Rents in Denver increase again, up 3 percent over past year

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DENVER — It continues to be expensive to rent in the Denver metro area, according to a monthly report released Friday by apartment-finding firm Apartment List.

Rents rose only 0.3 percent in August, according to the report.

The median rate for a one-bedroom apartment in Denver reached $1,070, while the cost for two-bedroom units increased to $1,350.

While the increase in August was slight, rents are up 3 percent from August 2016. Statewide, rents for one- and two-bedroom units were up 3.8 percent from last year.

The national average also increased 3 percent over the past year, but median rates are lower. The average rent for a two-bedroom unit nationally is $1,160 a month.

Lone Tree continues to have the highest median rents in the Denver metro area. Rents jumped 1.5 percent last month to a median of $1,620 for a one-bedroom unit and $2,050 for a two-bedroom unit. Those prices are up 9.4 percent over the past year.

Other cities in the metro area have higher rents than Denver.

  • Arvada: $1,190 for a one bedroom $1,510 for a two bedroom; up 0.7 percent in August, up 4.8 percent the past year.
  • Aurora: $1,250 for a one bedroom $1,580 for a two bedroom; up 0.4 percent in August, up 5.8 percent the past year.
  • Broomfield: $1,330 for a one bedroom $1,670 for a two bedroom; up 0.2 percent in August, up 4 percent the past year.
  • Englewood: $1,210 for a one bedroom $1,530 for a two bedroom; unchanged in August, up 2.8 percent the past year.
  • Littleton: $1,450 for a one bedroom $1,840 for a two bedroom; down 0.3 percent in August, up 2.7 percent the past year.
  • Thornton: $1,440 for a one bedroom $1,820 for a two bedroom; up 0.5 percent in August, up 3.5 percent the past year.
  • Westminster: $1,250 for a one bedroom $1,580 for a two bedroom; unchanged in August, up 2.8 percent the past year.

 

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