Now may be the time for Denver’s apartment residents to ask for a break on rent.
After years of landlords having the upper hand, the Denver metro has become a renter’s market, according to the Apartment Association of Metro Denver, a landlord advocacy group.
The price of rent is dropping, according to the organization’s first quarter rent and vacancy report. Denver County’s median rent is down 5 percent and metro-wide rent is down 3.6 percent compared to this time last year.
Many landlords are offering more amenities and lower fees to keep units full. Tenants are better positioned to negotiate lower rents or move to a more affordable place with more rooms and better appliances.
The Denver metro’s median rent for two-bedroom apartments is $1,659 — lower than any time since 2023, when they were a dollar cheaper.
