The median rental price of three-bedroom apartments in Southwestern Denver listed during the week of September 16-22 was $2,548.
There were 16 properties listed in the neighborhood during the week. S. Balsam Way had the most units listed, according to RentHub.com.
This made for a 300 percent increase over the total number of listings during the previous week. The median price decreased by 24 percent compared to the week of September 9-15.
The median monthly rent price in the US has been steadily increasing over the last decade. In 2010, the median US rent was $927 according to the Census American Community Survey. As of 2018, that figure had reached $1,023 per month. The ACS releases updated numbers each September regarding the previous year.
In fact, according to a study completed by the Harvard Joint Center for Housing Studies, 75.8 percent of renters are cost-burdened or severely cost-burdened by the price of rent in the Denver-Aurora-Lakewood area.
