Denver-area rental-home vacancies at 3.8% in Q2

Denver Business Journal – by Mark Harden

Rental-home vacancies in the Denver metro area were at 3.8 percent in the second quarter, the Colorado Department of Local Affairs’ Division of Housing reported.

The area’s vacancy rate for April, May and June was up slightly from the 3.1 percent rate in the first quarter but down from 5.2 percent in the second quarter of 2009, Tuesday’s report said.

The new report covers rented stand-alone homes and condos, but not apartment units.

The Division of Housing’s second-quarter report on Denver-area apartments, released Aug. 3, said the apartment vacancy rate was 6.1 percent, as compared to 6.1 percent in the first quarter and 9 percent in the second quarter of 2009.

As for the new rental-homes report, the second quarter’s vacancy rate was the lowest second-quarter rate since record-keeping began in 2004, Division of Housing spokesman Ryan McMaken said.

Second-quarter rental-home vacancy rates by county:

• Adams, 4.2 percent;

• Arapahoe, 2.9 percent;

• Boulder/Broomfield, 8.6 percent;

• Denver, 3.4 percent;

• Douglas, 2.9 percent;

• Jefferson, 3.3 percent.

Average rent for rental homes was $1,027.78 in the second quarter, down a bit from $1,035.56 in the first quarter but up from $1,016.35 in last year’s second quarter, the report said.

Average second-quarter rents by county:

• Adams, $1,094.98;

• Arapahoe, $999.50;

• Boulder/Broomfield, $1,518.43;

• Denver, $962.91;

• Douglas, $1,415.34;

• Jefferson, $975.25.

The report also said that the average number of days on the market for rental homes was 47.2 days in Q2, as compared to 45.1 days in Q1 and 54.7 days in Q2 2009.

mharden@bizjournals.com

Read more: Denver-area rental-home vacancies at 3.8% in Q2 – Denver Business Journal

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