Breaking the Bank: The 5 Most Expensive Places for Renters in Colorado
It seems the price of homes in Colorado is steadily increasing and renters are trying their hardest to stretch their dollars.
According to new data compiled by LawnLove, 5 metro areas in Colorado made the national listing of 2022’s Most Expensive Metro Areas to Rent.
Big Cities Can Mean Big Rental Prices in Colorado
Colorado's population is divided into those who love staying close to the action in big cities and those who love getting away from it all and appreciate quiet small towns.
In order to rent an apartment or house in Colorado's biggest metros, you're going to need some deep pockets or some awesome roommates.
Key Factors For Determining Colorado's Most Expensive Metros for Renters
LawnLove used three metrics to determine which of Colorado's metros were the most expensive for renters:
- Rent Prices,
- Rent Affordability,
- and Cost Inflators
The categories listed above were then assigned weighted scores and Colorado's biggest metros were analyzed.
The 5 Most Expensive Places for Renters in Colorado
Many cities across the U.S. are seeing a rental price increase of over 30%, and there's no sign of housing prices lowering any time soon. The metros listed below are all in the front range and home to some of Colorado's biggest tourist attractions, so perhaps that's why rentals are so expensive.
- Boulder, CO
- Denver-Aurora-Lakewood, CO
- Fort Collins, CO
- Colorado Springs, CO
- Greeley, CO
When it came to the highest share of cost-burdened renters, the city of Boulder actually tied for 5th place with Port St. Lucie, Florida. I guess living on the beach isn't that much different price-wise than living in the mountains.