We're in the midst of our spring campaign, and we have until June 7 to raise $12,000. This money directly supports the journalismproduces and helps keep our work freely accessible for all, because not everyone can afford to pay for news. If you value our work, please make a contribution today to help us reach our goal.for the first quarter of 2024, rental prices and vacancy rates are nearly flat across metro Denver compared to the end of 2023, with just 1.
Experts with AAMD say 6 percent is generally the highest vacancy rates can be without causing prices to drop. In Denver proper, there is a 5.9 percent vacancy rate and the average rent is $1,915. cream-puff houses, which generally come with updated kitchens and bathrooms and little move-in work, could play a role.
AAMD has been compiling rental trends reports for 44 years. The most recent iteration uncovered a 5.7 percent increase in average rental prices over eighteen months, but over the most recent year-and-a-half-stretch, Denver’s increase in rent prices was only 2.27 percent. According to the AAMD report, there are 42,989 apartment units being built right now, compared to the 45,800 being built a year ago. Planned units that haven’t reached the construction stage have also decreased from 76,800 a year ago to 65,700 now.When interest rates were low a few years ago, developers rushed to build apartments because that provided a way for them to get the most out of their investment, Bruteig said.