage change: +0.2 percent
Net change: $2

Number 3: Washington, D.C.

Average rent in May 2017: $2,066
Average rent in May 2018: $2,070
Percentage change: +0.2 percent
Net change: $4

Number 4: Chicago

Average rent in May 2017: $1,816
Average rent in May 2018: $1,831
Percentage change: +0.8 percent
Net change: $15

Number 5: Indianapolis

Average rent in May 2017: $806
Average rent in May 2018: $825
Percentage change: +2.4 percent
Net change: $19

Number 6: San Antonio

Average rent in May 2017: $971
Average rent in May 2018: $993
Percentage change: +2.3 percent percent
Net change: $22

Number 7 (tie): Atlanta

Average rent in May 2017: $1,340
Average rent in May 2018: $1,369
Percentage change: +2.2 percent
Net change: $29

Number 7 (tie): Dallas

Average rent in May 2017: $1,124
Average rent in May 2018: $1,153
Percentage change: +2.6 percent
Net change: $29

Number 9: Columbus

Average rent in May 2017: $859
Average rent in May 2018: $889
Percentage change: +3.5 percent
Net change: $30

Number 10: Fort Worth

Average rent in May 2017: $1,019
Average rent in May 2018: $1,052
Percentage change: +3.2 percent
Net change: $33

Denver Rent Up by More Than in 17 of 20 Biggest U.S. Cities
File photo

Number 11: Jacksonville

Average rent in May 2017: $975
Average rent in May 2018: $1,014
Percentage change: +4.0 percent
Net change: $39

Number 12 (tie): Charlotte

Average rent in May 2017: $1,123
Average rent in May 2018: $1,164
Percentage change: +3.7 percent
Net change: $41

Number 12 (tie): Phoenix

Average rent in May 2017: $926
Average rent in May 2018: $967
Percentage change: +4.4 percent
Net change: $41

Number 14: Houston

Average rent in May 2017: $1,042
Average rent in May 2018: $1,086
Percentage change: +4.2 percent
Net change: $44

Number 15: Seattle

Average rent in May 2017: $1,977
Average rent in May 2018: $2,022
Percentage change: +2.3 percent
Net change: $45

Number 16: Las Vegas

Average rent in May 2017: $933
Average rent in May 2018: $981
Percentage change: +5.1 percent
Net change: $48

Number 17: Tampa

Average rent in May 2017: $1,194
Average rent in May 2018: $1,260
Percentage change: +5.5 percent
Net change: $66

Number 18: Denver

Average rent in May 2017: $1,495
Average rent in May 2018: $1,566
Percentage change: +4.7 percent
Net change: $71

Number 19: Orlando

Average rent in May 2017: $1,268
Average rent in May 2018: $1,342
Percentage change: +5.8 percent
Net change: $74

Number 20: Los Angeles

Average rent in May 2017: $2,247
Average rent in May 2018: $2,337
Percentage change: +4.0 percent
Net change: $90

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