Denver-area apartment vacancy rates hit 3-year low

The Denver Post
POSTED: 11/11/2010 01:00:00 AM MST

Vacancy sign on a Denver metro-area apartment building Wednesday, 1/29/03. ( | JERRY CLEVELAND)

Apartment vacancies in metro Denver fell to a three-year low of 5.3 percent during the third quarter, according to a report released Wednesday.

The highest vacancy rates were in Arapahoe County, where rates fell year-over-year from 8.5 percent to 6.7 percent. Rates were lowest in the Boulder-Broomfield area, where they fell from 5.5 percent a year ago to 3.5 percent during the third quarter.

Vacancy rates in other counties were Adams, 4.4 percent; Denver, 5.3 percent; Douglas, 4.4 percent; and Jefferson, 3.9 percent.

Rents increased for the third consecutive quarter, averaging $913. All counties in the metro area reported year-over-year increases in average rents.

Average rents for all counties were: Adams, $915; Arapahoe, $882; Boulder-Broomfield, $993; Denver, $905; Douglas, $1,113; and Jefferson, $864.The Denver Post; Denver Post file photo

Read more:Denver-area apartment vacancy rates hit 3-year low – The Denver Posthttp://www.denverpost.com/business/ci_16580008#ixzz1502t0lP0

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About dherries
Dave and Sally Herries and The RealtyColorado Team - Real Estate Broker serving the metro-Denver area. Offering properties in urban, sub-urban and rural areas. Our mission statement is "Enriching lives through real estate."

2 Responses to Denver-area apartment vacancy rates hit 3-year low

  1. This is very interesting. Do you have any idea what is causing the vacancy rate to decrease as it is? Any new industry?

    • dherries says:

      This has occurred because of the number of people that have lost their homes to short sale or foreclosure. The logical option for them is to rent a home. The Metro Denver economy is strong and getting stronger allowing the area to not only maintain it’s population base but to see some moderate population growth.

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