During the second quarter, the average rent increased by $25 to $1,903, according to a report from the Apartment Association of Metro Denver.
DENVER — A record number of apartments entered the Metro Denver market in the last 12 months, while vacancy levels and average rent costs have remained relatively stable.
A new report released by the Apartment Association of Metro Denver stated 7,399 new units were added in the second quarter of 2024, with a total of 18,831 new units coming online during the previous 12 months.
It’s the highest 12-month delivery of new apartments in the history of the 44-year report, according to Mark Williams, executive vice president for the Apartment Association of Denver.
“The net absorption level is also a record high, at 7,892 units – showing that the industry is delivering the new housing units that we desperately need in Metro Denver,” Williams said in the …
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