Colorado renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Colorado is about $1,571 per month. This puts it in the 1st percentile compared to the nation average cost of rent, which is $1,307. Households in Colorado have a median income of $7,539 per month so the average renter in Colorado is spending roughly 21% of their earnings on housing.
Nationally, and in Colorado, home values are the data point most closely correlated with the cost of rent. The median price of a home in Colorado is $430,259 right now, which is higher than nearby states, meaning that rents in Colorado also tend to be higher versus these nearby states.
Higher rent prices are common in the eastern parts of Colorado while lower rent rates are often available in southwestern areas.
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