Blake Kittridge has lived in Denver for 4 years. He moved into the Infinity LoHi building in the middle of the pandemic. He likes living there but recently, they told him they are raising his rent by more than $800 a month.
“I know that this is more of like a price-gouging thing,” he says. “The entire reason they are raising my rent like they are is because they believe they can get that on the market so they can push me out.”
He rents a one-bedroom apartment for $1,650 per month. His landlords just told him rent for next year is going up to $2,490 per month.
Ron Throupe, an associate professor of real estate at the University of Denver. He just completed a second-quarter study about the rental market in Denver. He says rent is up on average by $107 for the quarter.
“That’s the largest rent increase quarterly we’ve ever seen in this survey,” Throupe says.