DENVER – The cost of renting in Denver continues to climb but prices are increasing at slower rates than the rest of the state and other parts of the country.
That’s according to the latest data from rental listing site ApartmentList.
ApartmentList’s March rent report shows the median rents in Denver last month were $1,040 for a one-bedroom rental and $1,320 for a two-bedroom unit. Those prices are up slightly from the month before – about half of a percentage point – and up nearly 2 percent compared to the same time last year.
Statewide, rents in Colorado are up by 2.3 percent year-over-year, while Colorado Springs has seen a yearly increase of 4.6 percent and Fort Collins rents are up 3.7 percent year-over-year, according to ApartmentList.
Nationally, rents have increased by 2 percent in the past year.
The fastest-growing rents in the Denver metro area last month were in Parker, according to ApartmentList, which saw an increase of 1.8 percent from February. Castle Rock was the only city in the metro area to see a slight decrease.
Here’s where the median rent for a two-bedroom apartment currently stands in some of the metro area’s biggest cities:
Lone Tree: $1,940
Castle Rock: $1,720
To read the full report, log on to apartmentlist.com.