It can be safely said that renting is the better housing option at present, given the increase of property prices in Denver and the whole of Colorado. It is true that rents are slightly up, but they are still quite affordable. You simply have to make the right choice between the different options available. The good news is that the supply of Denver homes to rent is quite high, so you have a wide range of properties in different locations to select from.
The first thing you need to do is to decide where you would want to live in the Mile-High City. There is a variety of neighborhoods in the suburbs. These are popular choices for families with children. Some of the popular and prestigious neighborhood offering peaceful atmosphere and excellent facilities include Washington Park, Capitol Hill and Cherry Creek. These are definitely recommended choice. If you want to live out of town in one of the metropolitan areas, good choices would be Stapleton, Arvada and Westminster.
Decide on the type of property you want to rent, depending on your preferences and requirements. You can choose from a wide range of different Denver homes for rent. You can select from apartments and single family homes with one, two, three or four bedrooms. It is also possible for you to find a house with five or more bedrooms, but these are usually found in neighborhoods that are further away from the city, such as the newly developed Stapleton residential community. In addition, you will have a higher chance of finding such a property in one of the nearby towns that are more remote and close to the natural surroundings of the settlement. Some excellent choices would be Castle Rock and Kiowa.
The choices for individual renters and couples without children are abundantly many as well. The lofts in downtown Denver offer exclusive setting and proximity to company offices and major shopping facilities. Studios are also great options, especially given their lower prices. You can rent a great studio for around $790 or even less. You can find such rental properties downtown as well as in many of the residential communities in the city and the surrounding metropolitan area.
It is essential for you to consider your budget for living in one of the rental Denver homes. The simple rule is that the fewer the bedrooms the lower the rent is. If you have a big family, but you need to save on housing costs, you should definitely consider renting an apartment rather than a house. The prices of these are between $200 and $500 lower, on average. For instance, the average monthly lease price of a three-bedroom apartment is $1,250, while a house with the same number of bedroom costs approximately $1,450, on average. Just keep in mind that even if cost is your main concern, you should not rent a property that is in poor condition as this might actually turn out to be much more expensive, when it comes to paying utility bills.
You should definitely consider hiring a real estate agent specializing in property rentals to help you choose between different Denver homes for rent. This will increase your chances of finding your dream home at a lower lease price.