Audio By Carbonatix
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
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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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Number 6: Arvada
Median one-bedroom price: $1,170
Median two-bedroom price: $1,480
Month-to-month price change: 1.7 percent
Year-to-year price change: 2.8 percent
Number 5: Broomfield
Median one-bedroom price: $1,310
Median two-bedroom price: $1,650
Month-to-month price change: 0.9 percent
Year-to-year price change: 4.1 percent
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Number 4: Aurora
Median one-bedroom price: $1,230
Median two-bedroom price: $1,550
Month-to-month price change: 1.6 percent
Year-to-year price change: 4.2 percent
Number 3: Thornton
Median one-bedroom price: $1,440
Median two-bedroom price: $1,820
Month-to-month price change: 0.0 percent
Year-to-year price change: 4.7 percent
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Number 2: Golden
Median one-bedroom price: $1,220
Median two-bedroom price: $1,540
Month-to-month price change: 1.7 percent
Year-to-year price change: 5.1 percent
Number 1: Lone Tree
Median one-bedroom price: $1,560
Median two-bedroom price: $1,980
Month-to-month price change: 1.7 percent
Year-to-year price change: 6.1 percent
