Denver is the No.1 Best Large City to Rent a New Apartment
As rentals are a red-hot commodity and many apartment buildings across the U.S. are almost fully occupied, renters have a better chance of finding a new place to call home in newly built rental communities.
But where should they look for recently built apartments?
To determine the top 50 best cities to rent a new apartment, RentCafe analyzed the number of new rentals opened between 2012 and 2021, the quality of their neighborhood, the average living space and occupancy rates.
According to the report, the Mile High City is the country’s No.1 place to rent new apartments in highly desirable locations. As one of Colorado’s most thriving cities, Denver has consistently been attracting young professionals looking for good job opportunities in an exciting place.
Here are the highlights:
- Between 2012 and 2021, the number of new apartments in Denver increased by a whopping 68.8%. Around 38,700 new rentals hit the market during this timeframe, with 37.7% of them in coveted locations.
- New apartments in Denver offer a great amount of living space — 856 sq. ft. For renters embracing remote work, it’s enough to designate an area for a home office.
- Renters craving that new apartment vibe have around 9% of newly built vacant rentals in Denver to choose from, as only 91.1% of these rentals are occupied.
- At the metro level, Westminster is another Colorado hotspot where renters can easily find newly built apartments in desirable locations. In 10 years, the number of new apartments increased by almost 32% and 80.9% of them are in coveted areas.