DENVER – The last four months of 2017 saw declines in rent prices in Denver but rents were up overall for the year, according to the latest numbers from ApartmentList.
The median cost of a two-bedroom rental in Denver dropped slightly to $1,310 in December. That’s down from $1,320 in November. A one-bedroom rents for $1,030.
Compared to the same time last year, Denver rents are up 1.6 percent. That’s actually behind the national and statewide averages, both of which were 2.7 percent for the year.
Despite the increase, Denver actually remains one of the more affordable cities in the metro area and also ranked among the smallest increases. Broomfield, which had a median two-bedroom rent of $1,640 in December, saw the steepest rent increases -- 5.8 percent year-over-year.
Here’s how the metro area’s 10 biggest cities compare on rent increases:
Broomfield: Up 5.8 percent
Golden: Up 4.6 percent
Aurora: Up 4.1 percent
Westminster: Up 3.2 percent
Arvada: Up 3.0 percent
Littleton: Up 2.2 percent
Thornton: Up 1.8 percent
Denver: Up 1.6 percent
Englewood: Up 0.8 percent
Lone Tree: Up 0.8 percent
Some U.S. cities that saw steeper rent increases in 2017 include Phoenix (up 3.9 percent), Los Angeles (up 3.8 percent) and San Diego (up 3.4 percent).
To read the full report, log on to apartmentlist.com.