Denver rents up 8.3 percent, more than three times national average! Rents in the Denver metro area are continuing their unbridled climb and are up 8.3 percent from last year, more than triple the national average, according to data released Thursday by Apartment List.The Denver Rental Price Monitor produced by the San Francisco-based real estate research firm shows that two-bedroom apartments in metro Denver are renting for $1,320 per month on average, an increase of 8.3 percent from May of 2014.Nationally, average rents for a two-bedroom were up 2.7 percent from a year ago.In Denver proper, one-bedroom units averaged at 1,030 per month - an increase of 1.1 percent from April - and two-bedroom rents of $1,420 were nearly 40 percent above the national average.The priciest metro-area city outside Denver is Broomfield, where one-bedrooms are averaging at $1,330 per month and two-bedrooms are averaging at $1,660.With net migration hovering in the 45,000 to 50,000 range for this year, the rising rents should continue through at least the end of the year, said Gary Horvath, an independent economist based in Broomfield."I don't see anything that's going to slow it down," he said, noting strong job gains and economic growth in both Colorado and the nation.(Article courtesy of Denver Business Journal) Interest Rates are still low, Stop throwing your money away and paying for someone else's mortgage. Now is a great time to buy and or team is here to HELP! Click here to start your Home Search Today!
