Department of Numbers

Colorado Residential Rent and Rental Statistics

The median monthly gross residential rent in Colorado was $1,171 in 2016 according to the Census ACS survey.1 Average gross rent was $1,178 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Colorado median and average rent data will be released in September of 2018.

Data is also available below for Colorado rental vacancy rates, Colorado rent as a percent of median income and the fraction of renters in Colorado.

Show dollars as: Nominal Real

Real Gross Rent in Colorado (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Colorado Median Gross Rent $1,171 +4.00% +19.86%

Colorado Real Gross Rent Trends

At $1,171, real median gross rent in Colorado was at its highest level in 2016 since the series began in 2005. At $1,178, real average gross rent in Colorado was at its highest level in 2016 since the series began in 2005.

Real Gross Rent in Colorado: Median, Average, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Colorado

Date US Median Colorado Median Colorado Average
2016 $981 $1,171 $1,178
2015 $972 $1,126 $1,154
2014 $942 $1,028 $1,066
2013 $910 $977 $1,020
2012 $898 $949 $993
2011 $898 $928 $980
2010 $912 $921 $966
2009 $916 $926 $979
2008 $932 $959 $999
2007 $885 $884 $923
2006 $895 $915 $946
2005 $869 $904 $938

Colorado Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Colorado was 4.29% according to Census ACS data.

Rental Vacancy Rate in Colorado

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Colorado 4.29% -0.18% -0.97%

Trends in Colorado Rental Vacancy Rate

The rental vacancy rate in Colorado peaked in 2005 at 9.35%. Since then it has fallen by 5.06% to 4.29%. Data records for this series originated in 2005.

Rental Vacancy Rate: Colorado, US

Rental vacancy rate in Colorado

Historical Rental Vacancy Rate data for Colorado

Date US Colorado
2016 5.89% 4.29%
2015 5.85% 4.47%
2014 6.32% 4.85%
2013 6.49% 5.26%
2012 6.77% 5.69%
2011 7.40% 5.63%
2010 8.17% 6.72%
2009 8.43% 8.00%
2008 7.86% 7.45%
2007 7.87% 8.63%
2006 7.70% 8.36%
2005 7.74% 9.35%

Colorado Rent as a Fraction of Income

Using median household income data for Colorado, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Colorado, median monthly gross rent as a fraction of median household income was 21.39% in 2016 according to the ACS.

Colorado Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Colorado 21.39% +0.53% +1.58%

Trends in Colorado Rent as a Fraction of Income

Colorado renters paid 21.39% of median household income towards the median monthly gross rent in 2016. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Colorado, US

Percent of median household income going towards median monthly gross rent in Colorado

Historical Data for Annual Rent as a Fraction of Income in Colorado

Date US Colorado
2016 20.43% 21.39%
2015 20.63% 20.86%
2014 20.89% 19.97%
2013 20.78% 19.81%
2012 20.65% 19.74%
2011 20.70% 19.50%
2010 20.50% 19.16%
2009 20.12% 18.42%
2008 19.00% 17.85%
2007 18.66% 17.13%
2006 18.90% 17.99%
2005 18.89% 17.93%

Renter Fraction in Colorado

You can calculate the renter fraction in Colorado in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Colorado as a fraction of total Colorado households. In 2016 35.24% of households were renters according to Census ACS data.

Colorado Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Colorado 35.24% -1.01% -0.25%

Trends in the Colorado Renter Fraction

The Colorado household renter fraction peaked in in 2015 at 36.25% and is now 1.01% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Colorado, US

Fraction of renters in Colorado

History of Colorado Renter Fraction

Date US Colorado
2016 36.88% 35.24%
2015 36.97% 36.25%
2014 36.90% 36.14%
2013 36.50% 35.49%
2012 36.09% 35.97%
2011 35.42% 35.62%
2010 34.65% 34.06%
2009 34.13% 32.99%
2008 33.36% 32.51%
2007 32.80% 31.17%
2006 32.73% 31.27%
2005 33.10% 32.18%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.