23 Dec Metro Denver Rental Market Update: December 2024
As the holiday season approaches, setting the optimal rental price for your property is crucial for staying competitive and maximizing returns in Metro Denver’s dynamic rental market. With the latest data from Denver, Highlands Ranch, Castle Rock, Centennial, and Aurora, you can gain valuable insights into current trends and make informed decisions. Here’s a festive, city-by-city breakdown for single-family homes in December 2024.
Denver: Urban Charm with Steady Demand
Denver’s rental market remains robust, reflecting the city’s perennial appeal to professionals, families, and students. The median rent for single-family homes is $2,900, holding steady with no change from last month or year-over-year.
- Average Days on Market: 51
- Available Rentals: 837
While inventory levels remain high, the average time to secure a tenant has been stable, demonstrating ongoing demand in Colorado’s bustling capital. Highlighting proximity to public transit and Denver’s vibrant downtown scene can make your property stand out.
Highlands Ranch: Suburban Appeal with Family-Friendly Festivities
Known for its family-friendly neighborhoods and top-rated schools, Highlands Ranch remains a desirable location. This December, the median rent for single-family homes is $3,000, reflecting a $95 decrease from last month and a $104 drop year-over-year.
- Average Days on Market: 44
- Available Rentals: 88
The slightly lower rental rates offer landlords an opportunity to attract long-term tenants, especially families prioritizing stability and quality education options.
Local Insight: Highlight community holiday events and local decorations to appeal to families looking for festive, family-oriented neighborhoods.
Castle Rock: Small-Town Festivities and Growing Popularity
Castle Rock continues to attract renters with its small-town charm and expanding amenities. The median rent this month is $3,000, representing a $95 decrease month-over-month and a $200 decrease year-over-year.
- Average Days on Market: 41
- Available Rentals: 57
With average days on the market among the shortest in Metro Denver, Castle Rock’s popularity remains high. Highlighting new developments, parks, and shopping centers can appeal to prospective tenants.
Tech Tip: Consider showcasing smart home features and festive decorations to attract tech-savvy and holiday-loving renters.
Centennial: Quick Turnover and Holiday Spirit
Centennial offers a mix of suburban tranquility and urban convenience, making it a popular choice for renters. The median rent for single-family homes is $3,066, showing a $106 increase month-over-month and a $34 decrease year-over-year.
- Average Days on Market: 40
- Available Rentals: 52
Homes in Centennial have one of the shortest average market times, making it a hot spot for landlords seeking quick turnovers. Upgraded kitchens and outdoor spaces can make your property even more attractive.
Festive Flair: Highlight outdoor spaces for holiday decorations and family gatherings to appeal to renters during the festive season.
Aurora: Budget-Friendly and Festive Fun
Aurora remains one of the most affordable rental markets in the region. The median rent is $2,800, with a $38 increase month-over-month and no change year-over-year.
- Average Days on Market: 41
- Available Rentals: 339
Affordable prices and a large inventory make Aurora a prime location for families and young professionals. Homes near parks, schools, and shopping centers tend to perform better in this competitive market.
Get a Custom Holiday Rental Analysis for Your Property
Understanding the local rental landscape is crucial to setting the right price and attracting the best tenants. Unlimited Real Estate’s expert team is here to provide personalized advice tailored to your property and neighborhood trends.
Click here to share your property details, and let us help you maximize your rental potential in Metro Denver this holiday season.
Data sourced from Zillow Rental Market Trends as of December 21, 2024.