Business

Average Metro Denver Rent Blows Past $2K for a Two-Bedroom

Average Metro Denver Rent Blows Past $2K for a Two-Bedroom
Zumper file photo
Last October, rent prices in metro Denver finally seemed to be leveling off after a long period when they kept climbing higher and higher amid the Mile High City's scorching housing market. But the situation has steadily grown worse for renters throughout 2018, with increases reaching a new annual peak last month.

That record didn't last long. New figures show the average rent for a two-bedroom apartment within Denver's city limits is just a shade under $2,000 per month, and that figure has been surpassed in a popular suburb for the first time this year.

The data comes from Zumper's June 2018 report, which reveals that the median rent in the state of Colorado as a whole for all apartments, no matter the number of bedrooms, was $1,224 last month. But finding a place for under that figure in metro Denver is a challenge.

The average rent for a one-bedroom is south of the aforementioned total in four nearby communities — Thornton, Arvada, Aurora and Northglenn — but above it in eight other places. And the least expensive two-bedroom average in the metro area (again, in Northglenn) was $1,370.


Even more alarming: The median rent price only went down in three of twelve communities analyzed on a month-to-month basis and dipped in none as compared to the same month last year. Indeed, the rent cost for a two-bedroom in Denver proper is a gag-inducing 15.80 percent higher year over year.

Count down the twelve cities surveyed by Zumper below, ranked by median price for a two-bedroom apartment.

ZUMPER FILE PHOTO
Zumper file photo
Number 12: Northglenn

Median two-bedroom price: $1,370

Month-to-month change: 1.50 percent

Year-to-year change: 0.70 percent

Number 11: Thornton

Median two-bedroom price: $1,440

Month-to-month change: -2.00 percent

Year-to-year change: 14.30 percent

Number 10 (tie): Aurora

Median two-bedroom price: $1,450

Month-to-month change: -0.70 percent

Year-to-year change: 6.60 percent

Number 10 (tie): Arvada

Median two-bedroom price: $1,450

Month-to-month change: 5.10 percent

Year-to-year change: 3.60 percent

Number 8: Castle Rock

Median two-bedroom price: $1,500

Month-to-month change: -3.80 percent

Year-to-year change: 4.20 percent

ZUMPER FILE PHOTO
Zumper file photo
Number 7: Lakewood

Median two-bedroom price: $1,550

Month-to-month change: 4.00 percent

Year-to-year change: 7.60 percent
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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