NewsCovering Colorado


Denver rent prices rise weeks before eviction moratorium expires

Posted at 1:36 PM, Jun 14, 2021
and last updated 2021-06-14 15:36:04-04

DENVER – With the eviction moratorium set to expire at the end of June, housing experts are expecting rent prices to rise in certain Denver neighborhoods.

Brian Carberry, the senior managing editor for Apartment Guide, told Denver7 that for the past few months, rent prices have been rising in the Denver metro area.

“Prices are going up when you compare them year-over-year. Last year, there wasn’t an increase. This year it’s looking like it’s a very steep increase. … It’s not as bad when you look at the long-term trends, but when you look at the numbers year-over-year in a city like Denver, it is getting more expensive,” said Carberry.

Carberry said with the eviction moratorium set to expire, some landlords may increase rent prices to make up for not receiving payments on certain units over the past year.

But according to Carberry, there's also the possibility that landlords will have a lot more supply than demand if they choose to evict a large number of tenants.

Carberry said in terms of demand, it is high right now for larger spaces.

“Two- and three-bedroom units are what people are looking for. As you're working from home, it's a lot more convenient to work from home when you're in a two-bedroom apartment and you have a dedicated room for an office than it would be in a studio apartment when you're working at your kitchen table,” said Carberry.

Carberry told Denver7 that because larger spaces are in higher demand, renters can find better deals on studio apartments now than they were able to a year ago.