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Colorado Rents Retain Momentum Buying Still A Cheaper Option
Dated: February 3 2016
Apartment rent increases continued on a glide path in many parts of the state, retaining enough momentum to keep Colorado ahead of the U.S. averages in January, according to an update from Apartment List.
Year over year, Colorado apartment rents increased 6.2 percent in January, with the median rent on a one-bedroom statewide at $1,310 a month and two-bedrooms at $1,590. Nationally, median rents rose at a 3.3 percent annual pace in January.
But month-over-month apartment rent gains statewide have stalled, with Golden, Loveland, Parker, Littleton, Greenwood Village and Highlands Ranch among the areas seeing declines, according to Apartment List, an online marketplace for rentals.
That includes some of Denver's more affordable suburbs, where annual rent increases continue to run in the double digits.
Westminster led the state with a 14.5 percent annual gain in January, but it showed a 1.2 percent decline from December to January. The median rent on a two-bedroom apartment there is at $1,490 and a one-bedroom at $1,160.
Annual median apartment rents were up 13.8 percent in Northglenn, 11.8 percent in Thornton and 10.8 percent in Arvada. Thornton and Northglenn retained monthly momentum, but Arvada saw a 1.1 percent monthly decline.
Colorado Springs, although it jumped on the rent escalator later than cities along the northern Front Range, is making up for lost time with a 10.4 percent annual increase and a 0.8 percent monthly increase.
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My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....