Where to Rent in Denver: The Top Spots for 2024

Where to Rent in Denver: The Top Spots for 2024

As Denver continues to thrive, its rental market offers a diverse range of neighborhoods to suit every lifestyle and budget. For 2024, renters should prepare for both competitive prices and varied living experiences. With its booming job market and influx of new residents, Denver remains a magnet for young professionals, families, and luxury-seekers alike. However, finding the right neighborhood depends heavily on your priorities—whether it’s proximity to downtown, affordability, or access to outdoor activities.

This blog will explore some of the best spots for renters in Denver in 2024, focusing on key statistics and insights to help you make an informed choice.

1. RiNo (River North Arts District)

RiNo is one of Denver's trendiest neighborhoods, known for its vibrant art scene and creative energy. The district, once an industrial zone, has been transformed into a hub for young professionals and creatives. Its combination of street art, breweries, and cutting-edge restaurants attracts those seeking an urban lifestyle with a cultural twist.

• Average Rent: The average rent for a one-bedroom apartment in RiNo is $2,800, reflecting a 7% increase year-over-year, according to a recent Westword report. This hike is driven by the area’s growing popularity among high-income earners.
• Key Attractions: With its proximity to downtown Denver and unique mix of art galleries, RiNo continues to attract affluent renters who prioritize culture and nightlife over suburban quiet.

2. LoDo (Lower Downtown)

LoDo, one of Denver’s oldest neighborhoods, blends historic charm with modern amenities. Its central location near Union Station makes it ideal for professionals who want to live within walking distance of Denver’s top dining and entertainment options. The neighborhood also boasts a mix of historic lofts and new luxury developments.

• Average Rent: The median rent in LoDo is about $2,900 per month for a one-bedroom apartment, up 6% year-over-year (Relocity data). With demand for central living high, prices in LoDo reflect the area's appeal to young professionals and those seeking quick access to downtown offices.
• Key Features: LoDo is home to Coors Field, Denver Union Station, and a range of rooftop bars, making it a prime destination for socializing and urban living.

3. Capitol Hill

Capitol Hill remains one of Denver's most eclectic and affordable neighborhoods. It offers a blend of historic charm, with its Victorian homes, and a thriving bar scene. Renters in Capitol Hill tend to value the neighborhood’s proximity to downtown without paying the premium that comes with areas like RiNo or LoDo.

• Average Rent: In 2024, Capitol Hill offers a more affordable option with an average rent of $2,200 for a one-bedroom apartment. This makes it one of the most cost-effective neighborhoods for renters looking to live near downtown Denver.
• Demographics: Capitol Hill appeals to students, young professionals, and artists who want to live in a vibrant, walkable community without breaking the bank.

4. Cherry Creek

Cherry Creek offers upscale living in one of Denver’s wealthiest neighborhoods. Known for its high-end shopping and dining options, this area attracts affluent renters who seek luxury living just minutes from downtown. The neighborhood is also home to the Cherry Creek Shopping Center, making it one of the city’s most desirable addresses for those who value convenience and luxury.

• Average Rent: Cherry Creek remains one of Denver’s priciest neighborhoods, with average rents reaching $3,500for a one-bedroom unit. This marks a 5% year-over-year increase, driven by the neighborhood’s premium offerings and demand from high-income earners.
• Key Features: Cherry Creek offers easy access to parks, upscale dining, and luxury shopping, making it the perfect neighborhood for those who want to combine suburban tranquility with urban amenities.

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5. Highlands (LoHi)

The Highlands, often referred to as LoHi (Lower Highlands), provides a perfect balance between city living and a more laid-back atmosphere. With its trendy restaurants, rooftop bars, and stunning views of the Denver skyline, LoHi is a popular choice for young professionals and families alike.

• Average Rent: The average rent for a one-bedroom in LoHi is $2,700, making it a mid-range option for those who want proximity to downtown without the high-energy pace of areas like RiNo.
• Community Feel: LoHi has a strong sense of community, with regular farmers markets, family-friendly parks, and a walkable design that appeals to a range of renters.

6. Five Points

Five Points, one of Denver’s oldest neighborhoods, has a rich cultural history and a diverse community. Once known as the "Harlem of the West" for its jazz scene, Five Points is now a sought-after area for renters who want to live close to downtown without paying downtown prices.

• Average Rent: Renters in Five Points can expect to pay around $2,400 per month for a one-bedroom apartment. This is more affordable than RiNo or LoDo, making it a great option for renters seeking proximity to the city center.
• Attractions: Five Points is known for its cultural diversity, rich history, and strong sense of community. It’s home to the annual Five Points Jazz Festival and a growing number of local restaurants and breweries.

7. Sloan’s Lake

Sloan’s Lake offers renters a suburban feel with easy access to downtown Denver. Known for its namesake lake, which is the largest in the city, this neighborhood is ideal for those who love outdoor activities like biking, walking, and boating. Despite its serene atmosphere, Sloan’s Lake is still just a short commute from the city center.

• Average Rent: One-bedroom apartments in Sloan’s Lake are more affordable, with average rents around $2,100. This makes it one of the more cost-effective options for renters who want a quieter, outdoor-focused lifestyle.
• Lifestyle: Sloan’s Lake offers a balance between city living and outdoor activities, making it perfect for families, retirees, and young professionals who value access to parks and recreation.

Final Thoughts

Denver’s rental market in 2024 is as diverse as its residents, with neighborhoods offering something for everyone. While the median rent across the city hovers around $2,797, renters can find options to fit various budgets and lifestyles. Whether you’re drawn to the cultural energy of RiNo, the luxury of Cherry Creek, or the outdoor appeal of Sloan’s Lake, the key is to identify what matters most to you.

For those navigating Denver’s rental landscape, the city's growing economy and vibrant culture make it an attractive place to call home—but be prepared for competitive pricing, especially in high-demand areas.

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