On average, Denver residents have 553 square feet per renter.
Denver is the nation's ninth-best large city for renters, while two neighboring cities are among the nation's top 50 cities for renters, according to a recent report from RentCafe's report.
With quality of life and cost of living as two of the main categories determining the overall rankings, Westminster and Colorado Springs found themselves as the 35th and 46th top overall cities for renters, respectively, while Denver snagged 36th.
According to RentCafe, Denver's local economy was the best performing category that landed it as the No. 9 best large city for renters and having the 18th-highest number of highly rated schools helped boost the Mile High City's ranking, RentCafe said. Jacksonville, Florida, took the No. 1 spot, representing the south that dominated the rankings. Cities in Florida and Texas made up 50% of the overall report's Top 10 best large cities for renters.
Round Rock, Texas, secured the No. 1 spot for overall best cities for renters, however, Colorado held its ground against the south across the board in other rankings. Colorado Springs was ranked the No. 8 best mid-sized city for renters, which saw Raleigh, North Carolina, come in as the No. 1 city with quality of life as the top-performing category. Trailing briefly behind Colorado Springs as the No. 10 best mid-sized city for renters is Tulsa, Oklahoma, which has lured tech professionals out of Denver.
While Denver's average renter's income is $59,499 with a citywide unemployment rate of 4.3%, according to RentCafe, 26.6% of the city's apartments are in top locations. RentCafe's source, Yardi Matrix, defines "top locations" using a number of factors including education of area household heads and well-maintained housing development.
On average, Denver residents have 553 square feet per renter, while Lakewood renters have 611 square feet, and those in Westminster have 519 square feet, according to a May report from RentCafe.
On average in Denver, $1,500 will get renters a 681-square-foot apartment, whereas in Aurora it will earn renters 792 square feet, RentCafe reports.
While rent is on the rise in Denver and Coloradans worry about the cost of living, Denver has the ninth-highest share of newly built apartments (25%), according to RentCafe.
Westminster appeared in RentCafe's rankings due to 51% of their apartments being located in coveted spots and averaging 861 square feet while the local economy is seeing 5.5% job growth.
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