How Does Grand Junction’s Rent Stack Up to Denver’s?
If you think rent is high, you're right. But if you think rent in Grand Junction is out of sight, take a look at the average rent in Denver.
Based on Zillow's Rent Index, Denver's elevation isn't the only thing that's a mile high. Median rent in the city is $1,827 which is up 10.2 percent from a year ago making it one of the nation's top five cities with the largest percentage of rent increase in the last year.
The same index puts Grand Junction's median rent at $1,166 a mere one percent higher than a year ago. Montrose has a median rent of $1,177 with a year to year increase similar to Grand Junction. Median rent in Delta County is $1,161.
The Zillow Rent Index report these as the Top Five Cities With Skyrocketing Rent.
- San Francisco, Calif. - Median Rent $3,055. Increase 14.9%
- San Jose, Calif. - Median Rent $3,190. Increase 13.4%
- Denver Colo. - Median Rent $1,827. Increase 10.2%
- Kansas City, Mo. - Median Rent $1214. Increase 8.5%
- Portland, Ore. - Median Rent $1,587. Increase 7.2%
Nationally, the average rent is around $1,350 per month, a 3.3% increase from January 2014. The report also indicates Americans will spend approximately 30% of their income on housing this year. Historically, 25% of income was used as the benchmark.