Apartment Rents Up Again In Colorado Springs, But Remain Shy Of Record Highs

Colorado Springs-area apartment rents rose again in the first quarter but stopped short of another record high. Renters paid an average of $1,130.25 a month during the January-March period, up $13.57 from the fourth quarter and a nearly $70 spike from the first quarter of 2017, according to a report from the Colorado Division of Housing and the Apartment Association of Southern Colorado. Although several apartment projects under construction will boost the area's supply, a strong demand for multi-family housing by millennials and empty nesters moving to the Pikes Peak region continues to fuel rent hikes, said Laura Nelson, the Apartment Association's executive director. Still, first-quarter rents remained $11.15 below Read more on Colorado Springs Gazette

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