Denver renters have the fastest rising costs in Colorado
Oh great, so we’re back to news that makes me hyperventilate over my life choices.
Denver renters saw the biggest increase in costs, a 17.72 percent increase since 2007, among Colorado metros, according to an analysis from Apartment List. Using census data, they determined average rental costs in 2014 were up to $1,078.
Now, Apartment list estimates that the average cost for a Denver one-bedroom is $1,330.
Close behind, Boulder and Fort Collins renters both saw costs increase over 16.5 percent since 2007.
So if you’re a Colorado homeowner, you’re feeling a bit smug. Since 2007, mortgage costs have fallen across the board because of falling interest rates, Apartment List says.
So while Denver renters saw costs go up almost 18 percent, Denver homeowners saw their costs decrease nearly 15 percent. That’s only the second-biggest gap though — Fort Collins had the biggest gap between renter and owner costs, partly because homeowners saw their costs fall 16.22 percent.
Despite these benefits, overall homeownership in Denver has fallen 8.7 percent since 2007. And Hispanic rates of homeownership have fallen even further, down 9.7 percent to 41 percent overall in 2014.