Here’s a fact you may not believe: there are apartments for rent for about the same price they were four years ago. Yup – despite all the talk about the median or average apartment rent being high and having risen 30% in the last few years – that does NOT apply to every apartment.
There are reasons that the median price has risen – and a lot of that has to do with all the brand new apartments being priced much higher because they are new and have great amenities. That drags the median price up, but the important thing to know is that there are plenty of good apartments for much less money. Despite the fact that the median one bedroom rent now in Denver is about $1700, there are nice apartments for $1,100 or even less. I’m going to focus on ‘one bedroom units’ in this article, but the same concept applies to two or more bedroom units. Here’s how to find a rental that suits your needs and your price.
What do you need in an apartment?
To begin with, what kind of places do you want to choose? Do you have your own furniture? Or, would a furnished unit with everything from a bed, sheets and kitchen utensils be the best approach? Furnished units can be a good place to start with when moving to a new city, especially if you’re not sure that you want to relocate permanently, or if you are moving into your first apartment. You can drive cross-country with just a car and some clothing, get yourself settled in quickly without having to purchase cookware, bedding and everything else. Then you can live where you are interested in planting roots, and have time to scope out the city neighborhoods before making a long-term commitment and towing that U-haul 2,000 miles.
Would you consider “co-living”? This is where you share a house with some folks. You have a bedroom to yourself, but share a kitchen, living room, and possibly a bathroom. It is less private, but at the same time it can provide you with some instant friends who can share info on everything from restaurants to neighborhoods. This kind of living arrangement can be significantly cheaper, not just in the monthly rent, but also save you money in the sharing of utility costs (and possibly avoid utility deposits.). You will find these listed on some of the websites.
Where to search online for an apartment:
First thing to know is that there are dozens of different apps and websites that list vacancies. Some are national, like Apartments.com or Zillow.com, and some are specific, like FurnishedFinder.com, which specializes in housing that is furnished and ready for move in. Locally, there are Facebook groups like “Denver Housing, Rentals…”
As you go through your search, you will want to look at a minimum of four websites or apps to get a broad perspective. I don’t believe it matters which sites you look at because many landlords use software that posts to more several of them. TurboTenant, for example, is a product I use and it automatically posts my rental unit to a couple dozen websites including Craigslist.org and Realtor.com. The important thing is to check multiple sites. Also, local property managers may not list their rentals on sites other than their own, so make a note of those local websites if and when you visit the neighborhoods.
Price range – right now, here in the Denver metro area there are 20,942 apartments available – see picture below. Using the filter tool, I can narrow that down to 12,600 studio or 1br units.
The median rent in Denver is around $1,700 for 1 bedroom apartment. That amount has been dragged upward over the last few by the addition of tens of thousands of brand new apartments with amazing amenities but rent for higher prices. Some include amenities like a gym, pools, barbecue grills, dog washing stations, parking, common areas for remote work with WiFi. Do you need all of that? If you are on a tight budget, you probably would prefer to pay less and forego some or all of those luxuries for the time being. So use the Price filter to set Max Rent to $1,100. Now there are 702 apartments available for less than $1,100.
Keep using the filters. Once you’ve narrowed down the search to a half dozen properties in your price range in the area you want, it is time to head over to them and walk the neighborhood. Who lives there? Is it your tribe? Does it have the right vibe? If you don’t have a car, does the area have transportation, and the kind of food stores you like. How far is it from your job? If you do have a car, is there on-street parking? Are parking spaces available for rent if you later decide you want that luxury? Does the building look safe? If you see people coming and going from the building, you can say hello and mention you are looking at the neighborhood, and ask them how they like it, how long they’ve lived there, is it safe? You can also look up many properties online and see how tenants rate their landlords and properties. If you have a dog, or plan on getting one, maybe ask someone walking their dog about whether the area is dog-friendly. Some neighborhoods have dog parks.
Urban areas may have public transportation – Zillow and other sites will tell you how “walkable” and “bikeable” a property is. If you don’t have a car, this is important. Also, if you have a bike, where will you store it safely?
These are the basics for finding a unit you can afford and that you like. If you opt for co-living, you will have to meet the roommates and see if you get along.
Generally, if you allow yourself three to six hours to do some online research and to call some property managers, you can find a property that suits your needs. I highly recommend seeing the unit and the neighborhood before signing a lease, even if you have to take an airplane flight just to do that. You can also stay in an Airbnb right in the exact neighborhood you want to live in, to get a good feel for it.
Some YouTube resources for renters:
This 2 minute video has some tips for a successful move-out. https://youtu.be/oXzW2EGiod8?si=yCNnydwSLAZMuOBo
The Lease video – things you ought to know- https://youtu.be/GTBBI3iCzTs?si=yYA__nhxZoxlZ1-l
The Mold video – avoid this danger to yourself and your pets. https://youtu.be/dfntAsqNbA4?si=o0mZ1bPVtqdXJtws
Water and leaks – avoiding a massive water bill – https://youtu.be/hcewbwnWV0s
Setting up the Utilities – cable, electric, gas – https://youtu.be/m1Lh9KxVs7U
Financial hardship – what to do if you lose your job- https://youtu.be/YuOWHp_gmxQ
The cleaning video – info about avoiding bugs/mice/pests – https://youtu.be/HnnDgTVxkQo
How to Find An Apartment in Denver (or anywhere) that’s within your budget
