Rents in Denver increase 1.2 percent in July

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DENVER — Rents increased across the Denver metro area in July, according to a report from ApartmentList.

Rents in Denver were up 1.2 percent in July, the sixth consecutive month of increases.

The median cost of a one-bedroom rental in Denver was $1,060 last month, while the average for a two-bedroom rental was $1,350, according to the report.

Rents are up 2.7 percent in Denver since July 2016 with only a slight drop in January.

The year-over-year average statewide was 3.7 percent. The state median for a two-bedroom rental was $1,290, up 1.1 percent. Nationally, the increase was 2.9 percent.

While rents are up in Denver, other large cities have seen bigger increases, including Seattle (5.6 percent), Phoenix (5 percent) and Los Angeles (4.8 percent).

ApartmentList said Denver has more expensive prices than most similar-sized cities.

Median rents in Denver are lower than those of other metro-area cities, according to the report.

Lone Tree had the highest, with a one-bedroom rental going for $1,590 and a two-bedroom rental costing $2,020, up 7.7 percent from July 2016.

Year-over-year rentals were also up in Arvada (up 4.2 percent to $1,190 for a one bedroom and $1,500 for a two bedroom); Aurora (up 5.1 percent to $1,240 and $1,570); Broomfield (up 3.9 percent to $1,320 and $1,660); Englewood (up 2.8 percent to $1,210 and $1,530); Littleton (up 2.9 percent to $1,450 and $1,840); Thornton (up 3.4 percent to $1,430 and $1,810); and Westminster (up 2.5 percent for $1,250 and $1,580).
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