Rents are spiking at double-digit rates across metro Denver, and while the gains aren't as extreme as the rise in home prices, they are leaving tenants facing them feeling financially depleted and trapped in a predicament they can't easily escape. Sarah Wadsworth and her fiance were happy with their apartment at Infinity LoHi in northwest Denver. The rent of $1,900 a month, plus another $175 a month for two parking spots, was higher than the $1,700 they previously paid to live in Capitol Hill. Wadsworth said the trade-off was worth it to avoid break-ins and to keep her dog safe from the heroin needles on the sidewalk. That sense of having made the right move all changed when it came time to re-sign the lease this spring. "Then the sticker shock comes — they say we are raising your rent by $400 a month," Wadsworth said. "I was freaking out. Two of our closest friends in the same building got increased by $500. They had a city view, but identical units otherwise." She tried to get the front office to explain what was going on. The staff understood the financial bind they were putting tenants in, she said, but the… Read full this story
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