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Vacancy Rates Still Falling

August 12, 2011

Apartments in Colorado are becoming hot commodities! During the second quarter the vacancy rates fell to 5.2%, the lowest since 2001. In the first quarter of 2001 the vacancy rates in Colorado were 4.3%. The drop in rate has resulted in some big changes in rent throughout the state. The average rent has increased 2% from the second quarter of 2010 to now, going from $862 to $877. Northern Colorado in particular has the tightest market right now, fostering sustained growth in rent in recent quarters.

The difference varies based on area and the average rent in these metro areas is Colorado Springs: $761, Fort Collins/Loveland: $882, Grand Junction: $631, Greeley: $649, Pueblo: $512 and Denver with $915.

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