Rental prices up 9% in last year in Denver metro area, average 1-bedroom is $1,030 per month

DENVER - Rental prices are continuing to increase in the Denver metro area.

In the last year, Denver metro rents have grown nine percent, according to ApartmentList.com. In the rest of the country, rental rates are up 2.5 percent.

ApartmentList.com said Denver metro rents jumped 1.5 percent in March alone.

"The robust economy and spike in migrations to Colorado have led to an influx of new demand for housing in Denver," ApartmentList.com said. "At the same time, the supply of apartments available to these new residents has not been able to keep up with the demand, leading to intense pressure on housing prices."

In March, the average rent for 1-bedroom unit in the city of Denver averaged $1030. Rent for a 2-bedroom unit averaged $1400.

That's 40 percent above the national average, ApartmentList.com said.

Across the Denver metro area, average rents were $1310 for a 2-bedroom.

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