Thankfully, the trend of moderating rent prices is continuing. Indeed, the median rent price in one metro-area city is actually lower now than it was at this time last year.
The facts and figures come from the November rent report from Apartment List. And the good, or at least better, news doesn't stop there.
A pair of our Denver rent update headlines from August and September — "Denver One-Bedroom Rent Up Most of 25 Priciest U.S. Cities in Past Year" and "Denver One-Bedroom Rent Up by Higher Percentage Than Any Other U.S. City" — speak volumes about rising costs locally. Indeed, renters in these parts have been looking at significant increases, many in the double-digit range, for the past few years.
This time, though, five of the fourteen metro communities included in the Apartment List study actually saw a month-to-month decrease in overall median rent, including Denver, which experienced a -0.2 percent dip. And while the median year-to-year rent costs are still up in thirteen of the fourteen places, all of the figures are below 5 percent.
As for the one place where year-to-year median rent is down, it's also, naturally, the priciest spot among those surveyed. But lower is lower, and in this rental market, that's definitely worth noting.
Continue to count down rents in the aforementioned Denver metro communities, ranked by year-to-year change. (Note: The month-to-month and year-to-year changes are a cumulative of both one- and two-bedroom figures.)
File photo
Median one-bedroom apartment rent: $1,380
Median two-bedroom apartment rent: $1,730
Month-to-month change: +0.5 percent
Year-to-year change: +4.8 percent
Number 13: Castle Rock
Median one-bedroom apartment rent: $1,400
Median two-bedroom apartment rent: $1,780
Month-to-month change: +2.7 percent
Year-to-year change: +3.7 percent
Number 12: Thornton
Median one-bedroom apartment rent: $1,480
Median two-bedroom apartment rent: $1,870
Month-to-month change: +0.4 percent
Year-to-year change: +3.6 percent
Number 11: Brighton
Median one-bedroom apartment rent: $1,260
Median two-bedroom apartment rent: $1,590
Month-to-month change: +0.9 percent
Year-to-year change: +3.4 percent
Number 10: Westminster
Median one-bedroom apartment rent: $1,280
Median two-bedroom apartment rent: $1,610
Month-to-month change: +0.5 percent
Year-to-year change: +3.1 percent
Number 9: Arvada
Median one-bedroom apartment rent: $1,210
Median two-bedroom apartment rent: $1,530
Month-to-month change: +0.7 percent
Year-to-year change: +1.8 percent
Number 8: Wheat Ridge
Median one-bedroom apartment rent: $1,020
Median two-bedroom apartment rent: $1,290
Month-to-month change: -0.1 percent
Year-to-year change: +1.6 percent
File photo
Median one-bedroom apartment rent: $1,200
Median two-bedroom apartment rent: $1,520
Month-to-month change: +0.7 percent
Year-to-year change: +1.4 percent
Number 4 (tie): Littleton
Median one-bedroom apartment rent: $1,470
Median two-bedroom apartment rent: $1,850
Month-to-month change: -0.4 percent
Year-to-year change: +1.2 percent
Number 4 (tie): Golden
Median one-bedroom apartment rent: $1,230
Median two-bedroom apartment rent: $1,550
Month-to-month change: +0.2 percent
Year-to-year change: +1.2 percent
Number 4 (tie): Denver
Median one-bedroom apartment rent: $1,060
Median two-bedroom apartment rent: $1,350
Month-to-month change: -0.2 percent
Year-to-year change: +1.2 percent
Number 3: Parker
Median one-bedroom apartment rent: $1,480
Median two-bedroom apartment rent: $1,870
Month-to-month change: -1.5 percent
Year-to-year change: +1.1 percent
Number 2: Aurora
Median one-bedroom apartment rent: $1,240
Median two-bedroom apartment rent: $1,560
Month-to-month change: -0.1 percent
Year-to-year change: +0.7 percent
Number 1: Lone Tree
Median one-bedroom apartment rent: $1,570
Median two-bedroom apartment rent: $1,990
Month-to-month change: +0.4 percent
Year-to-year change: -0.3 percent
