Reports: Denver rental prices fell in December 2016

Reports: Denver rental prices fell in December 2016
Posted at 3:34 PM, Jan 04, 2017
and last updated 2017-01-04 17:34:42-05

DENVER – Two different housing reports show rent prices in Denver fell last month, but still remain among the highest in the country.

A report from Zumper shows that rent for one-bedroom apartments fell by 2.5 percent to a median price of $1,190 per month and that two-bedroom rent prices fell by 1.9 percent to $1,570 per month in December 2016.

Similarly, a report from another apartment rent tracker, Apartment List, show Denver rent fell by 0.4 percent last month. According to its data, one-bedroom apartments had a median rent of $1,350 and two-bedroom apartments had a median rent of $1,760.

The Apartment List report notes that rent is still about 0.8 percent higher than it was last January.

But the Zumper report says the year-over-year rent for one-bedrooms was down by 4.8 percent, and that two-bedroom rent prices were down by 9.2 percent over the last year.

Despite the conflicting figures, the two reports perhaps signal what some experts have said in recent months: that after years of rent increases in the Denver area, rent might finally stagnate or decrease.

And despite the continuing high rent prices, the Apartment List report show Denver has the country’s 15th-highest rent, and the Zumper report shows it has the 24th-highest rent in the country.


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