How much do households in the Denver, CO area spend on rent?
Data updated September 16, 2024
About 31.9% in 2018–2022 for a typical household. This is measured by comparing median gross rent, which includes rent and utilities, and median monthly income for renting households. A median is a measure of a typical value in a set of numbers.
Showing data for
In 2018–2022, median rent was
31.9%
of median income
In 2018–2022,
$1.71K
was the median rent per month
Comparing rent to renter income provides one measure of rental affordability. Denver, CO area median rent was approximately $1.71K per month from 2018 to 2022. Typical monthly income among renting households was approximately $5.34K during the same period.
A typical household spent about $1.71K on rent in the Denver, CO area.
Median rent and median renter household income, 2018–2022
Dividing rent by income provides what is called a rent-to-income ratio. A higher ratio of rent-to-income indicates rent is less affordable while a lower ratio indicates greater affordability.
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The Department of Housing and Urban Development considers households with a rent-to-income ratio of more than 30%, that is, households that spend more than 30% of their income on housing, to be cost-burdened. Cost-burdened households may have less money for other necessities such as food, healthcare, or savings. When median monthly rent is more than 30% of average monthly income, it means a typical household would meet the definition of housing cost-burdened.
Denver, CO area's rent-to-income ratio ranked 5 out of 7 Colorado metros.
Ratio of median rent to median renter household income, 2018–2022
Compared to other metro areas in Colorado, the Denver, CO area has the second highest median rent and highest median renter-household income. Out of the seven metros in the state, its rent-to-income ratio ranked second lowest.
Renter income and rent, Colorado metro areas (2018–2022)
| 1. | Boulder, CO area | $4,895 |
| 2. | Colorado Springs, CO area | $4,637 |
| 3. | Denver, CO area | $5,342 |
| 4. | Fort Collins, CO area | $4,685 |
| 5. | Grand Junction, CO area | $3,668 |
| 6. | Greeley, CO area | $4,239 |
| 7. | Pueblo, CO area | $2,888 |
