DENVER (KDVR) — A new report found it may be cheaper to rent in Denver than in most of its suburbs.
“This is the second-steepest October rent decline that we’ve seen in the history of our index,” which dates back to 2017, Apartment List analysts wrote.
In Denver proper, analysts found rent is an estimated 9% lower than across the metro area. Among the 17 cities analyzed, Denver ranked near the cheapest median price for a two-bedroom rental.
At $1,750, the median rent for a two-bedroom in Denver is nearly the same as in Lakewood and only slightly cheaper than in Englewood, according to the report. Renters in the southern suburbs of Lone Tree and Highlands Ranch will pay the most, with median rent surpassing $2,300.
Only three cities showed median rent prices cheaper than Denver: Aurora, Arvada and Wheat Ridge. Prospective tenants can find the best deal in Wheat Ridge at an estimated $1,482 a month.
Rent prices in Denver and surrounding cities
Apartment List said it determines monthly rent estimates by calculating U.S. Census Bureau data with the site’s rental listings. Here are the two-bedroom rent estimates for Denver and surrounding cities.
|Rank||Colorado City||Median Rent, 2-Bedroom|
While Denver may have cheaper rent than most of its neighbors, it’s still 17.2% higher than the national median, according to the report.
Rent prices in Denver rank 35 among the nation’s largest 100 cities. Apartment List found Denver’s rent prices are comparable to Austin, Texas, and St. Petersburg, Florida.
Topping the list — by far — were median rent prices in Irvine, California. The Orange County city saw a median rent price of $3,149.