DENVER — While Colorado’s rental rates may seem a little steep to some, it may be reassuring to hear that Colorado is still much more affordable than California or New York and has in fact joined in on the national rental deceleration trend.
But not all Colorado cities are built equal and some places put more strain on renters’ pockets than others. So, which areas within the state itself are the priciest and which could be considered more affordable? This is precisely what Yardi Matrix — a leading commercial real estate research and data platform, tailored specifically to address the needs of the commercial market industry — wanted to find out when they compiled a study on the 50 most expensive Zip Codes in Colorado.
Here are some of their findings:
- Out of 50 Zip Codes, 19 are in the Mile High City. The most expensive Zip Code in the state is Denver’s 80206 with an average rent of $1,991 – about 50 percent above the national average.
- Englewood hijacks top 3 with Zip Code 80113, which boasts an average rent of $1,914. Witnessing a 4 percent increase since last year, this Zip Code has climbed up from the 4th to the 2nd place in 2017.
- Although it ranks the 49th on the list, Zip Code 80538 in Loveland saw the highest rent expansion rate at 8 percent. Here, average rents hover around $1,336.
- Metro Denver has also jumped on the national apartment boom trend alongside Nashville, the Twin Cities and Atlanta, surpassing many larger urban centers. New apartment deliveries will total 13,142 new units in Metro Denver—the 5th largest volume nationally in 2017, surpassed only by Miami, Los Angeles, Houston, Dallas–Fort Worth and naturally, New York.
Image courtesy of Fort Photo.
