Apartment Trends Magazine February 2019

DENVER METRO APARTMENT VACANCY & RENT Metro Denver Vacancy & Rent Report 4TH QU A R T QUARTER ER 2018 EXECUTIVE SUMMARY • 4TH 10% Vacancy Rate $1,500 9% 5.8% $1,400 8% Last Quarter: 5.5% $1,300 7% Average Rent $1,456 Last Quarter: $1,465 - 5% $1,100 4% $1,000 3% $900 2% - $1.70 Last Quarter: $1.73 $1,200 6% Average per sq. ft. $800 1% 0% 13Q4 14Q2 14Q4 15Q2 Line: Percent Vacant Discount / Concessions 4.3% 15Q4 10.6% Last Quarter: 12.0% Net Absorption (Units) 2,783 Last Quarter: 4,063 17Q2 17Q4 $1,384 $1.63 Arapahoe 5.8% $1,392 $1.62 Boulder/Broomfield 5.4% $1,589 $1.79 Denver 6.6% $1,486 $1.82 Douglas 4.8% $1,549 $1.64 Jefferson 5.4% $1,452 $1.69 Visit www.aamdhq.org and Hottest Sub-Markets register to receive the full (Average of all four quarters) 2.7% 17.7% 17.0% 16.6% Rate (/sq. ft.) 5.0% 23.3% 18.5% 15.2% 13.7% 12.7% 13.1% 14.1% $700 PREV. YEAR Average Rent Denver - Wash Vacancy Park quarterly 17.5% 18Q4 Adams Yearly Economic Vacancy 24.3% 18Q2 ARROWS DESIGNATE CHANGE SINCE PREVIOUS QUARTER SPONSORED BY: 2002 16Q4 Vacancy Rate Economic Vacancy 23.4% 16Q2 Bar: Average Rent (in dollars) County Overview Last Quarter: 7.8% 25.1% 2018 SUMMARY 12.4% 12.2% 12.4% Wheat Ridge & Rent Survey: 3.3% Englewood Denver - Lowry Aurora - Central SE Commerce City 2.8% 3.4% AUTHORS: Ron L. Throupe, Ph.D, Daniels College of Business, Denver 3.2% University of 3.7% Jennifer L. Von Stroh, Colorado Economic and Management Associates 2003 2004 34 | TRENDS 2005 2006 2007 2008 FEBRUARY 2019 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 www.aamdhq.org

Apartment Trends Magazine February 2019 | Page 36