Are rents in Denver falling? Depends on who you ask

9NEWS @ 9. 11/1/2016

KUSA - Apartment prices in Denver have fallen slightly, but not every renter has seen the difference yet.

New surveys show a small dip last month compared to the year before.

Based on rent prices in October, Denver is no longer in the top 20 most expensive rental markets in the country.

RELATED: Denver apartment rents appear to be falling

That's according to a new survey by Zumper, a San Francisco-based apartment search site.

It found the median price for a one bedroom apartment in Denver last month was $1,260 -- $40 cheaper than October 2015.

The Apartment Association of Metro Denver says the average price for a one bedroom during this past summer was even cheaper at $1,220 per month.

“It's very typical for rents to go down as people move out," DU Associate Professor of Real Estate Ron Throupe said. "You get a little bit of concessions to move people in [and] to keep people in units and then in the spring they move up again. At least that's what historically happens."

Throupe also believes prices may be stabilizing. 

For now, rental prices in the metro are expected to stay a mixed bag and we won't know if there is a trend of any kind until perhaps April or May.

Copyright 2016 KUSA


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