Denver Metro Apartment Rents Drop 3.7% Amid Surplus of New Units
By
matthest
A good honest bake. Not flashy, but you'll finish the whole bagel.
Summary
Apartment rents in the Denver metro area have decreased by 3.7 percent in the second quarter compared to the previous year, according to a report from the Apartment Association of Metro Denver. This decline is attributed to a surplus of new units, including 20,000 in 2024, leading landlords to lower rents to attract tenants.
Key quotes
· 3 pulledThe average rent in the area fell 3.7 percent in the second quarter compared to the prior year.
Rents started falling at the end of last year, the association’s data show.
The city’s renters are finally catching a break after a building boom in recent years led to a glut of space that landlords are struggling to fill.
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