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.
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