Thousands of apartment renters across the Denver area are getting the news that their next rent check will cost a little more.
The increasing supply of new apartments in metro Denver isn’t yet affecting low vacancies and increasing rents.
Average monthly rents climbed for the third consecutive quarter to $1,074 across metro Denver. Every county in metro Denver (Adams, Arapahoe, Boulder/Broomfield, Denver, Douglas and Jefferson) saw its average rent climb within the last month.
If you’re tired of rent increases at your current location or want to move but will experience a spike in rent, consider the benefits of buying a home instead. You may be able to secure a great rate and end up paying the equivalent or less in monthly payments as you build equity in a home. Renting can be a more affordable option for the short term, but renters still have to face rising rental costs year after year. Check out Trulia’s rent vs. buy calculator to find out what’s better for you.
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