According to the latest Zumper’s National Rent Index, Denver ranked as the 24th most expensive city with one-bedroom rent falling 1.2% in July to $1,680, while two-bedrooms dropped 1.3% to $2,270. On an annual basis, Denver rents are both down about 9%.
Nationally, the National Rent Index reveals either flat or declining rates across the board. The median one-bedroom rent held steady this July at $1,520, while two-bedrooms dipped 0.3% to $1,905. On an annual basis, one and two-bedroom rents are down 0.7% and 0.3%, respectively.
Tech-centric coastal cities dominate at the top. New York City remains the most expensive rental market, though prices have declined on a monthly basis for the third consecutive month. The market is still adjusting to the newly passed FARE Act, which shifts broker fee responsibilities from renters to property owners. In response, some landlords are raising asking rents to offset the change, while reports of ‘shadow listings‘, or units kept off public platforms like Zumper to steer renters toward broker-exclusive deals, suggest that some agents are reverting to less transparent tactics. These bait-and-switch strategies distort visibility into true market conditions, adding noise to the data. As the market recalibrates, we’ll continue monitoring how these shifts impact both rent pricing and access.
“Even with ongoing economic uncertainty, the U.S. rental market continues to demonstrate striking resilience,” says Zumper CEO, Anthemos Georgiades. “While the national rent rates are slightly down from last year, that softness is misleading. In the context of a historic wave of new supply, the limited decline in rents is a strong indicator of how powerful renter demand remains.”
Comparatively, a Zumper Denver Metro Report, released on July 1, analyzed active listings in June across Denver metro cities to show the most and least expensive cities with the fastest growing rents. Broomfield was the most expensive city with one-bedrooms priced at $1,880. Boulder & Castle Rock were tied for the second priciest with rents both at $1,800. Denver ranked as third with rent at $1,700.
You can view the full report here: https://www.zumper.com/#rent-report
