Denver apartment vacancy rate hits 12-year low


Denver apartment vacancy rate hits 12 year low

Denver apartment vacancy rate hits 12 year low

Article dated October 29,2012 from the Denver Business Journal written by Dennis Huspeni made these significant points:

The Denver apartment vacancy rate stood at 4.3 percent in the third quarter, the lowest vacancy rate recorded since the same quarter in 2000, according to the report, which was also released by the Colorado Division of Housing. That vacancy rate stood at 4.8 percent for the second quarter and 4.9 percent for the same quarter in 2011. Except for Douglas County, every county saw average vacancy rate decreases.

Rent growth hit an 11-year high during the second quarter, but there is still enough demand out there to keep filling up units

Every metro Denver county included in the survey saw rent increases, with the exception of Adams. The biggest rent gain average came in Boulder/Broomfield, which climbed 8.1 percent in one year.

There haven’t been this few apartments available in metro Denver for 12 years, according to a Vacancy and Rent Survey released Monday by the Apartment Association of Metro Denver.

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