According to a report by online renting resource apartmentlist.com, rent prices in Denver continued to rise throughout March for the third month in a row. Currently, rent prices are down 4.6% across the Mile High City when compared to March 2020, but increased by 1.3% in March 2021.

Denver's increase throughout March was the second largest growth throughout the metro area and is behind only Broomfield, where rent prices jumped 1.8%, according to the report.

In Denver, for instance, the median price for a one-bedroom apartment is $1,280, which is significantly lower than a similar unit in Broomfield that costs $1,630 per month, according to the report. 

Currently only Arvada, Englewood and Aurora have lower median rent prices than Denver.

Throughout the pandemic, seven of the Denver’s ten largest suburbs have seen an increase in rent prices. Other areas such as Colorado Springs have also seen a hike as rent prices have grown 6.8% since last year.

As rent prices continued to increase throughout Colorado, that same trend was apparent nationwide as the Apartmentlist.com's national index soared 1.1% -- the biggest increase since 2017.

Nine of the 10 largest cities in the United States that had the biggest decline in rent prices throughout the pandemic saw positive growth throughout March, according to the report.

If you’re tired of playing the renting game and want to become a homeowner in 2021, now might be the right time. The first thing you want to do is get an experienced real estate pro on your side. Give Metrowest a shout today – we’d love to help explore your options!