Rents in Denver rose 0.2% over the past month and have increased by less than the statewide average since March 2019.

Apartment List, which is an online marketplace for rentals, found that Denver is more affordable than similar cities in the U.S., and that the city itself had lower average rents for two-bedroom apartments than neighboring jurisdictions in the metro area.

“Renters will find more reasonable prices in Denver than most comparable cities. For example, San Francisco has a median two-bedroom rent of $3,102, which is more than twice the price in Denver,” the company wrote.

Median one-bedroom apartments cost $1,070 in Denver, compared with $1,500 in Littleton, the most expensive city listed. Westminster saw the fastest growth in rents in the past year, at nearly 5%, while Brighton was the only metro area jurisdiction to see rents decrease.

“Denver’s year-over-year rent growth lags the state average of 1.7%, as well as the national average of 1.9%,” Apartment List noted, adding that March was the fourth straight month of increases following a decline in November.

The findings come amid news that construction activity has taken a sharp drop due to the COVID-19 outbreak, with 39% of contractors reporting cancellations or pauses to construction, the Associated General Contractors of America reported. However, jurisdictions have taken differing approaches to residential construction, with some deeming it an essential activity.