Your Rent in Colorado Could Rise $500 A Month in 2024, Here’s Why

A major concern amongst Coloradans for years has been the cost of living. The cost of renting and owning a home has grown exponentially every year. Are housing costs going to decline in Colorado? Not anytime soon.

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I am a renter and the renewal of my lease is quickly approaching. I am incredibly worried, and many Coloradans are expecting their rent to rise.

Fort Collins Residents Are Struggling

A group of Northern Coloradans had a huge discussion regarding rental increases in Fort Collins.

A user mentioned how they were surprised to see their rent increase by $250 in just a few months. They also said that their rent has only increased by $75 the entire time they lived at their home in three years.

The user is in a tough situation, but others point out more dramatic situations.

Another person said that their rent was $1,200 and raised $500 to $1,700. This user said that due to the last-minute notice, they were unable to move and had to pick up a second job.

You can view the full discussion here for more stories.

Colorado Landlords Are Not Always to Blame

Many are quick to blame landlords for the increase in prices, but oftentimes, they have to raise rent due to their property.

Property taxes are at an all-time high in Colorado and they have skyrocketed going into 2024. The Denver Post reported that property taxes have gone up 42% for Colorado homeowners.

All housing costs are rising, unfortunately. Inflation has caused insurance and all other costs to rise.

Last year, a bill trying to control rising rental costs failed.