Denver's median rent reached $1,950 in July. Nearly half of all renters are now considered cost-burdened, spending over 30% of their income on housing.
Key Takeaways
- Rent-to-income ratio averaged 28% in Denver.
- 35% of renters spend over 30% income on rent.
- Median renter income $65,000 vs rent burden $1,900.
- Denver rents projected to rise 4.5% in 2025.
- Vacancy expected to stabilize at 4.5% through 2026.
- Supply pipeline to add 8,000 units by end-2025.
- In Q2 2024, Denver's median rent for a 1-bedroom apartment reached $1,820, up 3.2% year-over-year.
- Average rent for 2-bedroom units in Denver metro area was $2,310 in June 2024.
- Denver's overall median rent stood at $1,950 per month as of July 2024: June 2026.
- Overall Denver inventory for rentals increased by 2,500 units in 2024.
- Demand for 1-bedroom units outpaced supply by 15%.
- New listings hit 1,200 per month average in summer 2024.
- Denver's rental vacancy rate dropped to 4.2% in Q2 2024.
- Occupancy rates for Class A apartments reached 95.8% in Denver.
- Metro Denver vacancy rate averaged 5.1% as of June 2024: June 2026.
Denver rents rose as incomes lagged, leaving many households rent burdened amid a large affordable unit shortage.
Related reading
01 · Category
Affordability Metrics23 stats
01
Rent-to-income ratio averaged 28% in Denver.
02
35% of renters spend over 30% income on rent.
03
Median renter income $65,000vs rent burden $1,900.
04
Affordable housing gap: 15,000 units short.
05
Cost-burdened renters increased to 48%.
06
Rent as % of median household income: 32%.
07
Low-income renters (under $50k) burden at 52%.
08
Voucher utilization covered only 20% of need.
09
Homeownership alternative: rent 45% cheaper than owning.
10
Young professionals rent burden 34% average.
11
Senior renters affordability index 65/100.
12
Utility-inclusive rents improved affordability by 8%.
13
Rent control proposals target 10% burdened households.
14
Wage growth lagged rent inflation by 2.1%.
15
Subsidized units housed 12% of renters.
16
Rent relief programs aided 5,000 households.
17
Eviction filings correlated with 40% burden threshold.
18
BIPOC renters burden 10% higher than white renters.
19
Single-parent households rent burden 45%.
20
Co-living options reduced burden to 25%.
21
Inflation-adjusted rent growth outpaced incomes 3%.
22
Threshold for severe burden: $45k income limit.
23
Renters priced out: 22% moved to suburbs.
Interpretation
Affordability Metrics Interpretation
Here is a witty but serious one sentence interpretation of those Denver rental market statistics:
Denver's rental market is a masterclass in economic irony, where owning a home is often cheaper than renting, yet nearly half of all renters are financially burdened by a system that has voucher programs covering only a fifth of the need, leaving a glaring deficit of 15,000 affordable units.
02 · Category
Market Forecasts and Trends23 stats
01
Denver rents projected to rise 4.5% in 2025.
02
Vacancy expected to stabilize at 4.5% through 2026.
03
Supply pipeline to add 8,000 units by end-2025.
04
Rent growth slowdown to 2.8% annually projected.
05
Demand from millennials to peak in 2026.
06
Multifamily starts to decline 15% in 2025.
07
Luxury segment growth capped at 3% YoY.
08
Suburban expansion to drive 20% supply increase.
09
Occupancy to hit 96% with economic recovery.
10
Rent per sq ft to reach $2.25by 2026.
11
Tech job growth to boost demand 5% annually.
12
Affordability measures to temper growth to 2%.
13
Short-term rentals to face 10% regulation squeeze.
14
Class A absorption forecast at 3,000 units/year.
15
Population growth to add 15,000 households by 2027.
16
EV amenities to become standard in 40% new builds.
17
Rent stabilization to limit increases to 4% max.
18
Remote work trend sustains 1-bed demand surge.
19
Oversupply risk peaks Q4 2025 at moderate level.
20
Student influx to raise seasonal demand 8%.
21
Sustainability features to premium rents 5-7%.
22
Economic slowdown risk: rent growth to 1.5%.
23
ADU boom to add 2,000 units annually.
Interpretation
Market Forecasts and Trends Interpretation
The Denver rental market is bracing for a controlled squeeze where rising demand, particularly from millennials and tech workers, will persistently nudge rents upward, but a wave of new supply and affordability measures should prevent things from boiling over.
03 · Category
Rental Prices30 stats
01
In Q2 2024, Denver's median rent for a 1-bedroom apartment reached $1,820,up 3.2% year-over-year.
02
Average rent for 2-bedroom units in Denver metro area was $2,310in June 2024.
03
Denver's overall median rent stood at $1,950per month as of July 2024: June 2026.
04
One-bedroom rents in downtown Denver averaged $2,100in 2024.
05
Year-over-year rent growth in Denver suburbs was 4.1% for studios at $1,450.
06
Median 3-bedroom rent in Denver hit $3,200in May 2024.
07
Luxury apartment rents in Denver averaged $3,500+ for 2-beds in Q1 2024.
08
Rent prices for single-family homes in Denver rose to $2,800monthly average.
09
Denver's cheapest neighborhoods saw 1-bed rents at $1,300in 2024.
10
Premium rents in LoDo area averaged $2,900for 1-beds.
11
2024 average rent increase in Denver was 2.8% across all unit types.
12
Studios in Capitol Hill averaged $1,600monthly in summer 2024.
13
2-bed townhome rents in Aurora suburbs hit $2,200.
14
Denver's median rent per square foot was $2.10in Q3 2024.
15
High-end 3-bed apartments rented for $4,200average.
16
Year-to-date rent growth for 1-beds was 5.2% as of August 2024: June 2026.
17
Average rent for garden-style apartments was $1,950.
18
Baker neighborhood 1-bed rents at $1,750median.
19
2024 peak rent season saw 2-beds at $2,450average.
20
Mid-rise building rents averaged $2,300for 2-beds.
21
Rent stabilization efforts capped increases at 5% in some areas.
22
Washington Park 1-bed average rent $2,050.
23
Overall Denver rent index rose 4.5% YoY in 2024.
24
4-bedroom family rentals averaged $4,000monthly.
25
Short-term rental rates averaged $250/night for 2-beds.
26
Highland neighborhood median rent $2,150for 1-bed.
27
Rent for basements and ADUs averaged $1,200.
28
Corporate housing rents at $3,000/month average.
29
Student housing near DU averaged $1,400for shared units.
30
Pet-friendly 2-bed rents premium of $150over standard.
Interpretation
Rental Prices Interpretation
Denver's rental market is essentially telling its residents, "You will pay nearly two grand for a shoebox, be grateful it's not a golden shoebox, and please ignore the fact that your entire paycheck now has a downtown zip code."
More related reading
04 · Category
Supply and Demand23 stats
01
Overall Denver inventory for rentals increased by 2,500 units in 2024.
02
Demand for 1-bedroom units outpaced supply by 15%.
03
New listings hit 1,200 per month average in summer 2024.
04
Absorption rate for multifamily was 1,800 units quarterly.
05
Under-construction units totaled 12,000 across metro.
06
Lease-up velocity for new properties at 92% in 6 months.
07
Demand drivers included 10,000 new jobs in tech sector.
08
Supply growth slowed to 3.5% annually.
09
Competition index for renters rose to 45/100.
10
Pending leases outnumbered available units 2:1.
11
In-migration added 25,000 potential renters yearly.
12
Oversupply risk in suburbs lowered to low level.
13
Active listings for 2-beds grew 8% QoQ.
14
Demand for luxury units exceeded supply by 20%.
15
Household formation rate boosted demand by 4%.
16
Supply of affordable units declined 5% YoY.
17
Rental applications per unit averaged 18 in peak season.
18
Net absorption positive at 2,200 units in Q2.
19
Remote worker influx increased demand 12%.
20
Planned deliveries for 2025: 5,000 units.
21
Vacant unit utilization rate at 85%.
22
EV charger-equipped units supply doubled.
23
Oversized units demand surged 25% post-pandemic.
Interpretation
Supply and Demand Interpretation
Denver's rental market is a frenzied tug-of-war where a flood of new apartments can't quite keep up with the horde of new renters, especially those hunting for one-bedrooms and luxury units, leaving everyone feeling the squeeze except suburban landlords who are running out of empty boxes.
05 · Category
Vacancy and Occupancy26 stats
01
Denver's rental vacancy rate dropped to 4.2% in Q2 2024.
02
Occupancy rates for Class A apartments reached 95.8% in Denver.
03
Metro Denver vacancy rate averaged 5.1% as of June 2024: June 2026.
04
Downtown Denver office-to-residential conversions boosted occupancy to 92%.
05
Suburban vacancy rates fell to 4.8% for multifamily units.
06
Class B properties had 6.2% vacancy in Q1 2024.
07
Overall occupancy in Denver rentals hit 94.5% year-to-date.
08
Vacancy in 1-bedroom units was 3.9%, lowest segment.
09
Luxury segment vacancy at 2.8% due to high demand.
10
Family-sized units vacancy rose slightly to 5.5%.
11
Average days on market for rentals shortened to 22 days.
12
95% occupancy in new builds within first year.
13
Vacancy rate in Aurora was 4.9%, higher than city average.
14
Stabilized occupancy at 93.2% for older properties.
15
Short-term rental occupancy averaged 78% annually.
16
Class C vacancy climbed to 7.1% amid maintenance issues.
17
Neighborhood vacancy in Five Points at 3.5%.
18
Overall metro vacancy tightened by 1.2% YoY.
19
Student housing occupancy near CU Denver at 98%.
20
Pet-inclusive units had 1% lower vacancy than non-pet.
21
Vacancy for 2-beds specifically at 4.5%.
22
Senior living rentals vacancy at 6.8%.
23
ADU vacancy rate under 2% due to demand.
24
Corporate-leased occupancy at 97%.
25
Loft conversions vacancy at 3.2%.
26
Winter vacancy peaked at 5.8% before dropping.
Interpretation
Vacancy and Occupancy Interpretation
With vacancy rates hitting historic lows across almost every category, Denver's rental market has become so tight that even the luxury units are blushing at all the attention.
Reference
Cite This Report
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APA
Megan Gallagher. (2026, February 13). Denver Rental Market Statistics. Gitnux. https://gitnux.org/denver-rental-market-statistics
MLA
Megan Gallagher. "Denver Rental Market Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/denver-rental-market-statistics.
Chicago
Megan Gallagher. 2026. "Denver Rental Market Statistics." Gitnux. https://gitnux.org/denver-rental-market-statistics.
Sources & references
73 datasets cited across this report