Three Colorado Cities Make New List of Most Expensive Places to Rent
Last year, Dwellsy put four Colorado cities on a list of the most expensive places for renters: Denver, Silverthorne, Boulder, and Fort Collins.
An updated report added Edwards to the line-up in October, but now, the company has new research.
Here's what Dwellsy is predicting for Colorado in 2023.
Renters should avoid Colorado's capital city
According to Dwellsy, Denver is the 10th most expensive big city in the U.S. for renters, with a median single-family home monthly rent of $2,540 — a nearly 6% increase from 2021.
In terms of small cities, Boulder also came in 10th place. Rent for single-family homes in the People's Republic spiked by almost 5% from 2021 to $2,595 a month.
A popular Northern Colorado area made the list
Dwellsy revealed that the Fort Collins and Loveland areas are seeing rapid rent growth for three-bedroom homes.
The Front Range hub has a combined median monthly rent of $2,200 — almost 19% more than it was in 2021.
Colorado renters can look on the bright side
Although the Fort Collins and Loveland areas are experiencing rent growth, the cities are no longer on Dwellsy's list of the most expensive places for renters.
The company also dropped Silverthorne and Edwards from the rankings, showing improvement over the end of 2022.
Additionally, Dwellsy reports that the rental market is heading for a "moderation trend," which should provide some relief from the prices of years past.