Denver’s apartment rent growth continues to slow

The brakes are being put on Denver’s apartment rent growth as new apartments come on line.

According to California property management software company Yardi Matrix, Denver’s year-over-year rent growth fell to 2 percent on a year-over-year basis in September, below the national average of 4.7 percent and well below the double-digit increases experienced in past years.

There will be 11,600 new apartments come on line in 2016, according to Yardi Matrix.

“As supply is absorbed and construction moderates, these metros will likely revert back to a stable long-term growth rate,” the company said of markets like Denver, San Francisco and Houston, where rent growth was 2 percent or below on a year-over-year basis in September.

In August, the Denver rent picture began a “significant deceleration,” according to the company, compared with an 11 percent rise in 2015.

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Posted in: Apartment Market

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