DENVER – The trend of rising rents in Denver doesn’t seem to be changing anytime soon.
The latest report from online rental listing site ApartmentList shows the median rent in Denver increased 0.8 percent in March. Year-over-year, rents have increased 1 percent.
ApartmentList found a 1-bedroom unit in Denver rented for a median of $1,380 a month in March, while a 2-bedroom went for $1,730.
Those numbers look nearly identical to the median rents ApartmentList reported last month, but that’s because the site uses a “same unit” methodology for its rent reports that takes into account the average price change for available units across a time period to control for changes in inventory.
So while the median rent looks essentially unchanged, comparing similar units from one month to the next shows a slight increase in rent.
According to ApartmentList, Five Points is the most expensive neighborhood in Denver, with a median rent of $2,130 for a 2-bedroom unit. Rents there increased 1.6% in March.
For more information, log on to ApartmentList.com.