Denver Colorado Residential Rent and Rental Statistics
The median monthly gross residential rent in Denver, CO (the Denver-Aurora-Broomfield metro area) was $1,468 in 2019 according to the Census ACS survey.1 Average gross rent in Denver was $1,471 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Denver median and average rent data will be released in September of 2021.
Data is also available below for Denver rental vacancy rates, Denver rent as a percent of median income and the fraction of renters in Denver.
Real Gross Rent in Denver Colorado (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Colorado Median Gross Rent | $1,369 | +4.34% | +11.66% |
| Denver, CO Median Gross Rent | $1,468 | +3.89% | +8.98% |
Denver, CO Real Gross Rent Trends
At $1,468, real median gross rent in Denver was at its highest level in 2019 since the series began in 2005. At $1,471, real average gross rent in Denver was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Denver: Denver CO Median, Denver CO Average, Colorado Median, US Median
Real Gross Rent History for Denver
| Date | US Median |
Colorado Median |
Denver, CO Median |
Denver, CO Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,369 | $1,468 | $1,471 |
| 2018 | $1,077 | $1,312 | $1,413 | $1,427 |
| 2017 | $1,043 | $1,279 | $1,394 | $1,406 |
| 2016 | $1,027 | $1,226 | $1,347 | $1,355 |
| 2015 | $1,017 | $1,179 | $1,256 | $1,301 |
| 2014 | $986 | $1,077 | $1,138 | $1,178 |
| 2013 | $953 | $1,023 | $1,051 | $1,115 |
| 2012 | $940 | $994 | $1,022 | $1,081 |
| 2011 | $941 | $972 | $994 | $1,061 |
| 2010 | $955 | $964 | $982 | $1,058 |
| 2009 | $960 | $970 | $998 | $1,067 |
| 2007 | $927 | $926 | $942 | $1,008 |
| 2005 | $910 | $946 | $971 | $1,030 |
Denver Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Denver Colorado was 4.24% according to Census ACS data.
Rental Vacancy Rate in Denver Colorado
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Colorado | 4.60% | -0.67% | +0.31% |
| Denver, CO | 4.24% | -0.59% | +0.63% |
Trends in Denver, CO Rental Vacancy Rate
The rental vacancy rate in Denver peaked in 2005 at 9.70%. Since then it has fallen by 5.46% to 4.24%. Data records for this series originated in 2005. From a 2015 post peak low of 3.41%, the rental vacancy rate has increased by 0.83%.
Rental Vacancy Rate: Denver CO, Colorado, US
Historical Rental Vacancy Rate data for Denver
| Date | US | Colorado | Denver, CO |
|---|---|---|---|
| 2019 | 5.97% | 4.60% | 4.24% |
| 2018 | 6.15% | 5.27% | 4.83% |
| 2017 | 6.18% | 5.18% | 5.22% |
| 2016 | 5.89% | 4.29% | 3.61% |
| 2015 | 5.85% | 4.47% | 3.41% |
| 2014 | 6.32% | 4.85% | 3.97% |
| 2013 | 6.49% | 5.26% | 4.00% |
| 2012 | 6.77% | 5.69% | 4.94% |
| 2011 | 7.40% | 5.63% | 5.10% |
| 2010 | 8.17% | 6.72% | 6.47% |
| 2009 | 8.43% | 8.00% | 7.75% |
| 2007 | 7.87% | 8.63% | 8.40% |
| 2005 | 7.74% | 9.35% | 9.70% |
Rent as a Fraction of Income
Using median household income data for Denver, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Denver, median monthly gross rent as a fraction of median household income was 20.57% in 2019 according to the ACS.
Denver Colorado Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Colorado | 21.30% | -0.20% | -0.09% |
| Denver, CO | 20.57% | -0.39% | -0.89% |
Trends in Denver, CO Rent as a Fraction of Income
The fraction of median Denver household income required to pay median monthly gross rent peaked in 2016 (relative to the 2005 series origin) at 21.46%. Since then it has fallen by 0.89% to 20.57%.
Fraction of Income towards Rent: Denver CO, Colorado, US
Historical Data for Annual Rent as a Fraction of Income in Denver Colorado
| Date | US | Colorado | Denver, CO |
|---|---|---|---|
| 2019 | 20.03% | 21.30% | 20.57% |
| 2018 | 20.50% | 21.50% | 20.96% |
| 2017 | 20.13% | 21.53% | 21.17% |
| 2016 | 20.43% | 21.39% | 21.46% |
| 2015 | 20.63% | 20.86% | 20.22% |
| 2014 | 20.89% | 19.97% | 19.34% |
| 2013 | 20.78% | 19.81% | 19.08% |
| 2012 | 20.65% | 19.74% | 18.77% |
| 2011 | 20.70% | 19.50% | 18.64% |
| 2010 | 20.50% | 19.16% | 17.96% |
| 2009 | 20.12% | 18.42% | 17.81% |
| 2007 | 18.66% | 17.13% | 16.35% |
| 2005 | 18.89% | 17.93% | 16.98% |
Renter Fraction in Denver Colorado
You can calculate the renter fraction in Denver in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Denver as a fraction of total Denver households. In 2019 35.74% of households were renters according to Census ACS data.
Denver Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Colorado | 34.15% | -0.71% | -1.09% |
| Denver, CO | 35.74% | -1.16% | -0.47% |
Trends in the Denver, CO Renter Fraction
The Denver household renter fraction peaked in in 2014 at 37.68% and is now 1.94% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Denver CO, Colorado, US
History of Denver Renter Fraction
| Date | US | Colorado | Denver, CO |
|---|---|---|---|
| 2019 | 35.89% | 34.15% | 35.74% |
| 2018 | 36.05% | 34.86% | 36.90% |
| 2017 | 36.13% | 34.80% | 35.86% |
| 2016 | 36.88% | 35.24% | 36.21% |
| 2015 | 36.97% | 36.25% | 37.06% |
| 2014 | 36.90% | 36.14% | 37.68% |
| 2013 | 36.50% | 35.49% | 36.52% |
| 2012 | 36.09% | 35.97% | 37.58% |
| 2011 | 35.42% | 35.62% | 37.03% |
| 2010 | 34.65% | 34.06% | 35.21% |
| 2009 | 34.13% | 32.99% | 34.40% |
| 2007 | 32.80% | 31.17% | 31.80% |
| 2005 | 33.10% | 32.18% | 32.17% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
