Colorado apartment rents hit record high

August 09, 2012

Denver Business Journal

Average statewide apartment rents rose to an all-time high in the second quarter, while the vacancy rate for all major metropolitan areas in Colorado except Denver fell across the board, according to a state Division of Housing report released Thursday.

“In spite of some relatively weak job growth in some metros, household formation continues in Colorado, and people are looking to rent apartments,” Ron Throupe, a professor of real estate at the University of Denver’s Burns School of Real Estate and Construction Management and the report’s author, said in a statement. “In those areas with the most job growth, like Larimer County, the apartment market has become very tight.”