Is it Cheaper to Rent in Denver or the Suburbs?

West + Main Homes

November 7, 2019
 
 Buying

Apartment List looked at rents in Denver and nine of its suburbs and found Denver to be the cheapest last month.

The Apartment List calculation put Denver’s median rent of $1,354 for a two-bedroom. That was down less than 1 percent over September and up less than 1 percent over October of last year.

A two-bedroom was $1,560 in Arvada; $1,590 in Aurora; $1,640 in Westminster; $1,680 in Castle Rock; $1,700 in Brighton; $1,750 in Broomfield; $1,810 in Parker; $1,910 in Littleton and, topping the list, $1,941 in Thornton. Thornton rents were up 3.6 percent over the past year, the biggest leap in the region, according to Apartment List, which found a similar trend in August.Explore Denver Neighborhoods

Apartment List says data from private listing sites, including its own, tends to be skewed by the rents for luxury apartments. Its monthly analyses weaves in census information to try correct that bias. That might explain differences with the monthly report from Zumper, another online real estate company.

Zumper calculated the median rent for a two-bedroom in Denver at $1,990, down slightly from the previous month and up 2.6 over October of 2018.

While the numbers were different, the trends were similar. Zumper put the national median for a two-bedroom at $1,480, down less than 1 percent over the previous month and up 2.6 percent over last October.

Apartment List’s national median for a two-bedroom was $1,191, up less than 1 percent over the previous month and up 1.4 percent over the previous year.