Business

Metro Denver Rents Up in Ten Out of Ten Areas

Metro Denver Rents Up in Ten Out of Ten Areas
File photo
Denver rent prices, which seemed to be stabilizing earlier this year after a long stretch of increases, have now risen for the fourth consecutive month, according to a new report from ApartmentList.com. In addition, prices are up on a year-to-year basis in ten out of ten metro-Denver areas surveyed by the site.

The analysis sums up the data with this blunt statement: "Denver rents increase sharply over the past month."

There's a modicum of good news in the numbers, particularly for those looking to rent in Denver proper. While rents within the city limits circa May rose on both a month-to-month and year-to-year basis, as was the case with the nine other communities put under the microscope, the rate was fairly modest by metro-area standards: 0.9 percent and 1.7 percent, respectively.

Moreover, Denver rent lags behind the national rate of increase — something that's not the case for Colorado as a whole, as seen in the following graphic:



In addition, renting in Denver remains less expensive than in quite a few other major cities, including San Francisco, San Diego, Los Angeles, Seattle and Portland.

Still, the report overall paints a pricey picture of metro-area rent. After a decline in January, rent costs in Denver edged higher in February, March, April and May.

Moreover, adjacent communities don't offer any relief. Only one of nine suburbs had a lower year-to-year rent increase than Denver, with the top spot coming in at more than three times the Mile High City's total.

Continue to count down the communities scrutinized by ApartmentList.com, ranked from the smallest to the largest year-to-year rent increase. That's followed by a graphic offering more details about Denver-area rental trends.

Which are currently pointing in one direction: up.

Number 10: Westminster

Median one-bedroom price: $1,220
Median two-bedroom price: $1,550
Month-to-month price change: 0.9 percent
Year-to-year price change: 1.3 percent

Number 9: Denver

Median one-bedroom price: $1,040
Median two-bedroom price: $1,310
Month-to-month price change: 0.9 percent
Year-to-year price change: 1.7 percent

Number 8: Littleton

Median one-bedroom price: $1,440
Median two-bedroom price: $1,820
Month-to-month price change: 0.3 percent
Year-to-year price change: 1.9 percent

Number 7 (tie): Arvada

Median one-bedroom price: $1,150
Median two-bedroom price: $1,460
Month-to-month price change: 1.1 percent
Year-to-year price change: 2.2 percent

Number 7 (tie): Englewood

Median one-bedroom price: $1,180
Median two-bedroom price: $1,500
Month-to-month price change: 0.8 percent
Year-to-year price change: 2.2 percent

Continue to see the five metro-Denver areas with the highest year-to-year rent increases in May 2017.


click to enlarge APARTMENT GUIDE FILE PHOTO
Apartment Guide file photo
Number 5: Aurora

Median one-bedroom price: $1,210
Median two-bedroom price: $1,530
Month-to-month price change: 1.7 percent
Year-to-year price change: 3.2 percent

Number 4: Lone Tree

Median one-bedroom price: $1,530
Median two-bedroom price: $1,940
Month-to-month price change: 1.5 percent
Year-to-year price change: 3.5 percent

Number 3: Broomfield

Median one-bedroom price: $1,300
Median two-bedroom price: $1,630
Month-to-month price change: 2.1 percent
Year-to-year price change: 4.1 percent

APARTMENT GUIDE FILE PHOTO
Apartment Guide file photo
Number 2: Thornton

Median one-bedroom price: $1,440
Median two-bedroom price: $1,820
Month-to-month price change: 0.9 percent
Year-to-year price change: 4.7 percent

Number 1: Golden

Median one-bedroom price: $1,200
Median two-bedroom price: $1,510
Month-to-month price change: 0.3 percent
Year-to-year price change: 6.1 percent


KEEP WESTWORD FREE... Since we started Westword, it has been defined as the free, independent voice of Denver, and we'd like to keep it that way. With local media under siege, it's more important than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" program, allowing us to keep offering readers access to our incisive coverage of local news, food and culture with no paywalls.
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