While home prices are still on the rise in Denver, rents have actually dipped — though not by much.
Apartment List estimates the current median one-bedroom rent in Denver at $1,060 and the median two-bedroom rent at $1,342. That's an average of every neighborhood in the metro area, and much lower than the current prices in trendier parts of the city.
Still, rents are definitely dropping around the city, according to the just-released September Denver rent report from Apartment List. Rents are down 1.2 percent from March through August, and 1.7 percent over the same period last year. That means a $1,000 apartment available for $1,000 in August 2019 would cost $973 now.
In their comments responding to our recent rent story, readers make it clear they aren't impressed by the drop. Says Collin:
That's a whopping savings of 27 dollars.
Denver's not worth the 4-digit rent anymore.
It absolutely is worth $1,000. Anywhere upward from there, though, is questionable for sure.
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Seriously! One bedrooms in Lakewood are starting to reach $1,500! This state is insane anymore! Ten years ago I was renting a 3-story townhome with a garage in Lakewood for $800. As a single dad, I can't afford anything here anymore.
I don't think Denver is terrible myself, but after 22 years I recognize that I need to leave. This town's history has been one of phases and change since its earliest days. Denver is now turning into a difficult and expensive (to me) place to live. It's now a place for high-income earners and, I suppose, working people content to occupy a sharply defined and increasingly static niche. Well, okay, the new crowd and the old guard that happen to like the new evolving Denver are welcome to it.
Has Denver pressed itself out of the market? How do you feel about this current phase? Post a comment or send your thoughts to email@example.com.