Vacancy rate falls outside Denver area

By John Rebchook, Rocky Mountain News (Contact)

Published June 18, 2008 at 4:37 p.m.
Updated June 18, 2008 at 4:37 p.m.

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The vacancy rate for apartment buildings in Colorado outside the Denver area was 6.1 percent at the end of the first quarter compared with 7.5 percent a year earlier, according to the latest report by the Colorado Division of Housing.

The report, however, shows that the vacancy rate rose from 5.7 percent at the end of the third quarter in 2007, the last time University of Denver business professor Gordon Von Stroh conducted the survey for the housing division.

Areas with vacancy rates below 5 percent include: Alamosa, Aspen, Buena Vista, Cañon City, Durango, Eagle County, Glenwood Springs, Grand Junction, Gunnison, Montrose, Salida, Steamboat Springs and Summit County.

Colorado Springs had a vacancy rate of 9 percent; Greeley, 7.3 percent; Pueblo, 6 percent; and Fort Collins/Loveland, 5.2 percent.

Aspen had the highest median, or middle, monthly rent at $1,176. The average monthly rent in Aspen was $1,133.

Sterling had the lowest median rent at $336. The average rent in Sterling was $342.

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