Denver Rental Rates Declined in November
DENVER — According to a RentCafé survey, rental rates remain steady across the nation’s most volatile markets during the holiday season. In November, rents were down for all sized units even though it was a mere 0.1 percent decrease month over month.
Here are some quick facts from the survey of the apartment market:
- National average rents hit $1,358 in November, up just 2.5 percent since this time last year – according to data from Yardi Matrix.
- After a steady increase in the past year (3.2%) Denver rents witnessed a slow decline in November: -0.4% since October, now clocking in at $1,511.
- Following the seasonal trend, Lakewood and Aurora have seen rents decrease month-over-month, hitting $1,408 (-0.9%) and $1,280 (-0.5%) respectively.
Image of the Colburn Apartments, Denver.