Average Rent in Denver Jumped $36 in December, says Report
The average rent in Colorado reached $1,519 in December, increasing 2.9 percent, according to data provided by Yardi Matrix. Out of the 22 cities analyzed, rent prices declined in only two markets, by 0.2 percent.
Nationally, apartments were renting for $1,474 on average at the end of 2019, after the slowest annual rise in the past 17 months (3 percent). Furthermore, rates displayed a slower yearly growth at the end of 2019 than in the previous year, when they went up by 3.2 percent.
Highlights for Colorado:
- Rents in Denver reached $1,652 after an annual increase of 2.2%, or $36. However, over the month, the average rent price declined by 0.5%, meaning tenants had to pay $8 less;
- The most expensive apartments for rent are in Boulder, where the average rental price is $1,964. Highlands Ranch is the runner-up, with an average rent of $1,747;
- Greeley has the cheapest rental apartments, hitting in December an average rate of $1,176.
- Colorado Springs is one the most affordable city in the state ($1,193), despite having the highest annual increase in price (7.2%);
- Aurora ($1,335) saw one of the smallest annual increases in the average rent price, going up by 0.2%, or $3;
Access the full Colorado Year End Rent Report here.