denver apartments / housing for rent "private owner" - craigslist (2024)

FAQs

How much is rent in Denver 2024? ›

What is the average rent in Denver, CO? As of June 2024, the average rent in Denver, CO is $1,705 per month. For comparison, the national average rent price in the US is currently $1,518/month, which means Denver rent prices are 12% higher than the national average.

Denver, Colorado, is often considered a desirable place to live for many reasons. It boasts a thriving economy, a diverse cultural scene, access to outdoor recreation in the nearby Rocky Mountains, and a generally high quality of life.

The median listing home price in Denver, CO was $615K in May 2024, trending down -3.2% year-over-year. The median listing home price per square foot was $396. The median home sold price was $620.5K.

Welcome to the Apartment List June 2024 Rent Report for Denver, CO. Currently, the overall median rent in the city stands at $1,787, after rising 0.8% last month. Prices remain down 0.3% year-over-year.

The study says people in the city need an hourly wage of $66.62 and a salary of almost $140,000 to live comfortably. While the comfortable wage across large Colorado cities is over $45 an hour, the Colorado minimum wage is currently $14.42 and in Denver, it's $18.29.

The demand for apartments in Denver is at its lowest in winter, during December and January. So, if you find an apartment that fits your needs, the winter months will give you a chance to negotiate for a better price than in summer when demand is high.

Denver winters are quite mild

While it can get decidedly chilly sometimes, overall temperatures during the winter months are moderate. “Even the coldest month, December, has an average daily high temperature of 45 degrees, and days reaching 60 degrees are fairly common,” Wagner said.

One of the best Denver neighborhoods, Cherry Creek, offers arts, shopping, restaurants and upscale housing near downtown Denver.

Benefits of Moving to Denver, CO

Aerospace, defense, biotech, healthcare, finance, and hospitality make up the major industry sectors, with research opportunities at several top-notch universities.

Nationally, a mortgage payment costs $1,027 more than a monthly rent payment. In Denver, the median rent is $1,911 and the monthly buying cost is $3,223, according to Realtor.com's February rental report. That means buyers would pay 68.7% more than renters.

How much does it cost to live in Denver for a single person? ›

Summary of cost of living in Denver, CO, United States: A family of four estimated monthly costs are 4,646.6$ without rent. A single person estimated monthly costs are 1,285.8$ without rent. Denver is 22.5% less expensive than New York (without rent).

Are Home Prices Dropping in Denver, CO? No. While the Denver market has seen some moderation in price growth compared to the peak frenzy of 2021, home prices haven't dropped significantly. They've continued to show a modest year-over-year increase.

Rents and Vacancy Stablize in 2024. Many experts thought rents would trend down this year, but the supply and demand economics stabilized rents and vacancies in Metro Denver.

When demand is higher than supply, prices rise. After years of skyrocketing rents, the price of an apartment has stayed largely stable in recent months. Average rent in the metro dropped by $18 in the last quarters of 2023 to $1,870 in the region, according to the Colorado Apartment Association's quarterly report.

But even lower interest rates aren't a solve for Denver's housing shortage. Hines compared the stock of existing homes, either to rent or buy, with the city population's housing demand and found it came up short. Denver needs 53,000 more homes to meet residents' needs, according to Hines data quoted in Axios.

For metro Denver, the average home price by September 2030 would reach $928,267. Based on Renofi's estimates, metro Denver would rank as the 11th most expensive housing market out of the top 50 metros, right behind Washington, D.C., and ahead of Portland, Ore.

Summary of cost of living in Denver, CO, United States: A family of four estimated monthly costs are 4,647.7$ without rent. A single person estimated monthly costs are 1,286.1$ without rent. Denver is 22.5% less expensive than New York (without rent).