The Apartment Association of Metro Denver, Denver is on track to add the most apartments in three decades. As a result, rental rates are decreasing somewhat. The Denver Post reports that the median apartment rent in metro Denver fell from $1,377 during the second quarter to $1,370 during the third.
Developers are most interested in building in Denver’s urban core, but Arapahoe County reportedly experienced a surge of 1,638 new units during the third quarter, of which 1,438 were occupied, suggesting that renters are becoming more inclined to move to the suburbs to save money.
