Renting is cheaper than owning a home in Denver
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Renting is cheaper than owning a home in the Denver metro, per a recent LendingTree analysis.
Why it matters: Housing costs have soared here and nationwide, with stubbornly high home prices and mortgage rates weighing on would-be buyers.
Driving the news: January home sales in the Denver area fell to 2008 levels, when the housing crash crippled the market, the Denver Post reports.
By the numbers: Denver homeowners with a mortgage now pay about 40% more per month than renters, LendingTree researchers found.
- The median monthly gross rent was nearly $1,943 in 2024, based on the latest available census data, compared to $2,681 a month for mortgaged homes.
The big picture: Denver isn't alone — renting is cheaper than owning a home in all 100 of the largest U.S. metros.
- In 22, owning costs at least 50% more each month than renting, including utilities, fees and taxes.
What they're saying: "The cost disparity here could be enough to convince someone that they'll never be able to own a home in some areas, and — unfortunately — they may be right," Matt Schulz, LendingTree's chief consumer finance analyst, said in a statement.