BOULDER — With a median price of $2,030 per month for a two-bedroom apartment in August, Boulder has the most expensive rental rates in Colorado, according to San Francisco-based Apartment List that tracks rates nationwide.
Based on median rents for two-bedroom apartments, Boulder and Broomfield were the two most expensive cities in the state, according to the August Colorado Rental Price Monitor.
Colorado rents are growing much faster than the national average. While national rents declined 0.3 percent, rents in Colorado grew 0.3 percent in August, and 5.3 percent in the past year, more than twice the national average of 2.3 percent, the report said.
Colorado was slightly below national averages for one-bedroom units, but slightly above averages for two-bedroom units, with median prices of $1,000 and $1,300, respectively.
The group tracked prices in the 23 largest cities in Colorado.
Boulder had the highest rents statewide, with a two-bedroom median rent of $2,030. Boulder was also the most expensive city for one-bedroom rents at $1,420.
Broomfield checked in as the second most expensive city, with a one-bedroom rate of $1,330 and $1,800 for a two-bedroom unit. Broomfield also had the 10th largest increase in rents over last year with a 5.5 percent growth — just higher than statewide averages.
By comparison, Denver ranked No. 6 on Colorado’s most expensive cities, with an average two-bedroom price of $1,550.
Westminster, at $1,420 for a two-bedroom, was No. 8 on the list but showed the strongest year-to-year growth in the state at 13.7 percent.
Longmont ranked No. 17, below the statewide average for rent prices at $1,000 for a two-bedroom, but it had the second strongest year-to-year rent growth at 12 percent based on two-bedroom units.
Fort Collins topped the cities in Northern Colorado with a median rental rate of $1,500 for a two-bedroom, followed by Loveland, $900, and Greeley, $850.