DENVER - Here's some (tentatively) good news for people feeling the pressure from rising rents in Denver: Rent prices held steady in the first month of the year.
The cost of renting remained at $1,030 for a one-bedroom apartment and $1,310 for a two-bedroom in January, according to rental listing site ApartmentList. Those prices are slightly lower than November's median rents.
While it's been a few months since the Denver area has seen an increase in median rents, prices are still up overall -- they've risen by 2.1 percent since January 2017. Statewide, rents are up by 2.7 percent.
While most cities in the metro area either held steady or saw slight decreases -- Littleton's rents actually dropped more than 1 percent in January -- Englewood saw an increase of 1.1 percent. Golden's rents also increased by nearly a percentage point.
Denver itself continues to have some of the lowest rents in the metro area. Lone Tree has the highest rents at $1,920 for a two-bedroom and $1,520 for a one-bedroom.
Here are how other metro cities compare on median two-bedroom rents:
- Lone Tree: $1,920
- Parker: $1,800
- Littleton: $1,800
- Thornton: $1,760
- Broomfield: $1,640
- Westminster: $1,550
- Golden: $1,550
- Brighton: $1,540
- Aurora: $1,510
- Englewood: $1,500
- Arvada: $1,490
- Denver: $1,310
Nationally, rents were down slightly in January but were up by 2.6 percent year-over-year. Sacramento is seeing the fastest-growing rents in the country -- rents there have increased 9.3 percent over the past year.
To read the full report, log on to apartmentlist.com.