Average monthly rents in metro Denver rose to $1,419 in the second quarter of 2017, according to a report released today by the Apartment Association of Metro Denver.
That's an increase of 3.5 percent over the second quarter of 2016, when the average rent was $1,370 per month, less than half the rate of increase between 2015 and 2016, when rents rose 8.3 percent year-over-year in the second quarter.
“The rent growth trend for this market cycle continues to amaze some, but exemplifies the strength and magnet of the Denver market for relocation and job growth,” says Ron Throupe, associate professor of real estate and construction management at the Daniels College of Business and author of the report.
“The unemployment rate for Colorado is 2.3 percent, the lowest state in the U.S., with Denver at 2.4 percent. Employees need a place to live and whether it is by choice, affordability, or happenstance, apartments remain a strong destination," Throupe said.
Read more at the Denver Business Journal: http://bizj.us/1p8x9i
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