The average rental rate for an apartment in metro Denver increased by 5 percent year-over-year in the third quarter to $1,368 per month, according to the latest report from the Apartment Association of Metro Denver.
But the rate of appreciation is slowing, data show. From third-quarter 2014 to 2015, the average price of an apartment in the metro area increased 12 percent, and in the same period from 2013 to 2014, rents increased 9 percent. Since third-quarter 2013, the average monthly rent in the metro area has increased 30 percent from $1,048 to $1,368.
These statistics from the Apartment Association of Metro Denver cover 118,027 apartment units in the seven-county metro area encompassing Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson counties and take apartments of all sizes and ages into consideration.
Read more from the Denver Business Journal: http://bizj.us/1ooxws.