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Denver Apartment Rents Drop (Denver Post)
The most recent quarterly data from to the Apartment Association of Metro Denver (AAMD) shows that the Denver rental market is cooling off (see link to article below).
Average apartment rents in metro Denver fell for the second quarter in a row in the fourth quarter of 2016 as the market struggled to absorb a record number of new units.
Average apartment rents fell from $1,371 in the third quarter to $1,347 in the fourth quarter, marking the largest quarterly drop in the 36 years the report has been conducted. Median rents stayed flat at $1,329 per unit.
Apartment vacancy rates shot up from 5.1 percent to 6.2 percent.