Colorado Politics

Report: Despite Denver’s rent rising, it remains more affordable than other large US cities

Compared to cities like Austin, Phoenix and San Francisco, a new report found that people are less likely to break their bank if renting in Denver.

Rents nationwide have grown by 1.7% over the past year compared with 0.9% in the Mile High City, according to Apartment List, an online real estate company.

Denver’s median two-bedroom rent of $1,356, however, remains higher than the national average of about $1,200. Still, San Francisco’s median two-bedroom rent is more than double Denver’s price at $3,100.

In Colorado, rent is nearly on par with the national average at 1.6%.

Of Denver metro’s 10 largest cities, nine – including Westminster, Thornton and Denver proper – saw price increases over the last year. Interestingly, Brighton is the only city in the metro whose rents have fallen, with a decrease of 7.7%. Its median two-bedroom rents are still higher than Denver’s by about $325.

Thornton tops the list of the most expensive rents of Denver metro’s largest cities. Median rent for two-bedroom apartment is currently $1,931.

Outside of the metro area, Colorado Springs saw a rent increase of 3.2% over the past year, while rent in Fort Collins rose by 1.2%.

Data reported by Apartment List is compiled from both the U.S. Census Bureau and its own listings.

The Denver skyline at twilight. (iStock/Getty Images)
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