For the first time in more than a decade, the Denver apartment market saw declining year-over-year rent growth, according to the Apartment Association of Metro Denver’s quarterly Denver Metro Area Apartment Vacancy and Rent Survey. The second-quarter survey, conducted by the University of Denver’s Daniels College of Business and Colorado Economic Management Associates, noted that compared to second-quarter 2019, average rent decreased to $1,506 per month, a $30 monthly decrease and a $360 annual decrease. This represents an inflation-adjusted 2.1% decrease in rents. The last time rents were lower than the period 12 months earlier was in the first quarter of 2010.

In the past 10 years, we have seen a substantial shift in housing trends, specifically household’s increased preference to rent and decreased feasibility to own. On a national level, the steadily

While outsized rent hikes and affordability concerns have dominated the headlines in Denver's apartment market in recent years, our robust apartment data set reveals that the environment has become materially more favorable to