Apartment Rent Update

Untitled design (1)According to the latest report by apartment housing research company Axiometrics, apartment rents in Denver grew by 10 percent in the third quarter, which was the fourth-­biggest jump in the U.S.

In the latest three months, apartment rents in Denver have increased 3.3 percent, which is the seventh­biggest jump in the country. However, one sign that the Denver apartment market may be cooling is a decline in the occupancy rate.

In the latest quarter, Denver’s occupancy rate fell 0.3 percent from the second quarter to 95.8 percent, which is still above the national average occupancy rate of 95.3 percent.

Last month, it was reported that the average monthly rent for a one­bedroom apartment in the city of Denver is $1,090, with two­bedrooms averaging $1,550. The two­bedroom rent average is 41 percent above the national average.

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