Apartment Trends Magazine February 2018

DENVER METRO APARTMENT VACANCY & RENT Metro Denver Vacancy & Rent Report Q U 4TH A R T QUARTER E R 2 0 1 7 2017 SUMMARY EXECUTIVE SUMMARY • 4TH $1,500 Vacancy Rate 6.4% $1,400 Last Quarter: 5.4% $1,300 $1,200 Average Rent - $1,396 Last Quarter: $1,412 $1,100 $1,000 Average per sq. ft. $900 $1.63 Last Quarter: $1.65 $800 12Q4 13Q2 13Q4 14Q2 Line: Percent Vacant Discount / Concessions 4.6% 14Q4 11.7% Last Quarter: 11.5% Net Absorption (Units) -59 Last Quarter: 2,869 17Q4 Average Rent Rate (/sq. ft.) $1.57 Arapahoe 4.9% 6 $1,332 $1.54 Boulder/Broomfield 5.9% $1,522 $1.69 Denver 7.2% $1,432 $1.74 Douglas 10.1% $1,527 $1.59 Jefferson 6.7% $1,386 $1.62 SPONSORED BY: (Average of all four quarters) Hottest Sub-Markets Boulder-University Denver - Wash. Park Denver - City Park Commerce City Wheat Ridge Longmont 1.9% 24.3% 23.3% 17.0% 16.6% 15.2% 13.7% 12.7% 13.1% 14.1% 12.4% 12.2% 2.2% 3.0% 3.3% AUTHORS: Ron L. Throupe, Ph.D, Daniels College of Business, University of Denver 3.3% Jennifer L. Von Stroh, Colorado Economic and 2.3% Management Associates 2002 2003 2004 www.aamdhq.org 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 $700 PREV. YEAR $1,306 25.1% 17.7% 17Q2 5.9% 18.5% 16Q4 Adams Yearly Economic Vacancy 17.5% 16Q2 ARROWS DESIGNATE CHANGE SINCE PREVIOUS QUARTER Vacancy Rate Economic Vacancy 23.4% 15Q4 Bar: Average Rent (in dollars) County Overview Last Quarter: 5.4% 15Q2 2016 2017 FEBRUARY 2018 • TRENDS | 27

Apartment Trends Magazine February 2018 | Page 29