Real Estate
Broomfield Rents Spiked Over 5 Years: U.S. Census
US Census reports show median rent increased by 28 percent in Broomfield over the past 5 years. The trend is region wide, said an economist.
BROOMFIELD, CO -- Gross rent increases in Broomfield over the past five years were among the highest in the nation, the U.S. Census reported. The median gross rent in the U.S. increased $21 from $928 in 2007-2011 (adjusted for inflation), to $949 in 2012-2016. But in Broomfield, over that same five-year period, rent increased $312, or 28 percent,— from $1,105 to $1,417, according to a Denver Business Journal report.
Mike Van Den Bosch, Broomfield County senior economic development specialist, told DBJ that while the Broomfield rents have gone up, the trend can be seen all over the Northwest metro region.
The city/county of Broomfield calculated slightly different numbers, and appeared to have a slower rate of rent increases than Denver, DBJ reported.
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According to Broomfield's 2017 mid-year economic update, the average apartment rental rate rose 2.7 percent year-over-year to $1,545 per month while metro Denver's rose 3.6 percent to $1,420.
There are 6,891 rental units in Broomfield, according to the Denver Regional Council of Governments.
Find out what's happening in Broomfieldfor free with the latest updates from Patch.
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