Colorado Springs has the fastest-growing rental rates in Colorado, according to the Apartment List.
The online apartment listing and industry research company found that the Springs’ rental rates have increased by 11.4 percent from this time last year. Rates increased by .4 percent from April to May.
However, the Springs still is among the least expensive cities to rent, according to the organization. Rents in Colorado Springs average $1,010 for a two-bedroom apartment, much lower than Boulder’s average rent of $1,850 for a two-bedroom apartment. Rents in Boulder — the most expensive city to rent in Colorado — increased 5.4 percent from this time last year.
Denver comes in second as the most expensive place for apartments: A two-bedroom apartment in Denver averages $1.770. However, Denver was ninth for growth in rents, with rates increasing a mere 2.6 percent from last year.
Apartment List rent report data is drawn monthly from the site’s listings. Rents are calculated as the median for the specified size and time period. Price changes are calculated using a “same unit” methodology similar to the Case-Shiller “repeat sales” home prices methodology, taking the average price change for units available across both time periods.
For more information, click here.