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Metro Denver apartment market holds steady even with construction surge

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The average rent in metro Denver rose from $1,846 in the first quarter to $1,878 in the second, an increase of $32

remained stable despite adding substantially more new units than it typically does in a quarter, according to an update Tuesday from the Apartment Association of Metro Denver.

Average rents were $1,717 a month in Adams County, $1,786 in Arapahoe; $1,980 in Boulder and Broomfield; $1,925 in Denver; $2,023 in Douglas and $1,886 in Jefferson County. The vacancy rate, a measure of the share of apartments that are unoccupied, went from 5.6% in the first quarter to 5.5% in the second. Vacancy rates ranged from a high of 6.1% in Douglas County to a low of 4.8% in Boulder and Broomfield counties.

 

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