Denver Rents Falling—Analysts Credit New Supply

Denver just joined Seattle in an exclusive club: high demand cities with flattening or falling rents.

1 minute read

January 27, 2016, 7:00 AM PST

By James Brasuell @CasualBrasuell


"Metro Denver apartment rents leveled off and vacancies rose sharply between the third and fourth quarters after a surge in new supply left more landlords scrambling to fill their units," reports Aldo Svaldi.

That information comes via the Apartment Association of Metro Denver, which included a statement about the "natural forces" of supply and demand when announcing the news.

Svaldi shares more details about the slight market correction:

The drop in median rents wasn't huge — a $7 decline from $1,252 a month in the third quarter to $1,245 in the fourth. The average rent held steady at $1,292 a month.

But in a sign more downward pressure on rents could be coming in the months ahead, the area's apartment vacancy rate surged to 6.8 percent from 5 percent in the third quarter.

The article goes into a lot more detail about submarkets and the implications of the trend for the future of the real estate market in the Denver area.

Tuesday, January 26, 2016 in The Denver Post

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