Denver rent growth is still going strong in the apartment sphere, with many of the metro areas still seeing gains from year-to-year. But none have soared as high as one Denver suburb: Brighton. In just one year, rents in Brighton increased 17%, putting it at the top of the chart for rent increases in the Denver metro area over the last year.
The Stats For Brighton
Double-digit growth is no small feat, even more so when it takes place in just one year! Average rents according to Apartment List landed at $1440 for a 1-bedroom apartment and $1820 for a 2-bedroom. Brighton’s neighbor, Thornton, saw another year-over-year increase, though not in the double digits. Rents in the northern suburb increased just under 7%, with 1-bedroom apartments averaging at $1490 and 2-bedrooms at $1890. Denver saw the lowest gains, coming in at 2.4% year-over-year.
Some Rise, Some Fall
Not all of the Denver metro suburbs saw increases in rent from last year. Rents in Parker actually decreased, dropping down 3.5% from this time last year. One-bedroom apartments in the southern suburb averaged at $1390, with 2-bedrooms coming in at $1760.
How Does Denver Stack Up?
But how did Denver compare across the state and the nation? Fort Collins saw gains of 2.6% year-over-year, while Colorado Springs saw a 2% increase. Statewide, average rents increased about 2.3%, while nationally rents only increased 0.9%.
Overall, rents in the Denver Metro area are still going strong. So long as demand continues, rents will continue to tick upwards. No matter how high, an increase is always good news for those who choose to rent out their properties! And if you’re a tenant, count yourself lucky Denver doesn’t compare to San Francisco, where the median 2-bedroom apartment is over twice what it is here!