Nationally, Denver’s Rising Rent is Moderate

For some, Denver’s continuously rising rent increases are a problem, while others view it as a sign of a desirable place to live and work. According to the latest data from the Apartment Association of Metro Denver, median rents in the Denver metro area increased by 13 percent year-over-year in the first quarter, and average rents climbed 12 percent.

The median rent for all sizes of units metro-wide hit $1,158 per month in the first quarter, up from $1,021 in the same period of 2014. Average rent increased to $1,204 per month from $1,073. Quarter-over-quarter increases for both median and average rent were less dramatic than yearly increases. For example, in the first quarter, both median and average rents were only 3 percent higher than in the fourth quarter of 2014.

When compared to other major cities, this data makes Denver rents moderate. The median rent for a one-bedroom in metro Denver in the first quarter was $1,039 per month, so this places Denver in the middle of other large cities, with San Francisco on the high end ($2,100 per month) and Dallas on the low end ($786 per month).

Other cities with rents still higher than Denver’s are Los Angeles, Boston, Washington, D.C., and San Diego.

Want to find out about our deep investment in this unique city? Meet the Alaris Team. We are here to help you with all your real estate needs. We work with buyers, sellers, and real estate investors. Alaris Realtors® have a powerful command of this real estate market.


 
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