Rent costs are on the rise across the nation, according to the first National Rent Report of 2020, compiled by Apartment List. Nationally, rent costs increased 1.4 percent from December 2018 to December 2019; however, some cities actually are bucking the trend and seeing rent costs fall.
Colorado is among communities where rent costs increased in 2019. According to the report, rent increased 1.6 percent from December 2018 to December 2019.
Rent in Colorado Springs has gone up by a whopping 27.3 percent over the past five years, and Aurora has gone up by 22 percent. Denver's rent increased by 0.8 percent.
Other rent estimates for Colorado are included in the report. Median prices were figured using data from December 2018 to December 2019:
- Median One-Bedroom Rent: $1,043
- Median Two-Bedroom Rent: $1,323
To determine the data, Apartment List uses the Department of Housing and Urban Development's Fair Market Rent Calculation Methodology, but instead analyzes rental-specific market trends. Read more about the National Rent Report methodology.
According to the report, Mesa, Arizona, had the fastest year-over-year rent growth among cities with a population of 250,000 or more. In 2019, rent in Mesa increased 5.1 percent. Mesa was followed by Henderson, Nevada, at 4.3 percent, and Phoenix, Arizona, at 3.8 percent.
Stockton, California, led the cities with the fastest rent growth in the last five years. Since 2014, rent in Stockton has increased 28.5 percent.
These are the top 10 cities with the fastest rent growth in the last five years:
- Stockton, California
- Colorado Springs, Colorado
- Mesa, Arizona
- Arlington, Texas
- Henderson, Nevada
- Tampa, Florida
- Aurora, Colorado
- Phoenix, Arizona
- Sacramento, California
- Anaheim, California
Nationally, rent costs increased 11.3 percent since 2014. See the full report and where other communities rank here.
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January 10, 2020 at 07:07AM
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Rent In Colorado: Prices Climbed In 2019 - Patch.com
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