Amid the coronavirus outbreak, Denver rents were down in April
People just aren’t moving as much.
The Quayle apartments on Broadway, Nov. 21, 2019. (Kevin J. Beaty/Denverite)
People are staying put during the novel coronavirus outbreak, decreasing demand for apartments and flattening prices, online real estate companies said.
In its latest monthly rent report, Apartment List calculated the median for a two-bedroom in Denver at $1,356, down 0.2 percent over March and up just 0.4 over March of 2019. Apartment List said people often think about moving this time of year and rent prices increase, but this year is different due to safety concerns and economic uncertainty sparked by the coronavirus.
Zumper, another online real estate company, offered similar analysis in its April report, which put the median for a two-bedroom in Denver at $1,860, down 3.1 percent from March this year and 7 percent from March of 2019.
Apartment List bases its estimates on data from both the Census and its own listings. Zumper uses its own listings.
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