The Denver rental market is a dynamic and ever-changing landscape. With the city’s population continuing to grow, it’s important for renters to stay informed about current trends in order to make an educated decision when searching for their next home. To help with this process, we’ve compiled 20 statistics on the Denver rental market that provide insight into average rent prices, year-over-year growth rates, occupancy levels, pet policies and more. Whether you’re looking for a one bedroom apartment or luxury unit near public transportation lines – these stats will give you an idea of what your options are in terms of price points and availability across different neighborhoods throughout the city.
Denver Rental Market Statistics Overview
Approximately 50% of Denver residents are renters.
This statistic is a telling indication of the Denver rental market, highlighting the fact that half of the city’s population is comprised of renters. This statistic is important to consider when discussing the rental market in Denver, as it provides insight into the demand for rental properties and the potential for growth in the market.
As of 2021, the population of renters in Denver is estimated to be 341,137.
This statistic is a key indicator of the current state of the Denver rental market. It provides insight into the number of people who are renting in the city, which can be used to gauge the demand for rental properties and the overall health of the rental market. Additionally, this statistic can be used to compare the rental market in Denver to other cities, helping to identify potential opportunities for investors and landlords.
35% of Denver renters spend more than 30% of their income on housing.
This statistic is a stark reminder of the financial burden that many Denver renters face. It highlights the fact that a significant portion of the population is struggling to make ends meet due to the high cost of housing. This statistic is a call to action for policy makers to take steps to make housing more affordable for Denver residents.
As of November 2021, the rental vacancy rate in Denver is 5.5%.
The statistic that the rental vacancy rate in Denver is 5.5% as of November 2021 is a crucial indicator of the current state of the Denver rental market. This figure provides insight into the availability of rental properties in the city, and can be used to gauge the level of competition among renters. It can also be used to inform decisions about rental prices, as landlords may adjust their rates based on the vacancy rate. Ultimately, this statistic is an important piece of the puzzle when it comes to understanding the Denver rental market.
Rent in Denver is 12.17% lower than the national average rent price.
This statistic is a testament to the affordability of Denver’s rental market, making it an attractive option for those looking to rent. It demonstrates that Denver is a great place to live without having to break the bank. This is especially important for those who are on a budget or who are looking to save money. This statistic is a great indicator of the overall affordability of Denver’s rental market and is an important factor to consider when looking for a place to rent.
Rent near public transportation lines in Denver is 10-20% higher than the city average.
This statistic is indicative of the fact that living near public transportation lines in Denver is a desirable option for renters, as they are willing to pay a premium for the convenience of having easy access to public transportation. This is an important factor to consider when discussing the Denver rental market, as it demonstrates the value that renters place on living near public transportation.
The Denver rental market is a competitive and dynamic environment. The average rent for an apartment in the city is $1,670, with 1-bedroom units averaging at $1,453 and 2-bedrooms costing around $1,817. Luxury apartments have an even higher price tag of approximately $2,693 per month. Renters can expect to pay more if they choose to live near public transportation lines as prices are 10-20% higher than the city average there.
Rent growth has been on the rise since September 2021 when it was 5.6%, while occupancy rates remain high at 95%. This trend looks set to continue into 2022 with projections of 4% growth rate throughout that year. Currently 341,137 people call themselves renters in Denver – making up 50% of its population – but 35% spend over 30 percent of their income on housing costs alone due to rising rents across all neighborhoods including Capitol Hill which saw 8.2 % increase from August 2020 till now . On top of this , 24 %of rentals consist single family homes and 39 .4 % pet friendly units respectively . All these factors combined make renting in Denver slightly cheaper than other cities nationwide (12 .17%) yet still expensive enough for many residents who struggle financially each month despite having access to larger living spaces (average size being 841 square feet).
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