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REPORT: Denver rents increase slightly in July, but remain relatively flat

Posted at 1:24 PM, Aug 01, 2018
and last updated 2018-08-01 15:24:30-04

DENVER — It’s no surprise for most, but rent prices in Denver have been on the rise. However, last month’s slight increase reflects what ApartmentList data shows as a relatively flat growth rate compared to the same time the previous year. 

Rent prices in Denver went up at a rate of 0.6 percent in July, according to data released Wednesday by the rental listing website. But rates have been relatively flat at 0.2 percent in comparison to the same time last year, the report read. 

Currently, median rents in Denver stand at $1,060 for a one-bedroom apartment and $1,350 for a two-bedroom. This is the sixth straight month that the city has seen rent increases after a decline in January. 

While rents may have remained steady in Denver proper, it’s a different story for cities across the metro area. Rents have risen in 8 of the largest 10 cities in the Denver metro.

Here are highlights from the ApartmentList report:

  • Parker has the most expensive rents in the Denver metro, with a two-bedroom median of $1,870; however, the city has also seen rents fall by 1.0 percent over the past year, the biggest drop in the metro.
  • Brighton has seen the fastest rent growth in the metro, with a year-over-year increase of 6.2 percent. The median two-bedroom there costs $1,610, while one-bedrooms go for $1,270.
  • Denver proper has the least expensive rents in the Denver metro, with a two-bedroom median of $1,350; rents rose 0.6 percent over the past month but remained flat year-over-year.

The report states that Denver is still more affordable than most comparable cities across the country.