Median rent in Denver area jumps 13% in 2015
Category : News
Article by Molly Armbrister
Reporter with the Denver Business Journal
Median rents in the Denver metro area increased by 13 percent year-over-year in the first quarter, and average rents climbed 12 percent, according to the latest data from the Apartment Association of Metro Denver.
The median rent for all sizes of units metro-wide hit $1,158 per month in the first quarter, up from $1,021 in the same period of 2014. Average rent increased to $1,204 per month from $1,073.
“It’s important to look at both median and average rent, because the overall average rent of $1,204 is being skewed to some degree by the newly constructed Class A buildings,” said Mark Williams, executive vice president of the Apartment Association of Metro Denver.