Metro Denver apartment market holds steady even with construction surge

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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Denver area ranks as third most competitive rental market in the WestThe Denver area ranks as the third most competitive large rental market in the West behind Salt Lake City and Tucson, Ariz., blowing past Phoenix and Las Vegas.
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