27 Oct Metro Denver Rental Market Update: October 2024
Setting the right rental price is essential to maximize returns, and as the Metro Denver market shifts, understanding city-specific trends becomes invaluable. This month’s data from Denver, Highlands Ranch, Castle Rock, Centennial, and Aurora provides a snapshot of the current rental landscape in each area, helping you stay competitive and informed.
Denver – Single-Family Homes
In Denver, the median rent for single-family homes is $2,920, reflecting a $55 decrease from last month and a $72 drop year-over-year. The city currently has 1,019 rentals on the market, with properties averaging 45 days before being rented. Despite the slight decrease in rent, Denver’s urban attractions and strong job market keep demand high among both young professionals and families.
Highlands Ranch – Single-Family Homes
Highlands Ranch continues to see steady rental demand, with the median rent at $3,200—unchanged from last month and a $180 increase from the same period last year. Rentals in this area are listed for an average of 35 days, with 95 properties currently available. Known for its top-tier schools and family-friendly environment, Highlands Ranch remains one of the more desirable suburban options in Metro Denver.
Castle Rock – Single-Family Homes
Castle Rock’s rental prices are also stable, with a median rent of $3,195, a minimal $5 decrease from September and a $64 increase compared to last year. Properties in Castle Rock average 41 days on the market, and 89 rentals are currently available. Castle Rock’s appeal lies in its charming downtown, scenic parks, and convenient access to both Denver and Colorado Springs, making it a favorite for families and commuters.
Centennial – Single-Family Homes
In Centennial, the median rent stands at $3,000, consistent with last month but reflecting a $190 decrease year-over-year. Rentals here typically stay on the market for about 30 days, with 65 properties available. Centennial is well-regarded for its excellent school system, quiet neighborhoods, and convenient access to the Denver Tech Center, keeping rental demand stable in this suburban area.
Aurora – Single-Family Homes
Aurora’s rental market shows a slight decline, with the median rent at $2,795—down $88 from last month and $5 from last year. Homes in Aurora average 41 days on the market, with 390 currently available for rent. As a large and diverse suburb, Aurora attracts renters with its affordability, cultural amenities, and close proximity to Denver International Airport.
Discover Your Property’s Rental Potential
For a detailed analysis of your property’s rental potential, complete our form [click here] with your home’s details and address. Unlimited Real Estate’s experts will review your information to provide an estimate tailored to the current market conditions and comparable properties across Metro Denver.
Data sourced from Zillow Rental Market Trends as of October 25, 2024.