Zumper has just released its latest National Rent Report, including data for the Denver metro area. The report covers 100 cities nationwide, with data aggregated from over one million active listings, and includes a National Rent Index for one and two bedroom units.
Highlights
- Zumper’s National Rent Index showed the fourth straight month of flat or declining rates across the board: one-bedroom median rent decreased 0.4% this month to $1,511, while two-bedrooms fell 0.3% to $1,888. On an annual basis, one and two-bedroom prices are down 1.5% and 1.2%, respectively.
- Meanwhile, Denver ranked as the 24th most expensive rental market in the nation this month, with the prices of one and two bedrooms settling at medians of $1,300 and $1,450, respectively.
- Notably, the price of two-bedrooms in Denver is down 6% since this time last year.
For renters, the current environment represents a rare opportunity to negotiate favorable lease terms and explore upgraded living situations. For property owners, navigating this supply-heavy landscape will require strategic pricing, creative concessions, and patience as the market works through this current high inventory state.
“With the rental market now entering the seasonally slower months, a clearer picture of the sector’s trajectory may not emerge until the spring leasing season begins,” said Zumper CEO Anthemos Georgiades. “Until then, the interplay between abundant supply, cautious consumer behavior, and economic uncertainty will continue to define market conditions.”
The full discussion can be found here: https://www.zumper.com/rent-research/national-rent-report
