Apartment Vacancy Rate Dropping

Alaris Properties, LLCVacancies in metro Denver in the third quarter dropped almost a full percentage point to 3.9 percent.

In the second quarter, the vacancy rate was 4.7 percent.

From second to third quarter, the average rent in the metro area rose to $1,145 per month, about a 2 percent increase over the previous quarter when the average rent was $1,117 per month.

Net absorption of apartments in Denver increased quarter-over-quarter, with 4,470 units absorbed in the third quarter, compared with 3,127 last quarter.

The complete report can be found here.

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