Denver rent median falling during the pandemic

Apartment List calculated the median rent for a two-bedroom apartment in Denver at $1,344 in July.

The Hidden Brook Apartments in East Colfax, Nov. 21, 2019. (Kevin J. Beaty/Denverite)

The Hidden Brook Apartments in East Colfax, Nov. 21, 2019. (Kevin J. Beaty/Denverite)

Donna Bryson. (Kevin J. Beaty/Denverite)

The online real estate company Apartment List calculated the median rent for a two-bedroom apartment in Denver at $1,344 in July, down 1.1 percent in the months since the pandemic and an accompanying economic slowdown began and down 1.6 percent from July of 2019.

The downward trend that the national real estate company found was similar to what locals are seeing. The latest quarterly survey conducted for the Apartment Association of Metro Denver found the median rent for an apartment in the Denver area dropped 1.4 percent, to $1,454, between the first and second quarter of this year and slightly from $1,462 in the second quarter of 2019. It was the first time in a decade that the Apartment Association survey conducted by the University of Denver’s Daniels College of Business and Colorado Economic and Management Associates found rents had gone down.

The national Apartment List estimates are based on data from both the Census and the company’s own listings.

Zumper, another online real estate company, looks at its own listings in 100 cities across the country. Zumper put the median rent for a two-bedroom Denver apartment at $1,900 in July, up 1.1 percent over the previous month and down 2.6 percent compared to July 2019.

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