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Metro Denver apartment rents up only $8 the past year – Denver, Colorado

Denver, Colorado 2021-05-01 08:00:59 –

According to the latest vacancy and rent reports for Denver Metro Apartments, rents for Metro Denver apartments are about flat year-on-year, but vacancy supplies are below pre-pandemic levels.

Compared to the previous year, rents are basically flat, with average rents up $ 7.89 and median up $ 7.85. Apartment vacancy rates in the region fell from 5.8% in the fourth quarter to 5.5% in the first quarter, down from 5.9% earlier last year.

Average apartment rents across the metropolitan area were $ 1,543.59 in the first quarter, up $ 33.33 from average rents of $ 1,510.26 in the fourth quarter. Median or midpoint rents increased from $ 1,449.01 to $ 1,483.28 over the same period, with quarterly net fluctuations of $ 34.27.

Ron Sloop, an associate professor of real estate at the University of Denver Daniels, said: Business College, comments accompanying his report.

In another release, Mark Williams, executive vice president of the Metro Denver Apartments Association, said a 2.2% increase in average rent in the first quarter was consistent with the 10-year average increase seen in Metro Denver. ..

A slight annual rise in rent, in contrast to inflation seen in home prices, has risen by 15%, he said. Throupe adds that rent inflation has been declining since 2016 and is below overall inflation. If wage increases can continue to outpace rent increases, it will give tenants more room for their households.

Metro Denver apartment rents up only $8 the past year Source link Metro Denver apartment rents up only $8 the past year

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