Denver Renter Budget Guide
How to budget for rent, utilities, and living expenses in Denver
💰 The 30% Rule Explained
Financial experts recommend spending no more than 30% of your gross income on rent. Here's what that looks like:
⚠️ Note: In high-cost cities like Denver, many renters spend 35-40% on rent. While not ideal, it's reality for many. Just ensure your budget elsewhere is tight.
📊 What Income Do You Need?
Most Denver landlords require you earn 3x the monthly rent. Here's the breakdown by apartment type:
💡 Tip: Can't meet the 3x requirement? Consider a guarantor/co-signer, roommate, or offer to pay extra months upfront.
💸 Sample Denver Renter Budget
Here's a realistic monthly budget for a Denver renter earning $4,500/month ($54,000/year):
🏠 Housing (35% = $1,575)
🚗 Transportation (15% = $675)
🍽️ Food (15% = $675)
📱 Other Expenses (20% = $900)
💚 Savings & Debt (15% = $675)
⚠️ Hidden Costs to Consider
Don't forget these often-overlooked expenses:
- First month's rent
- Security deposit (1 month)
- Application fee ($30-75)
- Moving costs ($300-1,200)
- Furniture/household items
- Parking ($50-150)
- Pet rent ($25-75/pet)
- Storage unit ($50-150)
- Package lockers ($10-25)
- Gym/amenity fees (varies)
💡 Money-Saving Tips for Denver Renters
1. Get a Roommate
Split a 2BR ($2,150) = $1,075 each vs. 1BR ($1,750). Save $675/month!
2. Choose Up-and-Coming Neighborhoods
Globeville ($1,400) vs. Cherry Creek ($2,300) = Save $900/month with good transit access.
3. Use Public Transit
RTD Monthly Pass ($114) vs. Car costs ($675) = Save $561/month
4. Time Your Move
Move Nov-Feb for best deals. Spring/summer demand drives prices up 15-20%.
5. Negotiate Rent
Ask for $50-100/month discount, especially for longer leases or off-season moves.
6. Reduce Utility Costs
LED bulbs, programmable thermostat, energy-efficient habits can save $30-50/month.