Denver has long been known for its affordable rents. Lately, we’ve seen a rental increase trend among Denver Real Estate. Even still, Denver rents remain more affordable than other cities across the nation.
Colorado is considered to be the second fastest-growing state within the entire county. The entire state has experienced rapid amounts of change. It remains a top destination for individuals around the country seeking to experience its massive economical boom, high employment rates, and beautiful outdoor activities.
This is especially true in terms of the City of Denver. The entire skyline of this capital is constantly evolving with new commercial, business, and residential units quickly emerging.
While it is true that rent amounts are rising in and around Denver, the amount that individuals and families pay is still significantly less than that which they would pay in other comparable cities across the nation.
Thriving Economic Growth
One of the main reasons Denver is so appealing to renters is because the city has been economically thriving over the past two decades. The job market has not only experienced fast growth, but it’s been consistent growth as well.
There are massive amounts of jobs available for the taking. This has a small part in the rising rent prices that are occurring. The jobs in the city are “in-demand”, and the pay rates are spectacular.
Opportunities seem to endlessly abound. While rent prices have increased by 1.7% in the past year, Denver rent rates have only increased by 0.9% during that same time period.
For example, in Denver, a two-bedroom apartment will run about $1,356; however, that same apartment will cost $3,100 in the City of San Francisco.
In terms of health, the State of Colorado – as a whole – is considered to be one of the top 10 healthiest in the country.
This stems from the high level of activity that happens here.
Generally speaking, the area enjoys 300+ days of beautiful sunshine, has a multitude of natural environments to explore and enjoy, offers many outdoor activities, and a wide range of other pursuits that result in low-stress levels, low obesity levels, and high levels of personal satisfaction.
The entire state is exactly on with the state rent average of 1.6%; however, it is the largest metro cities of Denver that saw the rent amounts increase over the past year.
If you want a metro area that has rent amounts that have lowered and still offer an enhanced lifestyle, you should choose the City of Brighton. It is close to Denver, yet has a monthly rate that has fallen a whopping 7.7%!
Many people flock to Denver and the surrounding areas because they are able to pursue a healthy level of balance between work and life.
This is especially true of the City of Thornton. While it has the highest rent prices – over $1,900 for a two-bedroom apartment – it is possible to truly enjoy life. In this area, you will enjoy spectacular scenery, a huge emphasis on being healthy, and other types of enjoyable, refreshing activities that will help you enhance the quality of life that you live. Most agree that the benefits that surround the area, greatly outweigh the issue of rising rents.
Variety and Appeal
There are several breathtaking cities in and around Denver. Examples include Colorado Springs and Fort Collins.
You will find majestic mountains at every turn and that the area is host to wonderful weather.
Best of all, there is a high level of variety and appeal – in terms of the neighborhoods.
In newly developed neighborhoods, you will find a vast amount of modern ambience. In the downtown area, you will discover urban homes that play homage to the city life. In the older areas, you will discover classic structures that speak to the rich history of the region. In these areas, the rents have increased by 3.2% and 1.2% respectively, but in similar areas, the rent has risen in excess of 5%!
A Millennial Haven
Despite a slight increase in rent pricing, Denver is considered to be the ultimate home for millennials. Approximately two-thirds of the entire population is 44 years old or younger. As a result, the atmosphere speaks volumes of modernism and opportunity, but also provides a relaxed atmosphere with stunning views, and neighborhoods that possess their own type of personality.
There an abundance of homes available aside massive mountainous landscapes.
Many young families call this place “home”. As younger generations start to grow older, more innovation occurs – which advances the city, as a whole.
Low Cost of Living
Despite rent prices increasing just a little, Denver has a very low cost of living – especially compared to similar cities across the country.
In general, most spend about $700 on basic expenses. This is $300 less than that of Washington, D.C, and half the costs that would be incurred when living in Seattle or San Francisco.
Shopping venues, restaurants, and other retailers also sell merchandise and services for less than most cities. This is another high level of appeal for those that have an interest in a rental in the region.
While rent is going up in Denver, it is low compared to other areas. Right now, there are many different properties available in and around Denver. Searching may prove to be a challenging task. While many wonderful properties may be found online, there are those that are not advertised broadly.
Denver has property management professionals available that will work closely with you to discover a rental that matches your needs, your personality, and your budget.
We here at Pioneer Property Management have served individuals for over a decade. Our management services are highly proactive and we have successfully aided thousands of people in discovering real estate that is perfect for their needs. In addition to assisting those in search of a rental property, we also specialize in helping investors locate properties that will increase their cash-flow. If you have an interest in Denver real estate, you may contact us today by calling: 720-839-7482