Rents in Denver metro area hit all-time high of $1,371 a month

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DENVER — Average monthly rent in the Denver metro area reached an all-time high of $1,371 in the second quarter, according to a survey from the University of Denver’s Daniels College of Business and the Colorado Economic and Management Associates.

Ron Throupe, a DU associate professor of real estate and construction management, said rents increased $55 a month in the three-month quarter that ended June 30. Rent in the first quarter averaged a previous all-time high of $1,315 a month.

“The upward cycle in rent growth resulting from the demand for units continues to impress as Denver becomes a destination for business and a top rated place to live,” Throupe said in a statement.

Vacancy for the Front Range moved down from 6.1 percent in the first quarter to 5.4 percent in the second quarter, according to the survey.