Comment on Metro Denver in the middle of its biggest apartment boom since the 1970s — but rent prices aren’t budging

Metro Denver in the middle of its biggest apartment boom since the 1970s — but rent prices aren’t budging

Metro Denver developers pushed out more than 5,000 new apartments in the third quarter, and rents barely moved despite that high volume, according to a quarterly update from the Apartment Association of Metro Denver. For the past several quarters, developers have added as many apartments in three months as they would average across an entire year before 2011. “I have been concerned about this for some time that we would flood the market with lots of apartments and vacancies would shoot up,” said Cary Bruteig, author of the quarterly report during a press call Wednesday. Rising vacancies would in turn force landlords to slash rents.

 

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