Colorado Rental Market For Investment Real Estate-Report 2023

This rental market report examines the average rent in Colorado for five of the most analyzed cities on Rentometer in Q2 2023.

Summary – Year-Over-Year Rent Change

This rental market report highlights the Q2 2023 average rent prices for three-bedroom (3-BR) single-family rentals (SFRs) in these five Colorado cities: Boulder, Colorado Springs, Aurora, Denver, and Arvada.

According to our data, Boulder had the largest year-over-year rent price increase of 23%, while Arvada had the smallest increase of 1%.

Methodology

Geography: This report considers rent changes in Rentometer’s five most analyzed SFR markets in Colorado during Q2 2023.
Property Type: 3-BR SFRs with all bathroom counts.
Analysis: Rent data was analyzed year-over-year for each city.
Data: New rents collected at the beginning and end of each quarter are reported, excluding outliers below $500 and above $10,000.

Year-Over-Year Change in Average Rent: 3-BR SFRs

Rent prices in these five Colorado cities experienced the following year-over-year rent increases in Q2 2023:

The average Boulder rent price is $4,018 with a year-over-year rent price increase of 23%
The average Colorado Springs rent price is $2,299 with a year-over-year rent price increase of 8%
The average Aurora rent price is $2,728 with a year-over-year rent price increase of 7%
The average Denver rent price is $3,110 with a year-over-year rent price increase of 7%
The average Arvada rent price is $2,815 with a year-over-year rent price increase of 1%

City/State	Q2 2022 Average Rent	Q2 2023 Average Rent	YoY % Change
Boulder, CO	$3,262	$4,018	23%
Colorado Springs, CO	$2,125	$2,299	8%
Aurora, CO	$2,548	$2,728	7%
Denver, CO	$2,917	$3,110	7%
Arvada, CO	$2,797	$2,815	1%

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