Are you curious about the average rental rates in Denver? As of October 2013 the average rental rate in Denver is $1049, up 6% since October 2012.
Average price of a 1 bedroom in Denver:
Low End Low: $750
Luxury High: $1450
Average price of 2 bedrooms in Denver:
Low End Low: $950
Luxury High: $1845
Almost 3,000 new apartments have been added this year but vacancy is still hovering around 5% because many older apartment communities are renovating keeping vacant apartments off the market for longer periods, and new construction apartments are not hitting their timelines pushing available dates of new apartments back.
It’s estimated that we will see over 10,000 new apartment units delivered in 2014. Combine those units with the release of renovated apartments that are offline in 4th quarter 2013, and current apartments under construction that got pushed to 2014 and there may be some relief for renters as occupancy is projected to fall in 2014.
Apartment Guyz has already noticed a rise in specials and availability as properties try to maintain that 5% vacancy.
How can Apartment Guyz find you a better deal? Apartment managers often reduce their marketing budgets significantly and increase renewal rates for existing renters significantly when occupancy hits 94% or better. This creates a barrage of move outs, and a sleepy period of move ins reducing occupancy seemingly overnight 5-10%. Then laws of supply and demand for Denver apartments takes over. Prices drop and rent specials increase.
Apartment Guyz is always monitoring and updating hundreds of rentals daily. When we find the good deals, we react quickly to ensure you get the best rate possible.
Want more information on Denver apartments and average rents? Apartment Guyz has the 411 on average rental rates, good deals, area advice, and neighborhood information. We use this to make sure renters get a great deal on apartments that fit their personality as well as budget.