A survey of average one-bedroom rent prices for every Denver neighborhood shows that costs have generally continued to rise over the past two years, with some areas experiencing spikes that are truly eye-popping, particularly at the upper end of a scale. But there are significant exceptions from area to area, and bargains can still be found, as exemplified by a handful of neighborhoods where one-bedrooms are going for $1,000 or less.
We’ve broken down the prices for the spring of 2019 as estimated by Zumper into four categories: $1,000 or lower, $1,001 to $1,200, $1,201 to $1,500 and $1,500 or more. In addition, you’ll find assorted comparisons to prices the company registered for its spring 2017 Denver report. Direct juxtapositions are difficult at times given that Zumper doesn’t always use the city’s official neighborhood designations and some of its boundaries have changed over the past two years. But despite these limitations, the results paint a vivid portrait of the impact rapid growth and a high demand for housing has had on folks looking for shelter they can afford.
$1,000 or lower
In the spring of 2017, one-bedrooms at this price point could be found in twelve Denver neighborhoods. That total has fallen to ten. But the cost of the average one-bedroom in the least expensive neighborhood, Montbello, is just $1 higher than for the biggest bargain spot two years ago: $800 versus $799 in Harvey Park, where rents have zoomed upward over the past 24 months. The current average one-bedroom rent in the latter neighborhood is $1,200.
Other comparisons show instances where one-bedroom rents have remained flat (Westwood’s current $950 average is the same as in the spring of 2017) or increased by percentages in the single digits: Mar Lee one-bedrooms have gone from $850 two years ago to $915 today.
The other Denver neighborhoods that fall within this range are Elyria-Swansea ($890), Fort Logan and Valverde (both $950), Bear Valley ($995), and Barnum West, Regis and University (all $1,000).
Of our four categories, this one is the second largest, with 21 Denver neighborhoods falling within it — and while some, like Harvey Park, have seen substantial price increases over the past two years, others have gone in the opposite direction. Note that today’s average one-bedroom rent in Capitol Hill, $1,200, is $50 lower than it was in the spring of 2017.
Average rents of $1,200 or lower can presently be found in just about every quadrant of the city proper: to the west (Villa Park, at $1,100), east (East Colfax, at $1,010), north (Northeast Park Hill, at $1,175) and south (University Hills, at $1,150). But most of them are a considerable distance from downtown. Arguably the closest is Lincoln Park, where the average one-bedroom rent stands at $1,200 right now.
The neighborhoods in this grouping with average one-bedroom rent up to $1,100, beyond those already mentioned, are Harvey Park South and Montclair ($1,010), Ruby Hill ($1,050), Indian Creek ($1,090) and Clayton, College View-South Platte, Hale, University Park, Villa Park and Washington-Virginia Vale (all $1,100).
Those from from $1,101 to $1,200 are Virginia Village ($1,115), University Hills ($1,150), Congress Park ($1,195), and Hampden, South Park Hill and Windsor (all $1,200).
More Denver neighborhoods — 29 of them — currently sport average one-bedroom rents in this range than any other. And the fluctuations of price have been considerable for many of them.
The neighborhood that experienced the largest leap in price is Athmar Park. In the spring of 2017, the average rent for a one-bedroom stood at $900. Today, the same size place will cost $1,390 on average — a boost of more than 50 percent. More modest increases have been experienced in Stapleton (from $1,400 two years ago to $1,500 today) and Lowry Field ($1,300 to $1,450 over the same span).
In contrast, the average one-bedroom rent in Cherry Creek is down by $300, from $1,700 in 2017 to $1,400 at present.
The neighborhoods with average one-bedroom rent from $1,201 to $1,300, other than those previously cited, are Platt Park ($1,210), Speer ($1,225), Hilltop, Overland and Washington Park ($1,250), Cheesman Park ($1,275), Whittier ($1,295), and Country Club, Gateway/Green Valley Ranch and Marston ($1,300).
Those with average one-bedroom rents from $1,301 to $1,400 that we haven’t mentioned thus far are Jefferson Park ($1,340), North Capitol Hill ($1,360), West Colfax ($1,375), City Park West and Wellshire ($1,390) and Chaffee Park, Hampden South and Skyland ($1,400).
The neighborhoods in the $1,401 to $1,500 bracket other than Lowry Field and Stapleton are West Highland and Sloan’s Lake ($1,410), Southmoor Park ($1,420), Berkeley ($1,450), and Baker, City Park and Sunnyside ($1,500).
$1,501 and above
In the spring of 2017, Zumper data designated the Golden Triangle as the most expensive Denver neighborhood for a one-bedroom on average, at $2,090 on average. The company no longer counts the Golden Triangle as a neighborhood, and it’s also dispensed with LoDo, whose average one-bedroom rent was estimated at $1,870.
Today, those costs would land in third and fourth place, respectively. The most expensive neighborhood for a one-bedroom today is Union Station, at (gulp!) $2,400, followed by the Central Business District, at $2,250.
Also crashing the party is the Cole neighborhood, an area that’s undergone significant gentrification over the past two years — and, man, does the rent price show it. In the spring of 2017, the average one-bedroom in Cole went for $1,095. Today, it’s $1,600, just shy of 50 percent higher.
The other neighborhoods on this roster, excluding the ones previously mentioned, are Washington Park, with an average one-bedroom rent of $1,550, plus Highland ($1,600), Five Points ($1,680), Civic Center ($1,690), Belcaro ($1,700) and Auraria ($1,800).
According to Zumper, Denver rent is up more than 9 percent during the past year. The city registers as the sixteenth-most-expensive for rent in the U.S., with an overall average one-bedroom rent cost of $1,530 and a two-bedroom average of $1,950 as of March.
Article was written by Michael Roberts