274 Luxury Apartments for rent in Denver, CO

Last updated August 21 at 10:06pm UTC

August 2018 Denver Rent Report

Welcome to the August 2018 Denver Rent Report. Denver rents increased over the past month. In this report, we'll evaluate trends in the Denver rental market, including comparisons to cities throughout the metro, state, and nation.

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Rent Report
Denver

August 2018 Denver Rent Report

Welcome to the August 2018 Denver Rent Report. Denver rents increased over the past month. In this report, we'll evaluate trends in the Denver rental market, including comparisons to cities throughout the metro, state, and nation.

Denver rents increase sharply over the past month

Denver rents have increased 0.6% over the past month, but have been relatively flat at 0.2% in comparison to the same time last year. Currently, median rents in Denver stand at $1,060 for a one-bedroom apartment and $1,350 for a two-bedroom. This is the sixth straight month that the city has seen rent increases after a decline in January. Denver's year-over-year rent growth lags the state average of 0.5%, as well as the national average of 1.2%.

Rents rising across the Denver Metro

While rents have remained steady in the city of Denver throughout the past year, cities across the metro have seen a different trend. Rents have risen in 8 of of the largest 10 cities in the Denver metro for which we have data. Here's a look at how rents compare across some of the largest cities in the metro.

  • Parker has the most expensive rents in the Denver metro, with a two-bedroom median of $1,870; however, the city has also seen rents fall by 1.0% over the past year, the biggest drop in the metro.
  • Brighton has seen the fastest rent growth in the metro, with a year-over-year increase of 6.2%. The median two-bedroom there costs $1,610, while one-bedrooms go for $1,270.
  • Denver proper has the least expensive rents in the Denver metro, with a two-bedroom median of $1,350; rents rose 0.6% over the past month but remained flat year-over-year.

Denver rents more affordable than many similar cities nationwide

Rent growth in Denver has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Denver is still more affordable than most comparable cities across the country.

  • Other cities across the state have seen rents slightly increase, with Colorado as a whole logging rent growth of 0.5% over the past year. For example, rents have grown by 1.7% in Colorado Springs and 0.6% in Fort Collins.
  • Denver's median two-bedroom rent of $1,350 is above the national average of $1,180. Nationwide, rents have grown by 1.2% over the past year compared to the stagnant growth in Denver.
  • While rents in Denver remained moderately stable this year, similar cities saw increases, including Phoenix (+2.4%), Charlotte (+1.5%), and Los Angeles (+1.3%); note that median 2BR rents in these cities go for $1,050, $1,120, and $1,750 respectively.
  • Renters will find more reasonable prices in Denver than most other large cities. For example, San Francisco has a median 2BR rent of $3,090, which is more than twice the price in Denver.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Denver $1,060 $1,350 0.6% 0.2%
Aurora $1,230 $1,560 0.7% -0.8%
Thornton $1,470 $1,860 0.3% 2.5%
Arvada $1,220 $1,540 -0.3% 2.6%
Westminster $1,270 $1,610 -0.1% 1.8%
Broomfield $1,360 $1,710 0.4% 2.9%
Castle Rock $1,400 $1,770 -1.6% 4.1%
Parker $1,480 $1,870 1.3% -1.0%
Littleton $1,470 $1,860 0.8% 1.3%
Brighton $1,270 $1,610 -0.1% 6.2%
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Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.