Denver has fallen behind much smaller cities such as Madison, Wisconsin on a list of the country's most expensive places to rent an apartment.

Denver fell three spots to No. 24 nationally on the list compiled by San Francisco-based apartment rental site Zumper.

The median price of a one-bedroom Denver rental is now $1,220, which is a drop of 3.2 percent from the previous month and a drop of 7.6 percent year over year, according to Zumper.

San Francisco remains the nation's priciest city to rent, with a monthly median rent of $3,330.

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