Denver, CO Market Snapshots Rental Market

Colorado’s Most Expensive ZIP Codes – Cherry Creek and Congress Park in the Lead, Englewood and Cherry Hills Village Close Behind at Nearly $2K

Colorado’s Most Expensive ZIP Codes

Key takeaways:

  • At $1,991, Denver’s 80206 is the #1 most expensive ZIP code for Colorado renters
  • Rents in 44 of Colorado’s most expensive ZIPs are above the $1,350 national average
  • Apartment construction is strong, with 13,142 new units expected in Metro Denver in 2017
  • Of the state’s top 50 priciest ZIP codes, 80538 in Loveland (#49) saw the highest rent expansion rate at 8%, while 80120 in Littleton (#39) saw the highest supply growth rate at 29%

With Colorado’s statewide average rent at $1,341, it’s no surprise that 44 ZIPs in the state boast average rents above national rates. Colorado’s most expensive ZIP, 80206, clocks in at $1,991 – about 50% above the national average, according to Yardi Matrix. Although still pricey, Colorado has in fact joined in on the national rental deceleration trend. Particularly felt in metros favored by young professionals, rents have cooled down in markets such as Denver, Houston, San Francisco and San Jose.

Metro Denver has also jumped on the national apartment boom trend alongside Nashville, the Twin Cities and Atlanta, surpassing many larger urban centers. New apartment deliveries will total 13,142 new units in Metro Denver—the 5th largest volume nationally in 2017, surpassed only by Miami, Los Angeles, Houston, DallasFort Worth and naturally, New York.

The interactive table below allows you to take a detailed look at Colorado’s top 50 most expensive ZIP codes for renters. Use the search box or click on the header of each column to sort results according to your preferences.

Top Most Expensive ZIP Codes in Colorado

#Zip CodeCityCountyAverage Rent
180206DenverDenver$1,991
280113EnglewoodArapahoe$1,914
380202DenverDenver$1,891
480303BoulderBoulder$1,858
580209DenverDenver$1,813
680238DenverDenver$1,768
780216DenverDenver$1,754
880204DenverDenver$1,744
980211DenverDenver$1,733
1080301BoulderBoulder$1,732
1180304BoulderBoulder$1,702
1280205DenverDenver$1,675
1380027LouisvilleBoulder$1,649
1480210DenverDenver$1,603
1580111EnglewoodArapahoe$1,581
1680126LittletonDouglas$1,564
1780305BoulderBoulder$1,558
1880223DenverDenver$1,553
1980112EnglewoodArapahoe$1,549
2080124Lone TreeDouglas$1,542
2180129LittletonDouglas$1,532
2280401GoldenJefferson$1,524
2380230DenverDenver$1,493
2480026LafayetteBoulder$1,490
2580134ParkerDouglas$1,482
2680203DenverDenver$1,479
2780237DenverDenver$1,478
2880023BroomfieldBroomfield$1,474
2980218DenverDenver$1,467
3080128 (Tie)LittletonJefferson$1,464
3180021 (Tie)BroomfieldJefferson$1,464
3280521Fort CollinsLarimer$1,447
3380226LakewoodJefferson$1,441
3480016AuroraArapahoe$1,435
3580123LittletonJefferson$1,434
3680138ParkerDouglas$1,430
3780020BroomfieldJefferson$1,423
3880031WestminsterAdams$1,421
3980120LittletonArapahoe$1,401
4080212DenverDenver$1,387
4180528Fort CollinsLarimer$1,383
4280247DenverDenver$1,373
4380108 (Tie)Castle RockDouglas$1,372
4480503 (Tie)LongmontBoulder$1,372
4580220 (Tie)DenverDenver$1,349
4680227 (Tie)DenverJefferson$1,349
4780228 (Tie)DenverJefferson$1,337
4880002 (Tie)ArvadaJefferson$1,337
4980538LovelandLarimer$1,336
5080104Castle RockDouglas$1,331

Apartment construction is booming in Denver, thanks to a strong job market, especially in high-income sectors, such as the tech industry. In fact, the Denver-Aurora-Lakewood metro area is set to add 13,142 new units in 2017. Of this, 7,672 new units will come online in Denver, 908 in Lakewood, 686 in Westminster, 434 in Littleton, 410 in Parker and 397 in Aurora.

With an average rent of $1,991—47% higher than the $1,349 per month national average—ZIP 80206 in Denver is Colorado’s #1 most expensive. Retaining its #1 spot from 2016, the average rent here has ticked up a mere $9 year-over-year, although supply has expanded by 184 new units—an 11% increase over the year-ago figure. Covering the neighborhoods of Cherry Creek, Congress Park and City Park, 80206 is home to some Denver’s oldest homes, as well as a bevy of new apartments, upscale shopping, dining and thousands of jobs. Pricey apartments in 80206 include The Edge at City Park, Nuvo and The Amaranth.

Colorado’s 2nd priciest ZIP code is 80113 in Englewood. Covering the neighborhood of Cherry Hills Village and parts of Englewood City, the average rent here clocks in at $1,914. Climbing from #4 in 2016, rents here grew 4% year-over-year. While supply levels in 80113 haven’t changed from the year-ago figure, Englewood as a whole will see 1,004 new units come online by the end of 2017.

Denver’s 80202 ranks as the 3rd top most expensive ZIP in the state. Covering the city’s Central Business District and the LoDo neighborhood, the average rent here clocks in at $1,891, down 4% from the year-ago figure. Overall, Denver is home to 7 of the state’s 10 priciest ZIPs, and 19 of the top 50.

80206 in Denver is the most expensive ZIP code in Colorado, with the average rent clocking in at $1,991.  Curious to see if other states’ priciest ZIPs can take Colorado on? Just move your cursor to another state boundary or hover over the price bar to see which states are in the same price range.

Methodology
  • Data compilation, analysis, and mapping done by RENTCafe using rent and construction data provided by Yardi Matrix, a RENTCafe sister company.
  • The average rent figures in this article were calculated from the actual rents charged in apartment buildings with at least 50 rental units, located in 125 U.S. markets, totaling approximately 15 million apartment units.
  • ZIP codes with less than 200 rental units and less than 3 properties were excluded from the calculations.
  • Rent prices are for apartments only, no single-family homes or townhomes were included.

Fair use and redistribution

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About the author

Balazs Szekely

Balazs is a qualified journalist with a thing for real estate. This obsession comes in handy in his work as an online content developer and creative writer for RENTCafe. When he’s not thrashing his keyboard, he takes pleasure in photography, aquascaping and all kinds of DIY projects. Feel free to get in touch with Balazs via email or Twitter.

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