Denver expected to have third-highest rent hike in the coming year, says Zillow

staff photo
Megan Arellano
A high rise and a handful of old houses in the Cheesman Park neighborhood. (Kevin J. Beaty/Denverite) residential real estate; house; home; cheesman park; denver; denverite; kevinjbeaty; colorado;

A high rise and a handful of old houses in the Cheesman Park neighborhood. (Kevin J. Beaty/Denverite)

If Denver rents climbed the same way that I did, they would be sitting down on the fourth floor landing of your stairwell right now saying, “Cool, I think I’m good here.”

But since rents are inanimate and Denver is popular, of course the cost of living is expected to rise again. Zillow predicts by August 2017, Denver rents will have increased 5.9 percent for a median rent of $2,131.

Zillow says that Denver’s growth is driven in part by technology jobs. But communities outside of Denver like Bailey and Derby are expected to have the biggest increases in rent, with projected gains of over 10 percent.

Wherever you rent, I’ll recommend at least one deep sigh over prices because Denver has the third-highest expected rent hike among 35 largest metro markets covered by Zillow.

Or laugh at your friends in the Pacific Northwest — Seattle rents are expected to rise 7.2 percent and Portland rents are expected to rise 6 percent. I’m not one to tell you how to mourn.

 

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