While rents are slowing in popular cities including Portland and Austin, prices in Denver continue to climb.
According to the Denver Post, rents are up 3 percent from August 2016 in the city, and 0.3 percent from the previous month.
Nationwide, rent prices rose 3 percent year-over-year in August, but Denver’s median rent on a two-bedroom unit is $1,350, which is around $200 more than the national median price.
Rent prices are expected to continue rising. Job growth is outpacing new construction, which should keep demand high.
“You’d have to build a lot of housing stock for rent prices to decrease, because you have so much job growth and low unemployment,” Apartment List researcher Sydney Bennet said.
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