Multifamily

Apartment Market Report Year End 2017

DENVER — According to the recent RENTCafé 2017 Year End Rent Report, the city of Denver has witnessed a 4.8 percent rent increase year-over year, with the average hitting $1,530 in December. That translates into renters paying $840 additional rent over 2017 compared to 2016.

By comparison, the national average apartment rent in 2017 increased by 2.5 percent y-o-y, reaching $1,359/month at the end of 2017, according to Yardi Matrix.

The average credit score for accepted rental applications in the Mile High City was 676, above the national average (650).

At the end of 2017, rents in Aurora clocked in at $1,279 after a 5.4 percent increase Y-o-Y.

Rents also increased in Lakewood last year, by 3.9 percent. In December, the average rent clocked in at $1,413.

Colorado Springs saw a 6.2 percent increase Y-o-Y. the average rental rate there is currently $1,072/month.

 

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