In recent years, Denver, Colorado, has experienced significant changes in its rental market, making it an opportune time for finding apartments in Denver. The city's rapid growth and development have led to a surge in new apartment units, which has influenced rental prices and vacancy rates. Here's a detailed look at the current state of the Denver rental market to help you navigate finding an apartment in Denver.
Market Trends
As of 2025, Denver's rental prices have seen a notable drop for the first time in nearly two decades. The average rent decreased by $56 in the first quarter of 2025 to approximately $1,819 per month. This decrease is largely attributed to the addition of over 21,000 new apartment units in the past year, which has increased the inventory by 5% and pushed the vacancy rate to a 15-year high of 7%.
The higher vacancy rate is beneficial for renters, allowing them more negotiating power when finding an apartment in Denver. Landlords are now offering more amenities and lower fees to keep units occupied, turning the market in favor of renters.
Supply and Demand Dynamics
Denver's multifamily market experienced its first annual rent decline since the Great Recession in 2024, with a decrease of 2.7%. This was primarily driven by an oversupply of new units entering the market, which forced landlords to offer concessions and reduce rents to attract tenants.
Despite the decline, demand for apartments remains robust, with net absorption exceeding historical averages. However, with fewer new developments expected in 2025 and beyond, the market is likely to stabilize, potentially leading to a rebound in rental growth by 2026.
Tips for Renters
When finding apartments in Denver, it's crucial to be aware of the current market conditions. With a surplus of available units, renters have the upper hand in negotiations. Here are some tips:
Conclusion
The Denver rental market is currently favorable for renters, offering a wide range of options and opportunities for negotiation. For those looking to relocate or invest in the area, understanding these market trends is essential. At AptAmigo.com, we aim to make finding apartments in Denver easier and more accessible to all our customers.
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