Which suburbs have had rent rise more than in Denver? All of them.
. As Warnock pointed out, rent in Denver that January was down 5.5 percent from a year earlier, even as it had increased by 2.7 percent in Thornton and 3.7 percent in Parker.
In Warnock's view,"The adoption of remote work has definitely chipped away at the physical bonds that once tied together the housing and labor markets. Pre-pandemic, access to good jobs was largely predicated on being physically close to those jobs. That is no longer the case." Many businesses that had gone remote have returned to an in-person approach. However, median rent costs in all seventeen metro Denver suburbs tracked by Apartment List have continued to grow faster than in the city itself. Since March 2020, the increase in Denver has been 16 percent. Glendale came in at 17.1 percent, and the other fifteen suburbs in the survey all jumped up by more than 20 percent, with Castle Rock at 29.9 percent, Westminster at 28.3 percent and Aurora at 26.6 percent.
The differences definitely add up. Denver's median rent has climbed by $223 from March 2020, when it was was $1,393, to September 2022, which topped out at $1,606 — but in Castle Rock, the price spiked by $505, soaring from $1,707 in March 2020 to $2,217 last month.
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