At the start of 2024, the median monthly rent in Denver was $1,737. Right now, it is $1,734, according to the March report. Rent is down 1 percent year over year, which matches the national average.
Although the median rent price is a bit lower, overall rent prices have actually increased a bit in the metro since the year began.
“Two months into the year, rents in Denver have risen 0.2 percent,” the report notes. “This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to February 2023 rents had increased 0.3 percent.”
Denver is keeping pace with national rent trends, too. The report shows the national rate of increase was 0.2 percent since February, with nearby Kansas City having the same exact rate of increase.
In May 2023, Denver's median rent was over $2,000, according to an analysis by Rent. At the time, Westword looked at what sort of living situation people could find for $2,000 or less; today there are many more options.
The Apartment Association of Metro Denver reports that metro Denver saw an annual increase of 13,246 units in 2023, which is the largest annual addition since 2017. The group's latest survey — which covers the last quarter of 2023 — finds the average rent in Denver County is $1,909 while metro Denver as a whole has an average rent of $1,807.
Last year, rent in Colorado as a whole decreased 0.6 percent, while rent around the country went down an average of 1 percent. In 2022, rent across the country had increased 1.8 percent from January to December.
The median monthly rent in the metro area is currently $1,755, which is just over the median rent in Denver proper.
The most expensive city in the metro area is Highlands Ranch, where median rent is a whopping $2,291. Wheat Ridge’s median rent is the lowest, at just $1,498 — up a tiny bit from $1,482 at the beginning of the year.
Rent in Arvada grew most quickly, at 5 percent so far this year, while Golden’s rent fell the fastest, with a 2.2 percent drop. Find a full breakdown below of rent prices in Denver-area cities from Apartment List.
Median rent in metro Denver at the start of 2024:
Arvada: $1,481 for a one-bedroom, $1,733 for a two-bedroom Aurora: $1,403 for a one-bedroom, $1,775 for a two-bedroom
Broomfield: $1,794 for a one-bedroom, $2,164 for a two-bedroom
Castle Rock: $1,488 for a one-bedroom, $1,606 for a two-bedroom
Centennial: $1,730 for a one-bedroom, $1,968 for a two-bedroom
Denver: $1,534 for a one-bedroom, $1,911 for a two-bedroom
Englewood: $1,288 for a one-bedroom, $1,742 for a two-bedroom
Glendale: $1,508 for a one-bedroom, $1,908 for a two-bedroom
Golden: $1,434 for a one-bedroom, $1,817 for a two-bedroom
Highlands Ranch: $1,774 for a one-bedroom, $2,208 for a two-bedroom
Lakewood: $1,536 for a one-bedroom, $1,723 for a two-bedroom
Littleton: $1,383 for a one-bedroom, $1,699 for a two-bedroom
Lone Tree: $1,833 for a one-bedroom, $2,267 for a two-bedroom
Northglenn: $1,423 for a one-bedroom, $1,759 for a two-bedroom
Parker: $1,756 for a one-bedroom, $1,987 for a two-bedroom
Thornton: $1,608 for a one-bedroom, $1,871 for a two-bedroom
Westminster: $1,569 for a one-bedroom, $1,733 for a two-bedroom
Wheat Ridge: $1,212 for a one-bedroom, $1,512 for a two-bedroom
Boulder is not part of Apartment List's metro Denver roundup; it has its own report. Rent has increased faster in Boulder, with a 0.7 percent rise. The median Boulder monthly rent is currently $1,905, with prices up 2.2 percent year over year.
Denver's median rent is still 26 percent higher than the national median rent, which is $1,377. That registers as the 23rd-most-expensive large city in the United States for rent right now, up one position from the beginning of 2024. According to Apartment List, cities with prices similar to Denver's include Plano, Texas, and Scottsdale, Arizona.
In January, Apartment List noted that winter is typically the time when rents are lowest, so the rental report could get sour as spring nears. But for now it’s staying calm.
