Cost of Living in Denver, CO (2026): What Renters Should Budget

Updated November 2026. Rent figures reflect October 2026 estimates from Apartment List's November report.

According to the Apartment List November 2026 Rent Index, the median rent across all apartment sizes in Denver is $1,598, with one-bedrooms at $1,414 and two-bedrooms at $1,761. That runs about 15% above the national median of $1,384.

Denver's median rent fell 2.43% over the 12 months through October 2026, while the national median was essentially flat, up 0.06%. Falling rents are market context, not a discount on any one lease: heating, parking, and whether you need a car still decide what a Denver apartment costs you each month.

Denver Cost of Living at a Glance

Source for rent rows: Apartment List's November 2026 release; October 2026 rent estimates. Full method and sources are in the appendix.

How to use these numbers: Start with the rent for the unit size you're considering. Add the planning estimates that apply to you, then replace them with listing-specific charges and your expected usage.

What Is the Median Rent in Denver in 2026?

The median one-bedroom rent in Denver is $1,414, according to the Apartment List November 2026 Rent Index. Two-bedrooms run $1,761 and the all-sizes median is $1,598.

Apartment List reports the median, the market midpoint, rather than a simple average. Apartment List's methodology describes it as the rent a searcher could expect across the full rental market, not only current listings.

Denver's median rent slipped 0.70% in October. In October 2026, 40.4% of Denver properties offered a special worth at least one month of free rent (Apartment List concession rate). Both are citywide figures, not what any one building asks.

How Does Denver Rent Compare With Other Western Cities?

The table sets Denver against selected Mountain West and Southwest cities, its closest in-state alternatives, and the national median. It is not a ranking of every Western rental market.

Source: Apartment List's November 2026 release; October 2026 rent estimates. City-level medians, not total-cost comparisons.

Among the cities compared here, only Boulder runs above Denver. Aurora, inside Denver's own metro, is $81 less, and Colorado Springs $230 less. Denver's $1,598 median is 2.1% below the metro's $1,632. Its $1,761 two-bedroom median runs 4.1% above the metro's $1,691, so compare by unit size before treating a nearby city as savings.

What Salary Do You Need to Rent in Denver?

At the $1,414 median one-bedroom rent (Apartment List, November 2026 report), a rent-only budget of 30% of gross income needs about $56,560 a year.

The shared row assumes an equal split of the two-bedroom median between two renters, $880.50 each. Source: Apartment List's November 2026 release; October 2026 rent estimates.

This is a rent-only starting point, not a landlord approval standard. The U.S. Department of Housing and Urban Development (HUD) 30% benchmark counts utilities, so subtract your expected utilities from 30% of gross monthly income to estimate a maximum base rent. Confirm the property's income and screening requirements separately. Our guide to the 30% rule and how much to spend on rent covers when to flex it.

How Do You Know if You Can Afford a Denver Apartment?

Multiply your gross annual income by 0.30 and divide by 12 for a monthly housing allowance at the 30% benchmark. On a $70,000 salary that is $1,750. Denver's $1,414 one-bedroom median leaves $336 of that allowance, and the $107 electricity estimate takes it to about $229. That $229 is what remains inside the illustrated allowance, not spare income; a car, parking, or a pet fee needs its own take-home-pay math. A $1,761 two-bedroom is $11 over the allowance. The Rent Calculator uses your actual income.

What Should You Budget Beyond Rent in Denver?

The rent, electricity, and grocery subtotal is a partial budget. Add the costs below that it leaves out.

How Much Does Electricity Cost in Denver?

Budget about $107 a month, the Public Utilities Commission's average Xcel Energy residential bill at about 601 kWh after the August 29, 2026 rate increase and the October fuel adjustment. It is an average-use bill, not a fixed 1,000 kWh model, and your own bill depends on usage and rate schedule; apartments with a smart meter default to time-of-use pricing. Ask the property for recent winter and summer bills from a comparable apartment, and whether heating uses electricity or gas.

Do You Need to Budget for Natural Gas in Denver?

Only if the apartment heats or cooks with gas, so ask the property first. Xcel Energy's average residential gas bill is about $64 a month averaged across the year after the October 6, 2026 rate change, and most of the cost arrives in winter. Ask who pays for heating and what the highest winter bill was on a comparable apartment.

How Much Are Water and Sewer Bills in Denver?

The lease decides whether you see a water bill: rent may include it, the property may charge a flat fee or split one building bill, or you may hold a direct account. On a direct Denver Water account the bill is about $36 a month at 5,000 gallons, and sewer and stormwater are separate City of Denver charges. Ask which arrangement the building uses.

How Much Is Public Transit in Denver?

RTD charges $2.75 for a three-hour pass, and fare capping limits spending to $5.50 a day or $88 a month. Check whether a route connects your building to your commute and a light-rail station. If not, plan for a car payment, insurance, fuel, parking, and winter tires. See RTD's current fare page for discount eligibility and airport fares.

How Much Should You Budget for Groceries in Denver?

Use about $441 a month as a starting grocery allowance for one adult cooking at home, from the USDA Moderate-Cost plan (September 2026 report). That is a national benchmark, not a Denver price.

How Do Solo and Shared Denver Budgets Compare?

Illustrative partial budget covering rent, electricity, and groceries only; the remaining costs are listed in the table above. Source: Apartment List's November 2026 release; October 2026 rent estimates. The shared column splits one modeled electric bill equally between two renters, an illustrative assumption, since a two-bedroom's actual use can differ from a one-bedroom's; each renter buys groceries separately at the one-adult allowance.

Each roommate carries $533.50 a month less rent than a solo renter, roughly $6,402 a year, and about $587 less once the shared electric bill is counted.

Compare Denver With Your Current City

If you are moving to Denver from somewhere else, compare total cost rather than rent alone. The Apartment List Cost of Living Calculator compares two cities using after-tax income, so work out your Colorado take-home pay first. Whether you'd still need a car is the next number to price.

What Should You Confirm Before Paying an Application Fee?

Apartment List is free for renters to use. Confirm any application, administrative, or move-in fees directly with the property. Use the listing's rent, not the Denver median, as your working number, then check three things:

1. Your recurring monthly total: the listing's rent plus the rows above that apply to you.

2. Your separate move-in total, in writing: deposit, application, administrative, pet, and parking fees, plus any concessions.

3. Property-specific charges still unresolved, such as which utilities rent includes and which electric rate schedule the meter is on.

Rate My Rent grades a listing you're already considering against comparable local apartments.

How Should You Budget for a Denver Apartment When Rents Are Falling?

Denver's median rent is 2.43% lower than a year ago, so you have room to compare. Compare apartments by rent, heating costs, and commute. Ask for recent utility bills and confirm parking charges before applying. If living alone stretches your allowance, use the shared two-bedroom example above to compare a roommate option.

Then browse Denver apartments for the sizes and neighborhoods you have priced.

Appendix: Methodology and Data Sources

Apartment List rent figures throughout this guide come from the Apartment List Rent Estimates, November 2026 release, with data as of October 2026, built on the Apartment List Rent Estimate Methodology, a same-unit, repeat-transaction analysis.

Income figures are calculations based on the cited Apartment List rent medians and the 30% rent-to-income benchmark (monthly rent x 12 / 0.30, rounded to the nearest $10; the shared row uses the exact $880.50 share), not measured income data.

Electricity is the Colorado PUC's average residential bill at about 601 kWh ($109.92 after the August 29, 2026 rate increase, less the $3.07 October fuel adjustment), before taxes; it is an average-use figure, not the fixed 1,000 kWh model used in other Apartment List city guides. Groceries are the USDA Moderate-Cost plan for one adult, September 2026 report: the average of the female and male 20 to 50 monthly costs, increased 20% for a one-person household. The $1,962 subtotal combines the median one-bedroom rent with those two estimates and excludes natural gas, water and sewer, transportation, internet, insurance, and parking.

Frequently Asked Questions About Denver Rent and Cost of Living

What Is the Average Rent in Denver?

Apartment List reports medians, not simple averages. As of October 2026, Denver's median is $1,414 for a one-bedroom, $1,761 for a two-bedroom, and $1,598 across all sizes.

Is Denver Rent Going Up or Down?

Down 2.43% over the 12 months through October 2026 and 0.70% in October alone, according to the Apartment List November 2026 Rent Index. The national median rose 0.06%, essentially flat.

Is Denver Affordable for Renters?

It depends on your income and whether you rent alone. At the rent-only 30% benchmark, the $1,414 one-bedroom median needs about $56,560 a year, and a split $1,761 two-bedroom about $35,220 per renter. These are budgeting estimates; each property sets its own income and screening requirements. Utilities, a car, and parking sit outside these figures.

How Much Are Utilities in a Denver Apartment?

Budget about $107 a month for electricity at about 600 kWh, and about $64 a month for natural gas only if the unit uses it. Water is about $36 a month at 5,000 gallons on a direct Denver Water account; if the property bills or splits water, you pay its charge.