June 2016 Colorado Apartment List Rent Report
Welcome to the June 2016 Colorado Apartment List Rent Report! Colorado rents remain well above the national median for the past month, and rents are increasing once again after a brief decline in growth. In this report, we’ll look at trends across the whole state as well as variations between cities.
Colorado Rent Prices
In Colorado, rents increased by 1.3% from April to May. They are now up 4.8% over last year, with 1-bedrooms at $1,260 and 2-bedrooms at $1,490.
Top 10 Most Expensive Cities
- Boulder: Boulder had the most expensive median rents from April to May. A 2-bedroom in Boulder runs a median rent price of $1,830, while 1-bedrooms have a median price of $1,460. Rents there have increased by 5.6% over last year.
- Centennial: Centennial claims 3rd place for Colorado's most expensive rents. A 2-bedroom in Centennial goes for $1,690, and rents there have grown by 2.4% year-over-year.
- Aurora: Aurora was Colorado's 8th most expensive city, with a median price of $1,380 for a 2-bedroom and $1,050 for a 1-bedroom. Aurora rent prices also grew by 6.8% year-over-year, the 6th highest of any Colorado City.
Top 10 Cities With the Fastest Rent Growth
- Arvada: Arvada (2-bedroom median rent price $1,400) came in as the city with the strongest year-over-year growth at 11.3%. Month-over-month, Arvada rents increased by 0.4%.
- Aurora and Westminster: Aurora (2-bedrooms for $1,380) tied with Westminster (2-beds for $1,550) for 5th highest year-over-year growth in Colorado, up 6.8% over May 2015. 1-bedroom units in Aurora and Westminster had median prices of $1,050 and $1,250, respectively.
- Denver: Colorado's capital (median 2-bedroom rent $1,770) placed 8th for rent growth in Colorado, showing a 3.9% increase year-over-year. 1-bedroom rents in Denver ran a median price of $1,390.
For full data and methodology, please see below. As always, feel free to contact us with any questions.
Data & Methodology
|Castle Rock, CO||City||$1,460||3.7%|
|Colorado Springs, CO||City||$780||$1,000||0.7%||9.4%|
Apartment List Rent Report data is drawn monthly from the millions of listings on our site. 1-bedroom and 2-bedroom rents are calculated as the median for units available in the specified size and time period. Price changes are calculated using a “same unit” methodology similar to the Case-Shiller “repeat sales” home prices methodology, taking the average price change for units available across both time periods.
About Apartment List Rent Reports:
Apartment List’s Rent Reports cover rental pricing data in major cities, their suburbs, and their neighborhoods. We provide valuable leading indicators of rental price trends, highlight data on top cities, and identify the key facts renters should know. As always, our goal is to provide price transparency to America’s 105 million renters to help them make the best possible decisions in choosing a place to call home.