18 Feb Colorado Rental Market Update: February Edition
As the winter months slowly come to a close, now is the perfect time to prepare your home for the upcoming spring rental season. At Unlimited Real Estate, we’re committed to keeping you informed about the latest trends and shifts in the Colorado rental market. In this month’s update, we’ll dive into the current state of single-family home rentals in Denver, Highlands Ranch, Castle Rock, Centennial, and Aurora.
Denver
Denver’s single-family home rental market continues to show resilience, with an average rent of $2,940 – a $45 increase from last month and a $15 increase from this time last year. With 798 available rentals on the market and an average of just 49 days on market, it’s clear that demand is high in the Mile High City. If you’re considering renting out your Denver property, now is an excellent time to get ready for the spring influx of renters.
Highlands Ranch
In Highlands Ranch, the average rent for single-family homes has decreased to $3,242 – a $154 drop from last month and a $68 decrease from this time last year. Despite having only 64 available rentals on the market and an average of 30 days on market, Highlands Ranch’s rental market is experiencing a slight correction. Homeowners in this area should be prepared to adjust their pricing strategies to remain competitive.
Castle Rock
Castle Rock’s single-family home rental market remains steady, with an average rent of $3,120 – a minimal $5 increase from last month and a $77 decrease from this time last year. With 61 available rentals on the market and an average of just 34 days on market, Castle Rock continues to attract renters looking for a more suburban lifestyle.
Centennial
Centennial’s luxury rental market is thriving, with an average rent of $3,259 – a $64 increase from last month and a $59 increase from this time last year. Despite having only 41 available rentals on the market (the lowest among our featured cities), Centennial’s strong school districts and family-friendly atmosphere make it an attractive destination for renters willing to pay a premium.
Aurora
Aurora’s single-family home rental market remains stable, with an average rent of $2,799 – essentially unchanged from last month and up only $4 from this time last year. With 303 available rentals on the market and an average of 42 days on market, Aurora offers opportunities for homeowners looking for stable rental income.
As we head into the spring months, it’s crucial for homeowners in Colorado to prepare their properties for potential renters. This includes:
- Performing necessary maintenance tasks
- Upgrading amenities and appliances
- Setting competitive rental prices based on current market trends
- Marketing your property effectively through online listings and local real estate experts
At Unlimited Real Estate, our team is dedicated to helping you navigate Colorado’s dynamic rental landscape. Whether you ‘re looking to rent out your primary residence or need professional guidance on a potential investment property, we ‘ve got you covered. Stay up to date or get your free rental analysis by contacting us today!
Data sourced from Zillow Rental Market Trends as of February 16, 2025.