DENVER – The cost of renting in Denver continued to inch upward last month.
Rental listing site ApartmentList reports that overall, rents were up 0.3 percent in August in the Mile High City. That puts the median cost of a 1-bedroom rental at $1,070 per month and a 2-bedroom rental goes for $1,350.
Compared to the same time last year, rents were up 3 percent, which is lower than the statewide average of 3.8 percent but right on par with national trends.
Lone Tree, which has the highest median rents in the metro area, saw the biggest monthly increase in rent, jumping 1.5 percent to a median of $2,050 for a 2-bedroom unit. Littleton, on the other hand, saw a decrease of 0.3 percent, dropping to $1,840 for a 2-bedroom.
Sacramento, California saw the biggest year-over-year rent increases at 9.4 percent, followed by Arlington, Texas and Reno, Nevada, according to ApartmentList.
To read the full report, log on to apartmentlist.com.