Apartment rents in state outside of metro Denver reach record highs
DENVER — Average apartment rents reached first-quarter highs in areas of Colorado outside of the Denver metro area, according to a rent and vacancy report released by the Colorado Division of Housing.
Average rents not including Denver were $1,026 a month in the first quarter, an 8 percent jump from the $992 average in the first quarter of 2013 and a bump from an average of $992 in the fourth quarter of 2013, the Denver Business Journal reported.
In Northern Colorado, rents jumped 17 percent in Fort Collins from the first quarter of 2013 and they were up 13 percent in Greeley.
The vacancy average outside of metro Denver was 5.2 percent in the first quarter, up from 4.9 percent in the first three months of 2013 but down from the 5.4 percent average of the fourth quarter.
The breakdown of vacancy and rent averages in the first quarter were:
*Colorado Springs: 6.7 percent; $822.
*Fort Collins/Loveland: 1.7 percent; $1,216.
*Grand Junction: 5.3 percent; $525.
*Greeley: 4.4 percent; $793.
*Pueblo: 8.1 percent; $595.