Rental prices for residential properties in Denver modestly rose in January by 2.1% year over year, which indicated that planning to invest in apartments or homes for rent in Stapleton, CO and other neighborhoods remains a worthwhile venture.
The slight increase also means that prospective tenants will not have to worry too much about high prices. Compared to other cities in the state, Denver apartments remain a more affordable option.
Metro Rental Prices
The price for a two-bedroom apartment in Denver costs more than $1,300, while the same rent in Lone Tree and Parker cost $1,920 and $1,800 respectively. The stark difference in prices will compel more people to choose Denver as their target location, so investors are likely to choose this city as well due to the potential increase in demand.
If you only wish to make the most of rising rents in other neighborhoods in the city, 10 communities have recorded rapid annual growth based on the prices in December 2017. West Highland, for instance, recorded a 19.23% year-over-year increase in rents for a one-bedroom property.
Rapid Price Growth
Cole trailed behind West Highland in terms of rapid price growth for one-bedroom rentals, as prices rose more than 18% to $1,300. In Lowry Field, rents only increased almost 11% yet prices there are more expensive at $1,440.
The rental growth in these communities led Denver to be the 18th most expensive rental market. High yields usually serve as a good enough reason to consider an investment, but you need to find an experienced real estate manager to increase your chances of a profitable return.
It can be difficult to determine whether an investment in Denver’s rental market seems to be a good decision or not. Those who have no background or knowledge of the rental market will have to consult with brokers to find promising assets.