Denver median rents have held steady month to month, up 0.2% over the past month 0.9% year over year. Denver’s rents are higher than the national figure, according to Apartment List.
Currently Denver rents stand at $1357 for a two bedroom, but I have to be honest I know a lot of renters and none of them are paying that. This would be considered a steal. So, I wonder how inner city pricing vs suburban pricing is combining for this average. If you calculate the rates among the Denver Metro area an average 2 bedroom rental costs $1854 which sounds much more in line with the active rental market. See how much home you can buy in Denver for $1900 per month.
Zumper, another online real estate company, looked at more than 1 million of its listings in 100 cities across the country to come up with its February results. Zumper put the two-bedroom median rent for Denver at $1,900.
Have you ever heard of rental prime time as a landlord? Well here is the graph that shows it. If you can plan for your property to be vacant between May-July you’ll rent at the peak market. So yes, there is a strategy to cash flow your investment properties more.
Average rents across the Denver metro area for 2 bedrooms is $1854
Denver rents more affordable than many other large cities nationwide
As rents have increased marginally in Denver, a few comparable cities nationwide have also seen rents grow modestly. Denver is still more affordable than most similar cities across the country.
Rents increased moderately in other cities across the state, with Colorado as a whole logging rent growth of 1.6% over the past year. For example, rents have grown by 3.2% in Colorado Springs and 1.2% in Fort Collins.
Renters will find more reasonable prices in Denver than most other large cities. For example, San Francisco has a median 2BR rent of $3,100, which is more than twice the price in Denver. (If you’re still wondering why so many people from SF are moving to Denver, here’s a great example.)
Don’t pay someone else’s mortgage and don’t continue to be that person that says I wish I would have bought 1, 3, 5, years ago. If you’re a renter you’ve heard it or said it. If I only would have bought 3 years ago, well you’re going to be saying the same thing in 3 years as values rise. So, now is the time to get into the Denver real estate market and start gaining your own home equity. See what Denver homes your $1900 monthly payment could buy.
If you’re looking at this information from an investor’s point of view I am an experienced real estate investor and happy to help you find the right rental property.