Metro Denver's apartment market saw its largest quarterly rent decline on record due to a surge in new supply, leading to increased vacancy rates across all markets. Nearly 20,000 new apartments were added last year, but demand faltered in the final quarter, resulting in average monthly rents dropping from $1,911 to $1,842, a 3.6% decline. Vacancy rates rose significantly, with Denver County reaching 7.5%. Rent cuts were most pronounced in Aurora, where rents fell sharply. An additional 15,000 new apartments are expected this year, potentially increasing pressure on landlords.
Continue to full article
Spanish 
English