ZIP Code · CO

ZIP 80231

Part of Denver, CO

Pop. 35,883·Arapahoe County·152nd most expensive ZIP in Colorado

Median rent (all units)

$1,488/mo

Year-over-Year

-2.5%

Month-over-Month

-0.3%

vs US Median

-$444

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 80231 · $1,488

More affordable than 74% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,096

1 BR

$1,167

2 BR

$1,391

3 BR

$1,820

4 BR+

$2,032

Research median

$1,391/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

February. Asking rents in ZIP 80231 usually run 1.6% below trend in February and 1.4% above it in July, about $45 a month apart at today's median. Based on 7 years of data.

Compared with the peak

Rent in ZIP 80231 is 12.7% below its high of $1,705 in January 2024, at $1,488 as of September 2026.

Past year vs. the rest of Colorado

Rent in ZIP 80231 changed -2.6% over the year to September 2026. Across the 155 Colorado ZIP codes Zillow tracks, the typical change was +1.3%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 80231 rose 26% while median household income rose 29.7% ($58,982 to $76,502). Income kept ahead of rent.

Since before the pandemic

Rent in ZIP 80231 is 8.6% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has fallen 2 months in a row, and rose in 4 of the last 12 months.

What a typical income covers

30% of the median household income ($76,502) is $1,913 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,820); a 2-bedroom is $2,170.

Rank in Denver

2nd cheapest of 27 ZIP codes in Denver.

From Zillow's monthly rent index (ZORI) for ZIP 80231. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$17,856/yr

At $1,488/mo median

Location

CityDenver

StateCO

CountyArapahoe County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 2.5% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-2.5% YoY, -0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 80231 (Denver, CO) is majority renter-occupied, skews toward younger working-age adults, 51.9% of residents hold a bachelor's degree or higher.

Population

35,883

Median income

$76,502

Median age

33.3

Renters

60.4%

Age distribution

21.3%

32.2%

24.8%

12.9%

Under 1821.3%

18–3432.2%

35–5424.8%

55–648.8%

65+12.9%

Gender

50.4%

49.6%

Male50.4%

Female49.6%

Race & ethnicity

57.1%

13.8%

24.4%

White57.1%

Black13.8%

Hispanic24.4%

Asian3.4%

Other1.3%

Education (25+)

15.8%

25.9%

51.9%

No HS diploma6.4%

HS diploma15.8%

Some college25.9%

Bachelor's+51.9%

Housing tenure

39.6%

60.4%

Owner39.6%

Renter60.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 80231 in Denver, CO has changed in 5 years

Rent

$1,397 → $1,488

up 6.5%

Income

$69,719 → $76,502

up 9.7%

Population

35,168 → 35,883

up 2.0%

Renter share

59.7% → 60.4%

+0.7 pts

Bachelor's+

51.7% → 51.9%

+0.2 pts

Median age

34.9 → 33.3

-1.6 yrs

Compared with 2021, rent in ZIP 80231 in Denver, CO has climbed by $91 per month, settling near $1,488 after starting the period at $1,397. Median household income grew from $69,719 to $76,502 between 2021 and 2024, a 9.7% shift. Income growth outran rent by about 3.2 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 35,168 to 35,883 between 2021 and 2024, a 2.0% change. Taken together, the five-year picture in ZIP 80231 in Denver, CO reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 80231

Last updated: October 17, 2026

ZIP code 80231 covers Denver, CO. The median rent here is $1,488/mo as of October 2026. A 1-bedroom rents for a median of $1,167/mo. A 2-bedroom rents for a median of $1,391/mo.

At 23% of local median household income ($76,502/yr), ZIP 80231 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 2.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 80231?

To keep rent at or below 30% of gross income, you would need to earn at least $60,000/year (about $29/hour full-time) to afford the median rent of $1,488/mo in ZIP 80231. The local median household income is $76,502/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 80231?

Rent in ZIP 80231 has fallen 2.5% over the past year as of September 2026. It sits 12.7% below its high of $1,705 in January 2024.

When is the cheapest time to rent in ZIP 80231?

Asking rents in ZIP 80231 are usually lowest in February, about 1.6% below their yearly trend, and highest in July, about 1.4% above it. At today's median that is a gap of roughly $45 a month. This pattern comes from 7 years of Zillow rent data.

Has rent outpaced income in ZIP 80231?

No. From 2019 to 2024, rent in ZIP 80231 rose 26% while median household income rose 29.7%, from $58,982 to $76,502. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 80231 compare to other ZIPs in Colorado?

ZIP 80231 is one of the more affordable among Colorado ZIP codes for rent, ranking #152 of 168 at $1,488/mo. Over the year to September 2026, rent in ZIP 80231 changed -2.6%, against a typical +1.3% across the 155 Colorado ZIP codes Zillow tracks.