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Colorado Average Apartment Rent Up, Vacancy Down

DENVER-Average monthly rent outside Denver's borders has set a new high, $750. Eagle County's $1,000.71 per month surpasses even Aspen. Rents could go up even more as vacancy rates drop.

By John Rebchook | Updated on April 13, 2001

DENVER-A first quarter report that tracks the Colorado apartment market for the areas outside of the Denver area shows the average vacancy rate has dropped to 3.2% from 4.1% in February 2000, the last time the Division of Housing in the state’s Department of Local Affairs had released a report.

And, for the first time in the tracking, the average monthly rent in outlying communities has topped $750. University of Denver professor Gordon Von Stroh, who prepares the report, has determined that average monthly rents go from a low of $399.31 in rural Alamosa to as much as $1,000.71 in Eagle County, which includes Vail and Beaver Creek. Eagle County had even outdistanced Aspen, where the average rent is $953.72. In Colorado Springs, the average rent has come in at $641.70.

“The average rent is only up about $30 a month, which is not that much,” Tom Hart, Colorado Department of Local Affairs director, tells GlobeSt.com. “We expected to see more of an increase. I don’t think everyone is charging for the increased utilities costs yet. Over the course of the next six to nine months owners will start raising rents. I think we’re going to see some significant increases.”

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