Nope, Denver renters, it’s not your imagination. Mile High median rent is significantly higher than it was this time in 2021, according to online apartment rental site Zumper’s National Rent Report.
Over the past year, one-bedroom apartments jumped 20.7%, to $1,690, and two-bedrooms jumped 13.50%, to $2,180.
Those numbers far outpace the 8% in inflation we’re seeing in the local economy.
From Dec. 2021 to Jan. 2022, one-bedroom rent shot up by 5%, though two-bedroom rent dropped by -1.40%.
New York City still boasts the highest rent in the country. One-bedrooms are running $3,100, or 26.00% higher than they were last year, and two-bedrooms rent for about $3,300, or 29.40% higher than they were last year. Denver, comparatively, is a steal, explaining why so many New Yorkers are moving here.
If you’re looking for cheaper digs, consider a move to Wichita, Kansas, where one-bedroom rent is $650 and two-bedrooms are going for $800 a month. Milwaukee made its mark as the number one city for falling one-bedroom rent prices; they dropped to $950 month-to-month by around 5%.
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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
