How Much Rent Can I Charge for my Home in Metro Denver?

29 Jul How Much Rent Can I Charge for my Home in Metro Denver?

Renting out your home in Metro Denver can be a profitable venture, but determining the right rental price is crucial. In this blog, we’ll explore the current rental market for single-family homes in various cities within Metro Denver: Denver, Highlands Ranch, Castle Rock, Parker, Centennial, and Aurora. By understanding the median rents, market trends, and average days on the market, you’ll be better equipped to set a competitive and attractive rental price for your property.

Denver – Single Family Homes

Denver remains a dynamic rental market with a median rent of $3,188 for single-family homes. Despite a slight month-over-month decrease of $10, the year-over-year increase of $188 suggests a steady demand. With an average of 33 days on the market and 875 available rentals, pricing your home competitively can attract tenants quickly.

Highlands Ranch – Single Family Homes

Highlands Ranch shows a slight month-over-month increase in median rent by $45, settling at $3,295. The year-over-year change is minimal at -$5, indicating relative stability. Homes here spend an average of 25 days on the market, with only 113 available rentals, suggesting a high demand in this family-friendly area.

Castle Rock – Single Family Homes

In Castle Rock, the median rent is $3,186, with a small month-over-month increase of $11 and a year-over-year decrease of $66. Homes here tend to stay on the market a bit longer, averaging 38 days, with 118 available rentals. Setting your rental price slightly below the median could help reduce vacancy time.

Parker – Single Family Homes

Parker boasts a strong rental market with a median rent of $3,400, reflecting a healthy $100 increase both month-over-month and year-over-year. With homes averaging just 25 days on the market and 115 available rentals, Parker is a desirable area for renters, allowing for potentially higher rental income.

Centennial – Single Family Homes

Centennial’s rental market shows positive trends with a median rent of $3,213. The market has seen a $63 increase month-over-month and a $113 increase year-over-year. With homes spending an average of 30 days on the market and only 76 available rentals, landlords can expect good competition for their properties.

Aurora – Single Family Homes

Aurora offers a more affordable rental market with a median rent of $2,950. Despite a slight month-over-month decrease of $4, the year-over-year increase of $50 indicates growing demand. With an average of 33 days on the market and 322 available rentals, Aurora remains a popular choice for renters looking for value.

For a detailed rental assessment of your home, simply fill out our form [click here] with your information and address. The expert team at Unlimited Real Estate will review your property and provide an estimated rental income based on local market trends, comparable properties, and other key factors.