Colorado Residential Rent and Rental Statistics

The median monthly gross residential rent in Colorado was $1,240 in 2017 according to the Census ACS survey.1 Average gross rent was $1,248 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Colorado median and average rent data will be released in September of 2019.

Data is also available below for Colorado rental vacancy rates, Colorado rent as a percent of median income and the fraction of renters in Colorado.

Show dollars as: Nominal Real

Nominal Gross Rent in Colorado 2017 1 Year Change 3 Year Change US Median Gross Rent $1,012 +3.16% +8.35% Colorado Median Gross Rent $1,240 +5.89% +21.57% Colorado Nominal Gross Rent Trends At $1,240, nominal median gross rent in Colorado was at its highest level in 2017 since the series began in 2005. At $1,248, nominal average gross rent in Colorado was at its highest level in 2017 since the series began in 2005. Nominal Gross Rent in Colorado: Median , Average , US Median Nominal Gross Rent History for Colorado Date US Median Colorado Median Colorado Average 2017 $1,012 $1,240 $1,248 2016 $981 $1,171 $1,178 2015 $959 $1,111 $1,139 2014 $934 $1,020 $1,057 2013 $905 $971 $1,014 2012 $884 $934 $977 2011 $871 $900 $950 2010 $855 $863 $905 2009 $842 $851 $899 2008 $824 $848 $883 2007 $789 $788 $823 2006 $763 $780 $807

Real Gross Rent in Colorado (2017 dollars)2 2017 1 Year Change 3 Year Change US Median Gross Rent $1,012 +1.61% +5.86% Colorado Median Gross Rent $1,240 +4.29% +18.77% Colorado Real Gross Rent Trends At $1,240, real median gross rent in Colorado was at its highest level in 2017 since the series began in 2005. At $1,248, real average gross rent in Colorado was at its highest level in 2017 since the series began in 2005. Real Gross Rent in Colorado: Median , Average , US Median Real Gross Rent History for Colorado Date US Median Colorado Median Colorado Average 2017 $1,012 $1,240 $1,248 2016 $996 $1,189 $1,196 2015 $987 $1,143 $1,172 2014 $956 $1,044 $1,082 2013 $924 $992 $1,036 2012 $912 $964 $1,008 2011 $912 $943 $995 2010 $927 $935 $981 2009 $931 $941 $994 2008 $947 $974 $1,014 2007 $899 $898 $938 2006 $909 $929 $961

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Colorado was 5.18% according to Census ACS data.

Rental Vacancy Rate in Colorado

2017 1 Year Change 3 Year Change US 6.18% +0.29% -0.14% Colorado 5.18% +0.89% +0.33%

Trends in Colorado Rental Vacancy Rate

The rental vacancy rate in Colorado peaked in 2005 at 9.35%. Since then it has fallen by 4.17% to 5.18%. Data records for this series originated in 2005. From a 2016 post peak low of 4.29%, the rental vacancy rate has increased by 0.89%.

Rental Vacancy Rate: Colorado , US

Historical Rental Vacancy Rate data for Colorado

Date US Colorado 2017 6.18% 5.18% 2016 5.89% 4.29% 2015 5.85% 4.47% 2014 6.32% 4.85% 2013 6.49% 5.26% 2012 6.77% 5.69% 2011 7.40% 5.63% 2010 8.17% 6.72% 2009 8.43% 8.00% 2008 7.86% 7.45% 2007 7.87% 8.63% 2006 7.70% 8.36%

Using median household income data for Colorado, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Colorado, median monthly gross rent as a fraction of median household income was 21.53% in 2017 according to the ACS.

Colorado Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change US 20.13% -0.30% -0.76% Colorado 21.53% +0.14% +1.56%

Trends in Colorado Rent as a Fraction of Income

Colorado renters paid 21.53% of median household income towards the median monthly gross rent in 2017. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Colorado , US

Historical Data for Annual Rent as a Fraction of Income in Colorado

Date US Colorado 2017 20.13% 21.53% 2016 20.43% 21.39% 2015 20.63% 20.86% 2014 20.89% 19.97% 2013 20.78% 19.81% 2012 20.65% 19.74% 2011 20.70% 19.50% 2010 20.50% 19.16% 2009 20.12% 18.42% 2008 19.00% 17.85% 2007 18.66% 17.13% 2006 18.90% 17.99%

You can calculate the renter fraction in Colorado in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Colorado as a fraction of total Colorado households. In 2017 34.80% of households were renters according to Census ACS data.

Colorado Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change US 36.13% -0.75% -0.77% Colorado 34.80% -0.44% -1.34%

Trends in the Colorado Renter Fraction

The Colorado household renter fraction peaked in in 2015 at 36.25% and is now 1.45% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Colorado , US

History of Colorado Renter Fraction