Business

Rent in Six Metro Suburbs Rising Faster Than in Denver Proper

Rent in Six Metro Suburbs Rising Faster Than in Denver Proper
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Rent in Denver continues to rise at a speedy clip as measured both month to month and year to year. But rent prices are going up more quickly in at least six metro suburbs than they are in Denver proper.

These are some of the main takeaways in the July 2017 rent report from ApartmentList.com.

In many ways, the results of the latest survey mark the continuation of recent trends. As we've noted, Denver rent prices seemed to be stabilizing earlier this year after a long stretch of escalations. But this month marks the fifth consecutive month of increases — and prices are higher on a year-to-year basis in all ten of the metro-Denver areas included in the analysis.

Within Denver's city limits, rent costs are up 1.2 percent from last month and 2.4 percent from this time last year. That's not great, especially considering that these digits represent an average of rents in Denver as a whole — and in some of the more sought-after neighborhoods, prices continue to shoot skyward more rapidly. But as the following graphic demonstrates, median rent in the Mile High City isn't rising as quickly as it is in Colorado and the U.S. overall.
That hasn't happened very often lately....


Also on the positive side, rents in several other major cities have been climbing more quickly than they've been in Denver lately, including Seattle (+5.6 percent) and Phoenix (+5.1 percent). Then again, ApartmentList.com notes that "renters will generally find more expensive prices in Denver than most similar cities." For instance, Phoenix's median two-bedroom rent price is currently $1,020, $310 less than in Denver.

Continue to count down the latest rent numbers for Denver and nine other metro communities, ranked by year-to-year price change.

Number 10 (tie):  Englewood

Median one-bedroom price: $1,190
Median two-bedroom price: $1,510
Month-to-month price change: 0.9 percent
Year-to-year price change: 2.2 percent


Number 10 (tie): Westminster


Median one-bedroom price: $1,240
Median two-bedroom price: $1,570
Month-to-month price change: 1.2 percent
Year-to-year price change: 2.2 percent


FILE PHOTO
File photo
Number 8 (tie): Denver

Median one-bedroom price: $1,050
Median two-bedroom price: $1,330
Month-to-month price change: 1.2 percent
Year-to-year price change: 2.4 percent


Number 8 (tie): Littleton

Median one-bedroom price: $1,450
Median two-bedroom price: $1,830
Month-to-month price change: 0.8 percent
Year-to-year price change: 2.4 percent

Continue to see the six metro Denver suburbs where rents have been increasing at the fastest rates.

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Michael Roberts has written for Westword since October 1990, serving stints as music editor and media columnist. He currently covers everything from breaking news and politics to sports and stories that defy categorization.
Contact: Michael Roberts