The top rental markets in Colorado are Denver, Fort Collins, Colorado Springs, Aurora, Loveland, Arvada, Greeley, Littleton, and Lakewood
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Colorado Rental Trends:
Colorado is one of the fastest growing states – obviously, for its landscapes, activities, and many amenities both available in the big cities and smaller towns. Colorado is a great place for property investors and is a landlord-friendly state. Here are some highlights from the top rental markets in the Centennial State.
Days on Market:
The city with the lowest days on market is Greeley at 11 – under the national average which sits at 15 days; Fort Collins has the highest number of days on market at 17.
The top three towns for the largest amount of leads per listing are around or above the national average sitting at 38. Here they are:
- Greeley – 67 leads per listing
- Colorado Springs – 44 leads per listing
- Loveland – 38 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Colorado Springs comes around that with the lowest average rent of $1,206 for a two-bedroom compared to the highest rent in Colorado at $1,816 in Denver.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,400. Colorado’s highest median sale price comes above that at $445,000 in Arvada with its lowest median sale price at $302,000 in Greeley.
Colorado’s median income rings in at $54,050 – over the national average at $48,500.
Security Deposit Trends:
Security deposits have both risen and fallen in Colorado cities between 2018 and 2019. With the largest being an increase of 25.52% in Colorado Springs at $1,500, and the largest decrease in Denver at -78.79% with the current average at around $350 – under the national average for security deposits which is $1,200.
All of the Colorado cities have a livability score of 62 or higher with the highest being Littleton at 74!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.