2019 Q3 Denver Multifamily Market Report

Apartment Demand Remains Strong as Rates Continue to Climb

  • Absorption exceeded 2,000 units for the second consecutive quarter.
  • The overall average rental rate in Metro Denver during the third quarter was $1,605/month, an increase of 4.2% year-over-year.
  • Over 24,000 units are currently under construction in Metro Denver, with more than 25% of those units located in the downtown area.
  • The Metro Denver vacancy rate dipped below 5% for the first time since 3Q 2018 and finished the quarter at 4.90%.