According to Real Estate Witch metro Denver experienced the highest apartment rent inflation versus income gains of any major metro area in the country between 2009 and 2021. Nationally, median rents increased by 42% from 2009 to 2021 from $817 in 2009 to $1,163 in 2021. Denver’s rent increased by 82%, increasing from $856 a month in 2009 to $1,554 in 2021. Only San Jose saw a bigger rent increase of 85%. However, income increased more rapidly in San Jose than Denver.
In Denver median incomes only rose 48%, far short of our 82% gain in rents. This means our rent gains were 71% higher than our income gains. The second highest gap between rent and incomes was Las Vegas at 57%, far below our gap.
