Cities / Colorado / Denver County / Denver
Denver cityscape
City housing brief · Incorporated place

Denver, CO

City evidence stays city-level. County, metro and national records appear separately to explain the wider market without changing the city figures.

City gross yield4.2%ZORI × 12 ÷ ZHVI · before costs
Direct city rent answer

What does rent cost in Denver, CO?

The latest city-level Zillow ZORI for Denver is $1,877 per month in 2026-06. It measures a typical asking-rent market across rental types—not an arithmetic average or an address-level rent estimate.

City Zillow ZORI$1,8772026-06 · down 1.5% year over year
City ACS gross rent$1,831ACS 2024 5-year occupied-renter survey
HUD two-bedroom context$2,089Denver County administrative standard
How to read the rent answer for Denver
MeasureCurrent valueGeographyMeasurement boundary
Zillow ZORI$1,877Denver cityTypical observed asking-rent index; not a unit quote.
Census ACS gross rent$1,831Denver citySurvey estimate for occupied renter homes, including specified utilities.
HUD 2BR FMR$2,089Denver CountyAdministrative bedroom standard; wider context, never substituted as city rent.

For a property decision, match bedroom count, condition, utilities, concessions, lease timing and nearby comparable listings. Wider county and metro evidence below stays explicitly labelled.Zillow pulled 2026-07-29

For within-city variation, inspect the published ZIP rental landscape rather than treating one citywide value as uniform.

City market snapshot

Four figures that frame the city

Typical home value
$539k
▼ 3.4% year over year
Zillow ZHVI · 2026-06
Observed market rent
$1,877
▼ 1.5% year over year
Zillow ZORI · 2026-06
Entry affordability
5.7x
home value ÷ household income
Zillow + Census ACS
Population
718,877
▲ 1.9% between ACS vintages
ACS 2024 5-year
Decision brief

What the city-level evidence says

01Decision frame

Denver’s current Zillow ZHVI is $538,992, while Zillow ZORI is $1,877 per month. Together they imply a 4.18% gross yield before every operating cost. The home value is 5.69x ACS median household income, and annual ZORI rent is 23.78% of that income. Those citywide ratios frame entry cost and affordability, but they are not a property cash-flow estimate or a household-specific budget.

02Housing stock

Citywide ACS reports 359,581 housing units; 51.24% of occupied units are renter-occupied, and 6.72% of all units are vacant. Its $616,000 median home value covers surveyed owner-occupied housing, while its $1,831 median gross rent covers surveyed occupied rental housing and includes selected utilities. Those ACS measures differ in definition and period from Zillow’s typical home value and observed market rent, so they should not be averaged or treated as confirmation of one another.

03City depth

Direct city depth is mixed. The citywide ACS rent-burden share is 47.59%. Single-family homes make up 49.29% of units, and large multifamily units account for 32.30%; among vacant units, 41.74% are classified for rent. Denver’s population is 718,877, up 1.89% between overlapping ACS five-year vintages; that is not an annual rate, and boundary changes may affect the comparison. Median household income is $94,718, with poverty at 11.24% and unemployment at 4.88%. These facts describe citywide demand constraints and stock composition, but do not prove lease speed, causation or available investment inventory.

04Wider context

In Denver County, Realtor context shows 3,346 active listings and a 30.04% price-reduced share; these describe county marketing conditions, not Denver city inventory. In the broader Denver metro, BLS jobs fell 0.11% and Redfin months of supply was 2.9, indicating softer employment and listing context at metro scope only. Nationally, the Freddie Mac rate for a thirty-year mortgage was 6.58%, a financing benchmark rather than a city borrowing quote.

05Limits & next checks

The central limitation is that aggregate values omit the property’s achievable rent, condition, expenses, financing and legal constraints. Before underwriting, verify unit-level rent comparables and concessions; the actual tax bill, insurance and climate exposure; utilities, association charges, management, repairs, capital needs and vacancy assumptions; and loan terms. Inspect the building, title, permits and lease terms, and test cash flow under lower rent and higher costs. City vacancy, tenure and survey shares should inform questions, not substitute for property diligence.

Local rent intelligence

Denver Rent Intelligence: Market Trajectory, Multi-Source Indicators, and Regional Cost Dynamics

Budget context

What the rent asks of an annual income

Median household income$94,718
Income at the rent budget$75,077
$1,877 monthly rent × 12 ÷ 30% = $75,077 annual income. A gross-income budgeting screen, not a lender or landlord qualification rule. Zillow ZORI: 2026-06; Census: ACS 2024 5-year.
Chart data and calculation
Annual income references, not equivalent household samples
MeasureAnnual amountBasis
Median household income$94,718ACS 2024 5-year
Income at the rent budget$75,077City ZORI × 12 ÷ 0.30

Put the benchmark to work

Match the rent period and housing type to your actual options. Check utilities, recurring fees and lease terms before treating the difference as savings.

Explore the metro rent budget tool →See the salary-to-rent research →Compare published city alternatives ↓

Market Trajectory and Multi-Index Rental Divergence

In June 2026, the typical observed asking market rent in Denver, measured by the Zillow Observed Rent Index (ZORI), was $1,876.92 per month. This marked a 1.50% year-over-year decline from $1,905.45 in June 2025. Denver's asking-rent trajectory has shifted after multiple years of expansion following 2021. Annual June observations reveal that typical asking rents rose from $1,699.79 in June 2021 to $1,893.08 in June 2022, $1,927.44 in June 2023, and peaked at $1,949.12 in June 2024, before recording consecutive annual declines in 2025 and 2026.

Alternative rental benchmarks show notable divergence due to differing methodologies and observation universes. The Apartment List recent-lease rent index registered at $1,613.00 for the city of Denver in July 2026, which is $263.92 lower than the June 2026 ZORI asking figure. Meanwhile, the Census ACS 2024 5-year estimate placed median gross rent—which incorporates contract rent plus selected tenant-paid utilities for renter-occupied housing units—at $1,831.00 per month.

The resulting gap between current asking market rent ($1,876.92) and the ACS survey median gross rent ($1,831.00) is $45.92, or 2.51%. These three metrics do not contradict one another; rather, ZORI measures typical market asking rents, Apartment List evaluates recent lease activity, and ACS captures tenant-reported rents across renter-occupied units. Decision-makers should not blend these series or assume they track identical units.

Affordability Thresholds, Household Economics, and Inventory Dynamics

Evaluating asking rents against Denver's household income profile highlights distinct affordability realities. Under a standard 30% budgeting scenario assumption, an annual household income of $75,076.61 corresponds to the June 2026 typical asking rent of $1,876.92. According to the ACS 2024 5-year estimates, Denver's median household income is $94,718.00, meaning a median-earning household allocating exactly 30% of its income results in a monthly rent of $2,367.95, yielding an asking-rent-to-income ratio of 23.78%.

This theoretical top-down screen diverges sharply from the realized conditions of Denver's existing tenant base. Renter households comprise 51.24% of the city's 335,428 occupied housing units (171,873 renter-occupied households). Among all renter households surveyed in the ACS 2024 5-year data, 47.59% experienced rent burden, paying 30% or more of their gross household income toward rent.

Market liquidity and physical stock metrics provide additional context for this dynamic. Census ACS 2024 5-year data reported a total housing vacancy rate of 6.72% (24,153 vacant units out of 359,581 total units), with 10,081 units classified as vacant for rent, representing 41.74% of all vacant units. In contrast, Apartment List recorded an active rental vacancy index of 8.70% for Denver in July 2026, accompanied by a time-on-market index of 33.7 days. Housing units in buildings with 20 or more units make up 32.30% of the city's housing units, while single-family detached and attached homes account for 49.29%.

Regional Rent Tradeoffs Across the Denver Metropolitan Area

Renters and housing providers navigating Denver face meaningfully different pricing, income profiles, and burden rates across municipalities within the same metropolitan area. In Lakewood, the June 2026 typical asking rent was $1,813.72, down 2.49% year over year, with an ACS median household income of $89,792.00 and an ACS renter burden rate of 55.17%. Renters in Lakewood see an asking rent $63.20 lower than Denver's, but contend with a burden rate 7.58 percentage points higher.

In Aurora, the typical asking rent in June 2026 stood at $1,758.99, reflecting a 2.06% annual contraction. While asking rent in Aurora is $117.93 below Denver's, Aurora's ACS median household income is $88,368.00, and 60.31% of its renter households are rent burdened, representing a 12.72 percentage point increase in burden share compared to Denver.

Conversely, Castle Rock commands a June 2026 typical asking rent of $2,493.42, which grew 0.98% year over year. Although Castle Rock's ACS median household income is substantially higher at $145,197.00, its ACS renter burden rate reached 62.48%. These data-screened peer comparisons reflect municipal-level rent and affordability balances rather than identical property finishes, amenities, or commute convenience.

County Asset Performance and Metropolitan Supply Pressures

In Denver County, which is coextensive with the city, residential property fundamentals provide a baseline for housing asset performance. Zillow data recorded a typical home value of $546,309.00 in Denver County in June 2026, alongside a typical county asking rent of $1,889.00, yielding a gross rental yield of 4.15%. FHFA House Price Index data showed county home prices decreased 0.43% year over year in 2025, following a 5-year cumulative appreciation rate of 29.70%.

Realtor.com reported 3,346 active listings in Denver County in June 2026, with a median days on market of 51.0 days and 30.04% of active listings having experienced a price reduction. IRS migration data for the 2022–2023 tax year documented positive net migration of 2,141 individuals into Denver County, while HMDA purchase data for 2024 recorded an investor share of 8.46% of purchase originations. Property taxes had an effective rate of 0.45% in the ACS 2024 5-year survey, and HUD established the FY2026 Fair Market Rent for a two-bedroom unit in Denver County at $2,089.00, which functions as an administrative benchmark rather than an asking rent or automatic voucher payment standard.

Wider metropolitan metrics demonstrate ongoing supply pipeline additions. In the Denver, CO metropolitan area, residential building permits totaled 17,012 units year-to-date through June 2026, or 5.67 permits per 1,000 residents. Metro-wide employment contracted slightly, with total payroll jobs decreasing 0.11% in the 12 months ending June 2026. Redfin data for the metro area through May 1, 2026, indicated 2.9 months of inventory supply, a median days on market of 21 days, a sale-to-list price ratio of 99.29%, and price drops occurring on 41.78% of listings. Nationally, Freddie Mac reported the 30-year fixed mortgage rate at 6.69% for the week of August 6, 2026. Readers must check overarching capital availability separately, as these macro metrics do not measure capital access or guarantee individual property-level returns.

Same-metro rent alternatives

Published places with the same city-rent period, selected by closeness of their rent index. This does not establish equal commute times, amenities or property quality.

Direct city observations, not neighborhood or bedroom estimates
CityTypical monthly rentACS renter burdenPeriods
Lakewood, CO$1,81455.2%2026-06; ACS 2024 5-year
Aurora, CO$1,75960.3%2026-06; ACS 2024 5-year
Castle Rock, CO$2,49362.5%2026-06; ACS 2024 5-year

Local rent questions

Why does the Apartment List rent index differ from the Zillow ZORI figure for Denver?

The Apartment List rent figure ($1,613.00 for July 2026) and the Zillow ZORI figure ($1,876.92 for June 2026) evaluate distinct segments of the rental landscape. ZORI is a typical asking-rent index based on advertised market rents. Apartment List provides a separate recent-lease rent estimate with its own measurement universe. Neither is an arithmetic mean or address-level appraisal, and the two series reflect separate measurement universes and observation periods without establishing the cause of the $263.92 divergence.

How does asking-rent affordability compare to the observed rental burden in Denver?

A hypothetical household earning Denver's ACS 2024 5-year median income of $94,718.00 would allocate 23.78% of its gross earnings to afford the June 2026 typical ZORI rent of $1,876.92, well within standard budgeting screens requiring $75,076.61. However, this theoretical metric does not mirror the real distribution of tenant incomes across the city, where 47.59% of renter households actually allocate 30% or more of their monthly income toward gross rent.

What do vacancy and pipeline figures indicate for Denver property performance?

For renters and asset managers, Denver displays several vacancy and supply pipeline metrics. Apartment List reported a rental vacancy index of 8.70% in July 2026 with a time-on-market index of 33.7 days, while the Denver, CO metropolitan area recorded 17,012 permitted units through June 2026 (5.67 per 1,000 residents). With Denver County listing price reductions at 30.04% in June 2026 and city asking rents falling 1.50% year over year, operators face localized competition, though aggregate statistics cannot replace parcel-level underwriting.

Sources and release periods for this analysis
Housing system

Market movement and the stock underneath it

Five-year path

Price and rent, rebased to 100

ZHVI +1.0%ZORI +10.4%
11610595202120222023202420252026
Each series starts at 100 so their direction can be compared without pretending that a home value and a monthly rent share the same unit.
Housing stock

Tenure and vacancy

ACS
51.2%RENTER
Owner occupied48.8%
Renter occupied51.2%
Vacant units6.7%

Median structure year 1975

Tenure uses occupied units; vacancy uses all housing units.
Measurement matrix

Two sources, two different questions

SourceHome valueMonthly rent
Zillow market index$539K$1.9K
ACS occupied housing$616K$1.8K
Zillow measures current market indexes. ACS reports surveyed owner value and gross rent for occupied housing. The rows are context, not interchangeable estimates.
Direct local rental evidence

Recent leases and rental-market liquidity in Denver, CO

These Apartment List observations match the exact city Census code 0820000. They are kept separate from Zillow asking rent, Census occupied-home rent and wider metro measures.

Direct recent-lease rent history

Monthly overall-rent index; missing observations are not filled from another geography.

$1,835$1,703$1,5702021-082026-07
Recent-lease rent$1,6132026-07 · -4.5% year over year
Rental vacancy8.7%2026-07 · -0.1 percentage points year over year
Time on market34 days2026-07 · +1.7 days year over year
Direct city depth

Households and housing form behind the medians

Median household income$95k

Annual ACS household measure.

Rent-to-income screen23.8%

Annual ZORI divided by ACS median income.

ACS rent burden47.6%

Renters paying at least 30% of household income toward gross rent.

Average household size2.10

People per occupied housing unit.

Single-family stock49.3%

Detached and attached one-unit structures.

Large multifamily stock32.3%

Housing in structures with 20 or more units.

Vacant and for rent41.7%

Share of vacant units listed by ACS as for rent, not a market vacancy rate.

Unemployment4.9%

Share of the civilian labor force.

Poverty11.2%

ACS population for whom poverty status is determined.

These are citywide context measures. They cannot tell you the rent, vacancy, expenses or tenant demand for a particular neighborhood or property.
ZIP rental landscape

How asking rent and renter pressure vary inside Denver

This view uses 12 direct Zillow ZIP markets matched to Census ZCTAs. It is a selected evidence set, not a neighborhood ranking or an exhaustive city inventory.

Selected ZIP range$1,450–$2,314Zillow asking-rent index
Monthly spread$864highest minus lowest selected ZIP
Observed burden range33.0%–56.8%ACS renter households paying 30%+
Renter households covered114,068across the selected ZCTAs
01 · ASKING RENT LADDERDirect ZIP ZORI
Horizontal bars compare Zillow asking-rent indexes across the selected direct-evidence ZIP set.80219$2,31480211$2,21980210$2,12480209$2,06680202$2,05180204$1,99080205$1,97480206$1,83580247$1,77880203$1,53880218$1,50780231$1,450
02 · PRESSURE MATRIXRent × observed burden
Each point is one selected ZIP and ZCTA match. Horizontal position is Zillow asking rent and vertical position is the ACS renter cost-burden share.59.3%52.1%44.9%37.7%30.5%802038020580204802118023180202802478021980218802098021080206Zillow asking-rent index →ACS burden share →
03 · BENCHMARK GAPZORI vs HUD 2BR
Bars show the percentage difference between the Zillow blended asking-rent index and the local HUD two-bedroom standard. Their housing universes differ.80219+110.8%80211+106.2%80210+101.7%80209+98.9%80202+98.2%80204+95.3%80205+94.5%80206+87.8%80247+85.1%80203+73.6%80218+72.1%80231+69.4%
WHAT THE LOCAL DISTRIBUTION SAYS

Denver’s selected direct-evidence ZIP set frames a search-range question rather than a citywide inventory: it contains 12 of 27 eligible ZIP/ZCTA matches, ordered by renter households and covering 114,068 renter households. In Zillow’s June 2026 ZORI—a typical observed asking-rent index—the local values run from $1,450 to $2,314, with a $1,982 median and an $864 spread. That dispersion makes the practical question less about a single Denver rent and more about whether a prospective unit’s asking rent, bedroom count, and lease terms are competitive within its ZIP. The selection is useful for comparison but is not an exhaustive inventory of city ZIP areas.

Do not treat the three rent series as substitutes. Zillow places the high and low ends at roughly 111% and 69%, respectively, of the common $2,089 HUD FY 2026 bedroom-specific standard. That is an administrative benchmark, not a typical asking rent, and it cannot establish that units at either end are comparable. ACS instead reports 2024 ZCTA median gross rent. The low-end Zillow ZIP has an ACS median gross rent of $1,764, while the high-end Zillow ZIP’s ACS figure is $1,539. Different timing and rent definitions make this a contrast in measures, not an inconsistency to average away.

Affordability signals do not line up mechanically with either rent series. Across the selected ZCTAs, the ACS share of renter households spending 30% or more of income on gross rent ranges from 33.0% to 56.8%, while survey vacancy ranges from 3.3% to 16.6%. ZIP 80247 pairs a $1,778 Zillow index with the highest burden share and a 6.9% vacancy rate; a lower asking index therefore does not by itself imply low household strain. At the other end, 80211 has the lowest burden share despite a $2,219 index and 5.7% vacancy. Denver’s citywide ACS figures—47.6% burdened and 6.7% vacant—are context, not evidence that any particular property has availability, concessions, or a tenant’s affordability.

These figures set comparison boundaries, not a quote for a particular home. Zillow is an index of observed asking rents; ACS ZCTA estimates are survey statistics for statistical areas that do not exactly match USPS delivery ZIPs; and HUD is an administrative bedroom-specific standard. Before deciding, check the unit’s exact address and bedroom count, the advertised versus effective rent, required fees and utilities, lease length, availability date, income qualification, and whether any voucher or program rules apply. Verify the current listing directly and calculate the applicant’s own income-to-total-housing-cost ratio rather than applying an area median or benchmark mechanically.

Selected ZIP evidence

Keep each source universe visible

27 ZIP profiles passed the city gate; the 12 with the most renter households are shown.

ZIP / ZCTAZillow asking rentACS gross rentHUD 2BRBurden 30%+VacancyIncome screen
80203$1,538$1,641$2,08943.4%7.1%$62k
80205$1,974$1,905$2,08941.4%8.6%$79k
80204$1,990$1,811$2,08947.0%9.1%$80k
80211$2,219$1,970$2,08933.0%5.7%$89k
80231$1,450$1,764$2,08954.2%10.3%$58k
80202$2,051$2,309$2,08940.4%16.6%$82k
80247$1,778$1,828$2,08956.8%6.9%$71k
80219$2,314$1,539$2,08947.3%3.3%$93k
80218$1,507$1,534$2,08938.7%6.0%$60k
80209$2,066$2,031$2,08935.6%6.8%$83k
80210$2,124$1,996$2,08945.9%6.1%$85k
80206$1,835$1,764$2,08940.4%8.2%$73k
READ BEFORE USING

ACS figures are five-year estimates for ZCTAs, which are statistical areas rather than identical USPS delivery ZIPs. The selected direct-evidence set covers eligible ZIP/ZCTA matches ordered by renter households, not every city area or every available property.

Zillow’s June 2026 index, ACS’s 2024 five-year estimates, and HUD’s FY 2026 standard have different periods, methods, and purposes. They should not be averaged or used as a quoted rent, a guarantee of availability, or a determination of tenant eligibility.

SOURCE LEDGERCensus ACS five-year — ZCTA housing and incomeACS 2024 5-year ZCTA · pulled 2026-08-08HUD USPS crosswalk and Small Area FMRs — ZIP rent fallbackZIP-CBSA 2025Q4 + SAFMR FY2026 · pulled 2026-07-26Zillow ZORI — ZIP market rentsZORI ZIP 2026-06 · pulled 2026-08-08
Curated city comparisons

Denver in direct city-to-city decisions

Each comparison keeps both records inside city limits and opens only when the pair differs materially on multiple decision signals.

Browse all city comparisons →
Closest market alternatives

Three useful contrasts, not a synthetic winner

The peer set broadens the decision without mixing geographies. Price, rent and housing characteristics remain city-level for every place.

Comparable market profile

Entry price, rent and gross yield

Denver, COAurora, COColorado Springs, COPortland, OR
Typical home valueZillow ZHVIDenver$539KAurora$462.4KColorado Springs$450.3KPortland$540.3KObserved market rentZillow ZORI / monthDenver$1.9KAurora$1.8KColorado Springs$1.7KPortland$1.7KGross yieldZORI × 12 ÷ ZHVIDenver4.2%Aurora4.6%Colorado Springs4.6%Portland3.8%
Bars begin at zero within each measure. Gross yield is a screening ratio before financing, taxes, insurance, vacancy, maintenance or management costs.
Same metro01

Aurora, CO

Compared with Denver, typical home value is $77k lower, monthly rent is $118 lower, and gross yield is 0.4 percentage points higher.

Rent burden 30%+
60.3%
Renter share
37.6%
One-unit stock
64.4%
20+ unit stock
12.9%
Same state02

Colorado Springs, CO

Compared with Denver, typical home value is $89k lower, monthly rent is $138 lower, and gross yield is 0.5 percentage points higher.

Rent burden 30%+
54.3%
Renter share
39.1%
One-unit stock
68.7%
20+ unit stock
11.6%
Closest data profile03

Portland, OR

Compared with Denver, typical home value is $1k higher, monthly rent is $156 lower, and gross yield is 0.4 percentage points lower.

Rent burden 30%+
52.5%
Renter share
48.0%
One-unit stock
57.4%
20+ unit stock
23.5%

These are analytical alternatives, not recommendations. The structural measures come from Census ACS; price and rent use the Zillow releases shown on each card and in the source ledger below.

Wider market context

What surrounds the city without being mistaken for it

The layers below answer different questions. County records describe listing, migration, financing and hazard conditions around the city; metro records describe jobs, supply and permits; the mortgage rate is national.

Same measure, wider boundary

City marker against intersecting counties

CityCounty range
Typical home value$546.3K$546.3K$539KObserved market rent$1.9K$1.9K$1.9K
Both levels use Zillow indexes, but the county records cover land and housing outside the city. The comparison supplies context; it does not replace the city value.
Same Zillow index families

City limits versus the linked metro

DenverMetro
Observed market rentMetro $1.9KCity $1.9K · -2.8%Typical home valueMetro $572.7KCity $539K · -5.9%Gross yieldMetro 4.0%City 4.2% · +3.4%
Zillow ZORI and ZHVI use the same release month at both boundaries. Gross yield is rent × 12 ÷ home value; the metro contains the city and is context, not a substitute.

Search all direct city–metro gaps in the interactive atlas.

COUNTY LAYER

The intersecting county

This boundary extends beyond the city and is shown only as context.

2026-06
Active listings
3,346
Listing DOM
51 days
FHFA one-year
▼ 0.4%
Net migration
2,141
Investor share
8.5%
Effective property tax
0.45%
Top hazard
inland flooding
Expected loss ratio
0.16%
METRO LAYER

Denver, CO

Open metro analysis →
Job growth▼ 0.1%12m to 2026-06
Permitted units17,0122026 YTD through M06
Permits / 1,0005.7broader metro population
Months of supply2.92026-05-01
Median DOM21 daysRedfin metro tracker
Price drops41.8%Redfin metro tracker
Wider-context figures are not inputs to the city gross yield and are never used to fill a missing city price, rent or ACS measure.
What can break the thesis

Three checks before using the city averages

  1. 01

    Gross yield omits taxes, insurance, maintenance, management, vacancy, capital spending and debt service.

  2. 02

    ACS vacancy and structure shares do not identify units available to buy or guarantee tenant demand.

  3. 03

    County, metro and national indicators have wider denominators and cannot be assigned to the city or a property.

Questions answered

Quick reading guide

Is the Zillow gross yield a net return?

No. It is annual Zillow market rent divided by Zillow home value before every operating and financing cost.

Can ACS median gross rent be combined with Zillow home value?

No. They cover different concepts and periods; ACS gross rent also includes selected utilities.

What should be checked next?

Verify property rent comparables, concessions, taxes, insurance, operating costs, capital needs, condition, title, permits, lease terms and financing.

Sources and geography

What belongs to this city page

Census recognizes this as Denver city. The place intersects Denver County.