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Metro Denver Rent Increases Get Even Worse

Metro Denver Rent Increases Get Even Worse
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As of late last year, rent prices finally seemed to be leveling off in Denver and its nearby communities following a long stretch during which rental costs consistently zoomed upward in the Mile High City's hyper-competitive housing market. But the news thus far in 2018 has reversed this trend, with the latest eye-popping data confirming that metro Denver rent increases are back with a vengeance.

The digits come from Zumper's May 2018 Denver rent report, which analyzes rent in Denver and eleven other suburbs or towns in the area. When it comes to the median price for a two-bedroom apartment, all but one experienced price bumps on both a month-to-month and year-to-year basis.

The sole exception showed no increase from last month and a dip from this time in 2017 of less than 1 percent. During the last twelve months, the rest have gone up from a low of 3.8 percent to a high of (gulp) 15.7 percent.

The boost in Denver is the second largest on an annual basis and the highest overall — and while rent prices vary from neighborhood to neighborhood, as we pointed out in a recent post, "Average Rent Prices for Every Denver Neighborhood Right Now," bargains appear to be few and far between.

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

Number 12: Northglenn

Median two-bedroom price: $1,350

Month-to-month change: 0.00 percent

Year-to-year change: -0.70 percent

Number 11: Arvada

Median two-bedroom price: $1,380

Month-to-month change: +5.30 percent

Year-to-year change: +3.80 percent

Number 10: Aurora

Median two-bedroom price: $1,460

Month-to-month change: +3.50 percent

Year-to-year change: +7.40 percent

Metro Denver Rent Increases Get Even Worse (2)
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Number 9: Thornton

Median two-bedroom price: $1,470

Month-to-month change: +1.40 percent

Year-to-year change: +15.70 percent

Number 8: Lakewood

Median two-bedroom price: $1,490

Month-to-month change: +4.20 percent

Year-to-year change: +8.80 percent

Number 7: Westminster

Median two-bedroom price: $1,550

Month-to-month change: +4.70 percent

Year-to-year change: +8.40 percent

Metro Denver Rent Increases Get Even Worse (3)
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Number 6: Castle Rock

Median two-bedroom price: $1,560

Month-to-month change: +4.70 percent

Year-to-year change: +13.90 percent

Number 5: Parker

Median two-bedroom price: $1,620

Month-to-month change: +3.20 percent

Year-to-year change: +3.80 percent

Number 4: Littleton

Median two-bedroom price: $1,700

Month-to-month change: +3.70 percent

Year-to-year change: +9.00 percent

Metro Denver Rent Increases Get Even Worse (4)
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Number 3: Broomfield

Median two-bedroom price: $1,780

Month-to-month change: +3.50 percent

Year-to-year change: +5.30 percent

Number 2: Centennial

Median two-bedroom price: $1,910

Month-to-month change: +4.90 percent

Year-to-year change: +11.00 percent

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Number 1: Denver

Median two-bedroom price: $1,960

Month-to-month change: +2.60 percent

Year-to-year change: +15.30 percent

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