Front Range’s Apartment Market Continues to Flourish with Strong Economy

• Absorption reached 970 units during the second quarter – down from 1,147 from Q2 2018.
• The overall average rental rate in Metro Denver during the second quarter was $1,575/month, an increase of 3.75% year-over-year.
• A total of 23,183 units are under construction in Metro Denver, with more than 4,300 units located in the CBD.
• Metro Denver Vacancy rates increased by 40 basis points from the previous year to the current rate of 5.2%.