2017 Denver Rental Market Recap

2017 Denver Rental Market Recap

Denver, Colorado Rental Rates 2017

 

2017 ended with a significant increase in rental prices. Rents were up compared to 2016, but the increases are modest compared to the 49% increase from five years ago! The majority of rent growth for 2017 happened in the second half of the year. Are we in for another year of increases or will things stabilize with more inventory hitting the market in the first and second quarter of 2018? Stay tuned…

Median Denver Metro Area Rents ($)

People keep saying rent is expensive in Denver. We have a map to prove it. When you dig into it, median rents are above $1,500 in all but one neighborhood for the fourth quarter. The hot spots shouldn’t be surprising with the exception of Greenwood Village. Denver Tech center living is getting more attractive as well as pricey!

View map in larger screen here.

Median Denver Metro Area Rents (per square foot)

Rent per square foot is the best indicator for apartment and attached condos/loft comparison. When using this chart, know that rent PSF is a monthly figure and will give you a good starting point on how far your budget will go. So, for example, if you’re budgeting $1,500 per month for rent and you want to live in LoDo, you can expect to lease approximately 717 square feet ($1500/$2.09). Think of this map as a 30,000 feet view of the rental prices in Denver. You can click on each neighborhood for exact numbers and year-over-year statistics.

View map in larger screen here.

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