There's no question, Denver is one of the most beautiful places to live in the country. Surrounded by snow-capped mountains, the Mile High City has a natural attractiveness. It has inspired authors, musicians and artists. It also doesn't hurt that almost every day is a sunny day.
With a continued influx of people, Denver is one of the fastest-growing cities in the U.S. It combines urban living with plenty of outdoor activities, adding to the appeal. You can work all week in an office and then spend the entire weekend skiing or snowboarding without going far.
The economy is also strong, with opportunities in technology, aerospace, agriculture and even cannabis. This makes Denver a popular place for young professionals. It also boasts neighborhoods at every price point for every person. With the right research, you can easily budget what living here will look like for you.
It's not hard to find the perfect place to call home in Denver, you just might struggle to narrow down your choices.
Even with its extensive growth and development, Denver is still a relatively affordable place to live. While rent prices vary from neighborhood to neighborhood, the average citywide rent for a one-bedroom apartment is around $1,930.
This is a little more than a one percent decrease over the previous year, but still a bit higher than the national average. Living in Denver doesn't have to break the bank, but you'll pay about $200 more than the average one-bedroom rent across the country.
Figuring this out means doing a little math since it's recommended to not spend more than 30 percent of your pre-tax income on housing.
That means for a one-bedroom apartment, at $1,930 per month, you'd need to earn around $77,200 per year. This is slightly higher than the median household income in Denver, which is $68,377.
Thankfully, you can find lower rent options throughout the city. It's also a good strategy to live with one or more roommates to make housing in any Denver neighborhood a possibility.
To get the most accurate dollar amount you can afford for an apartment, check out our helpful rent calculator.
Equally important to budgeting for rent is factoring in the cost of everyday expenses. These total up to the cost of living index, which in Denver is 113.1. This is higher than the national average by 13.1 percent.
At this level, you'll find certain things are more expensive in Denver, but not everything. Breaking down the essentials, it's worth noting that:
These costs won't change too significantly if you're relocating from many areas around the country since they're so close to what's average. But, there are a few areas that may call for a budgetary adjustment, including:
Knowing in advance the areas you'll need to budget for more heavily can make finding housing at the right price point much easier. It also allows you to focus only on the neighborhoods you can afford.
Like with most cities, you can see clusters of the most and least expensive areas in Denver. You can find areas a little more on-trend, with higher rents and more to do, a bit closer to downtown. Those a little more affordable stretch further outside the city center.
Interestingly enough, most neighborhoods at either end of the price spectrum lay to the south. More expensive options are to the east, while less expensive are to the west. You'll also notice an increased focus in residential life the further out you travel.
Regardless of location, each Denver neighborhood offers its own appeal. This makes it possible to find the perfect place to live no matter your preferences in a place to call home.
Stretching from the lower half of Downtown Denver into the southern area of the city lay the most expensive Denver neighborhoods. The trendy and classy areas sit in and around City Park. This is an actual green space exactly a mile above sea level.
Currently in flux, this area has seen both increases and decreases in average rents. City Park West, for example, experienced a 15 percent decrease, allowing it to slide to the bottom of our top 10 list.
Moving a little further south, you'll find high-price neighborhoods full of quaint, independently-owned businesses and unique architecture.
The common vibe, style with a relaxed flair, extends down to Southmoor Park, right at the southeastern border of Denver. This quaint neighborhood is currently seeing significant growth. Over the last year, rent prices jumped by over 25 percent.
| Rank | Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|---|
| 1 | Speer | $2,847 | 26.59% |
| 2 | Belcaro | $2,752 | 2.55% |
| 3 | Southeast Central Denver | $2,745 | 1.64% |
| 4 | The York on City Park | $2,730 | 6.23% |
| 5 | LoDo | $2,659 | -2.49% |
| 6 | Cherry Creek | $2,655 | -5.77% |
| 7 | Southmoor Park | $2,260 | 25.91% |
| 8 | Central Denver | $2,237 | -9.86% |
| 9 | Zenith | $2,223 | -1.19% |
| 10 | City Park West | $2,181 | -15.13% |
The least expensive Denver neighborhoods are all relatively close to each other. They share proximity to Cherry Creek State Park. The 4,000-acre park has both water and land activities and offers camping year-round. It's a perfect way to relax and enjoy the wildlife abundant in Colorado without spending a lot.
Neighborhoods on this list focus less on ways to spend money, and more on creating quiet and quaint communities. Most of these areas are small and residential, with minimal retail. Denver's oldest neighborhood, Washington Virginia Vale is on this list, and many of the homes have been around for a long time.
Even with the suburban feel, these neighborhoods are all still very much in the thick of things in Denver. Most are close to public transportation, making the more happening, and expensive, parts of town accessible.
| Rank | Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|---|
| 1 | The Glen | $1,072 | N/A |
| 2 | Kennedy | $1,110 | -12.89% |
| 3 | Stratford at Lowry | $1,116 | N/A |
| 4 | Goldsmith | $1,129 | 2.99% |
| 5 | Windsor | $1,135 | -11.92% |
| 6 | Spyglass Hill | $1,136 | N/A |
| 7 | Washington Virginia Vale | $1,161 | -4.83% |
| 8 | Indian Creek | $1,162 | 1.93% |
| 9 | Infinity Flats | $1,200 | -9.07% |
| 10 | Hampden | $1,216 | -28.60% |
Rent prices in Denver cover a wide range. You'll find neighborhoods like The Glen, a safe, family-friendly area, where rent averages close to $1,000. Others, like centrally-located and laid-back Speer, creep up close to $3,000 per month for a one-bedroom.
Here's how each Denver neighborhood averages out for rent.
| Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|
| 800 Penn | $1,707 | -4.07% |
| Baker | $1,828 | -2.46% |
| Ballpark Lofts | $1,729 | -7.62% |
| Ballpark | $1,978 | -1.53% |
| Bear Valley | $1,305 | -4.68% |
| Belcaro | $2,752 | 2.55% |
| Berkeley* | $1,924 | 1.32% |
| Camden Denver West | $1,710 | 6.47% |
| Capitol Hill | $1,865 | -3.03% |
| Central Denver | $2,237 | -9.86% |
| Cheesman Park | $1,749 | -19.77% |
| Cherry Creek | $2,655 | -5.77% |
| City House | $1,740 | -4.09% |
| City Park West | $2,181 | -15.13% |
| Civic Center | $2,145 | -9.30% |
| Curtis Park | $1,838 | -0.68% |
| Denver Central Business District | $2,092 | -8.40% |
| Denver International Airport | $1,521 | N/A |
| Devon Square | $1,675 | 3.43% |
| Downtown | $2,146 | -13.70% |
| East 29th Avenue | $1,687 | -2.98% |
| East Central Denver | $1,990 | 1.64% |
| East Denver | $1,850 | 0.46% |
| Emerys Capitol Hill | $1,707 | -4.07% |
| Far Northwest Denver | $1,906 | 0.54% |
| Far Southeast Denver | $1,473 | -6.21% |
| Far Southwest Denver | $1,309 | -24.47% |
| Five Points | $2,023 | -2.33% |
| Gateway | $1,471 | 1.00% |
| Goldsmith | $1,129 | 2.99% |
| Hale | $1,850 | -3.10% |
| Hampden South | $1,477 | -3.63% |
| Hampden | $1,216 | -28.60% |
| Harvey Park South | $1,236 | -13.64% |
| Highland Park | $1,812 | 1.96% |
| Highland | $2,146 | 2.93% |
| Indian Creek | $1,162 | 1.93% |
| Infinity Flats | $1,200 | -9.07% |
| Inverness | $1,810 | -11.92% |
| Kennedy | $1,110 | -12.89% |
| Lincoln Park | $1,569 | -0.25% |
| LoDo | $2,659 | -2.49% |
| Lowry Field | $1,835 | 0.48% |
| Marston | $1,392 | -33.88% |
| Near Northeast Denver | $1,606 | -2.85% |
| Near Northwest Denver | $2,146 | 2.99% |
| Near Southeast Denver | $1,258 | -10.61% |
| North Capitol Hill | $2,015 | 10.62% |
| North Central Denver | $2,023 | -2.33% |
| North Denver | $2,012 | -2.51% |
| Northeast Denver | $1,513 | 3.89% |
| Northeast Park Hill | $1,606 | -2.85% |
| Northwest Denver | $2,122 | 6.83% |
| Nuvo | $1,749 | N/A |
| Park Avenue West | $1,271 | 6.87% |
| Park Hill | $1,606 | -2.85% |
| Parliament | $1,525 | -3.79% |
| Platt Park | $1,729 | -4.19% |
| Skyhouse Denver | $1,732 | -5.22% |
| South Central Denver | $2,018 | -2.47% |
| South Denver | $1,718 | -12.82% |
| Southeast Central Denver | $2,745 | 1.64% |
| Southeast Denver | $1,438 | -7.87% |
| Southmoor Park | $2,260 | 25.91% |
| Southwest Denver | $1,461 | -14.12% |
| Speer | $2,847 | 26.59% |
| Spyglass Hill | $1,136 | N/A |
| Stapleton | $1,687 | -2.91% |
| Stratford at Lowry | $1,116 | N/A |
| The Glen | $1,072 | N/A |
| The New Parkway Condominiums | $1,569 | -0.25% |
| The York on City Park | $2,730 | 6.23% |
| University Hills | $1,598 | 0.25% |
| University Park | $1,770 | -11.29% |
| Villa Park* | $1,323 | 5.72% |
| Virginia Village | $1,216 | -2.18% |
| Washington Park West | $1,562 | -26.35% |
| Washington Virginia Vale | $1,161 | -4.83% |
| West Denver* | $1,323 | -6.51% |
| West Highland | $1,894 | 0.03% |
| Windsor | $1,135 | -11.92% |
| Zenith | $2,223 | -1.19% |
With one of the most walkable downtowns in the nation and 300 days of sunshine per year, it's a good thing that Denver offers such variety in where to live. So, take a moment to explore a city that's close to skiing and snowy mountains, but also has an artsy, laid-back vibe. Then, pick your perfect neighborhood in Denver, and begin the apartment hunt.
Lesly Gregory has over 15 years of marketing experience, ranging from community management to blogging to creating marketing collateral for a variety of industries. A graduate of Boston University, Lesly holds a B.S. in Journalism. She currently lives in Atlanta with her husband, two young children, three cats and assorted fish.