A Denver man received news from his landlords that they are raising his rent by over $800 a month, reports CBS4.
Blake Kittridge has lived in Denver for 4 years and moved into the Infinity LoHi building during the middle of the pandemic.
“I know that this is more of like a price-gouging thing,” he told CBS4. “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.”
Kittredge pays $1,650 per month for the one-bedroom apartment. But next year, the rent will go up to $2,490 per month.
"That's more than half of my monthly income," said Blake.
Ron Throupe, associate professor of real estate at the University of Denver, says that rent in Denver is up on average by $107 for the quarter after completing a study about the rental market in the city.
"That's the largest rent increase quarterly we've ever seen in this survey," Throupe told CBS4.
Kittridge told CBS4 he moved to Colorado from Pittsburgh but says he might have to move back.
"If this keeps going this way I’m going to have to accept the fact that I’m not going to be able to live here forever.”